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To: The Hon. Mike Johnson, John Thune, Jason Smith, Richard E. Neal, Mike Crapo, and Ron Wyden
Don't Buy Billionaires' Tax Cut. Tell Congress No on Proposed Budget Resolutions.
Since Pres. Donald J. Trump took office in January, vital programs, services, grants and personnel of the U.S. government have been gutted and/or altogether eliminated. Funding decisions made by a duly elected Congress have been overridden and disregarded by the Trump Administration in direct contradiction to principles and tenets of the United States Constitution. These actions have eroded our faith in the United States Government, which has become reticent or outright hostile to meeting its financial obligations at home and abroad.
Right now, under your leadership, the House and Senate are considering budget resolutions that would further cut vital programs and services for Americans. These cuts are objectionable, violating both our values and the social support network that Americans built for the safety and stability of our society and its individuals.
The budget resolutions under consideration also propose an extension and expansion of tax cuts for America's most wealthy taxpayers. These tax cuts are so significant that, despite the illegal cuts already made by the Trump administration and factoring in the "savings" that would result from the further cuts in federal programs and services you are proposing, the federal government would need to borrow another $4 trillion dollars to pay for them. That means, effectively, creating more U.S. debt in order to buy wealthy American billionaires huge tax cuts.
Respectfully, I ask you to reconsider both your proposed cuts to vital programs and services and your proposed tax cuts for America's wealthy. Work with your colleagues across the aisle to put Americans first. There are many more Americans who will suffer than who stand to gain by your proposed budget resolutions.
Finally, I would like to remind you that the United States government sells debt securities at home and abroad that individuals, institutions and other governments buy because they are backed by the "full faith and credit" of the United States government. Of late, the United States government has broken faith with Americans and the most vulnerable populations throughout the world. It has withheld monies and retracted funding that was approved by Congress. Borrowers are rewarded with credit when they fulfill their financial obligations and have the income to justify the amount they would borrow. If Congress voluntarily ignores its own revenue sources, if it breaks the social contract made between American government and American citizens, also known as taxpayers, and importantly, if it also allows the Trump administration to ignore its funding mandates, then it does not deserve either the faith or the credit of investors throughout the world.
I pledge not to buy any U.S. debt securities that are created on the backs of working Americans for the benefit of wealthy Americans. Reconsider your proposed budget and tax cuts.
Right now, under your leadership, the House and Senate are considering budget resolutions that would further cut vital programs and services for Americans. These cuts are objectionable, violating both our values and the social support network that Americans built for the safety and stability of our society and its individuals.
The budget resolutions under consideration also propose an extension and expansion of tax cuts for America's most wealthy taxpayers. These tax cuts are so significant that, despite the illegal cuts already made by the Trump administration and factoring in the "savings" that would result from the further cuts in federal programs and services you are proposing, the federal government would need to borrow another $4 trillion dollars to pay for them. That means, effectively, creating more U.S. debt in order to buy wealthy American billionaires huge tax cuts.
Respectfully, I ask you to reconsider both your proposed cuts to vital programs and services and your proposed tax cuts for America's wealthy. Work with your colleagues across the aisle to put Americans first. There are many more Americans who will suffer than who stand to gain by your proposed budget resolutions.
Finally, I would like to remind you that the United States government sells debt securities at home and abroad that individuals, institutions and other governments buy because they are backed by the "full faith and credit" of the United States government. Of late, the United States government has broken faith with Americans and the most vulnerable populations throughout the world. It has withheld monies and retracted funding that was approved by Congress. Borrowers are rewarded with credit when they fulfill their financial obligations and have the income to justify the amount they would borrow. If Congress voluntarily ignores its own revenue sources, if it breaks the social contract made between American government and American citizens, also known as taxpayers, and importantly, if it also allows the Trump administration to ignore its funding mandates, then it does not deserve either the faith or the credit of investors throughout the world.
I pledge not to buy any U.S. debt securities that are created on the backs of working Americans for the benefit of wealthy Americans. Reconsider your proposed budget and tax cuts.
Why is this important?
It feels at times these days that we are powerless over what is happening in Washington because the House, the Senate and the White House are all packed with people who are hell bent on destroying the U.S. government, and the aid it offers to people at home and abroad. But we are not powerless. Besides being voters and constituents, besides being protestors and activists, we are also taxpayers and investors. We fund the U.S. government through our tax dollars and through our investments. If they are selling tax cuts to billionaires, we don't have to buy them. Literally. We don't have to buy them. They are going to have to sell bonds and T-bills and all kinds of other debt securities to Americans and other people throughout the world in order to fund those tax cuts for billionaires. Let's tell Congress where we stand on the issue of cutting vital programs and services for everyday Americans and cutting taxes for billionaires too. And let's remind them that we have financial power to back up our demands. People in America and people across the world can join together on this one. Nobody has to buy this nonsense they're selling.