In the richest country in the history of the world, working families in our nation, and here in MO‑04, are still struggling. Stagnant wages, rising inflation and costs of rent, groceries, healthcare, and education have left too many behind. In the meantime billionaires and millionaires continue to receive massive, unfair tax breaks. 

The 2017 Republican tax cuts delivered tens of thousands to millions of dollars in savings to the wealthiest Missourians, while our neighbors work harder than ever just to make ends meet.

We need an economy powered by the people, not profits. An economy and a government that puts the needs of working families first. We must fundamentally create a new system where wealth created on the backs of the working class can help make their lives better. Today, I am inspired by Dr. Martin Luther King Jr. and his visionary Freedom Budget, which called for progressive taxation and wealth redistribution to ensure that wealth serves human dignity, not the pockets of the already rich. This is the vision I fight for: an economy that invests in people, not billionaires.

When I’m in Congress, I will:

Support Senator Bernie Sanders and Elizabeth Warren's tax plans to ensure that the ultra wealthy pay their fair share of taxes. I will champion progressive tax on extreme wealth and income, starting at $30 million topping out at a legal maximum of $1 billion per year. 

Income tax brackets for extreme wealth will be:

• Current rates up to $30 million remain in place.

• 60% on income from $30 million to $100 million.

• 75% on income from $100 million to $500 million.

• 90% on income from $500 million to $999 million.

• 100% on all income above $1 billion. No family or individual should earn more in a year than most families can in a lifetime, while working class people struggle to pay rent, groceries, healthcare, and tuition.

  
  

Close Lose Tax Loopholes for Millionaire and Billionaires:

When I’m in Congress, I will work with my colleagues to close every billionaire loophole. 

• I will support mandatory mark-to-market for households worth more than $100 million, ensuring unrealized gains on stocks, real estate, and private assets are counted as annual income.

• I will make sure no one can borrow against assets to dodge taxes and that carried interest is treated as ordinary income.

• I will count stock options and deferred compensation as income when they vest. 

• I will ensure that personal use of corporate jets and luxury assets is taxed at fair market value. 

• I will support a crackdown on fake charitable foundations used to avoid paying taxes.

• And I will make certain we impose a 40% exit tax on anyone worth $50 million or more who renounces their citizenship to avoid paying their fair share.

Building a Fair Tax System That Centers Working Families

When I’m in Congress, I will work with my colleagues and support legislation to ensure that the IRS is fully funded and staffed. I will support creating a dedicated Millionaire/Billionaire Income Unit, one that is capable of auditing complex and difficult financial empires to ensure compliance. 

I will champion reinvesting in working families. The revenue and profit that is raised from these progressive measures will help fund affordable housing, tuition free colleges, universal healthcare, clean green jobs and infrastructures for MO-04. 

Building an Economy Where the Working Class and NOT the Wealthy Hold the Power

A progressive tax plan that centers the working class people and not the ultra wealthy will help redistribute the wealth and bring millions of dollars back into public investment. This money that belongs to the working class people, who build our economy,  belongs to them and must be reinvested in their well-being. We must fundamentally build a new system in this country where people no longer have to hold more than one job to support their family. This people-powered tax plan is about more than revenue.  It’s about protecting working families and stopping a system where billionaires buy political power to protect their wealth. Inspired by Dr. King’s Freedom Budget, I will fight for an economy where wealth serves the many, not the few, and where every Missourian has the opportunity to thrive.