'We reject the narrative that this country cannot afford to invest in a better world.' —OxfamAmerica
to tax billionaires' unrealized capital gains, meanwhile, would raise $56 billion a year on average. That new revenue, according to Oxfam,"would more than cover paid sick leave , family medical leave as well as affordable child care to allow more mothers and caregivers to return to work by absorbing the crushing cost of care for young families .
Oxfam found that"the $63 billion a year in corporate tax revenue could allow the U.S. to invest in climate finance, including tax credits for clean energy and cutting carbon emissions with tax credits for consumers and companies ; and fund critical public health needs, including funding global Covid health needs , covering the uninsured for Covid vaccines and testing , expanding Medicare for hearing , and closing the Medicaid gap .
"The American people have been told a lie," Cummings continued."They are paying their fair share to keep this country running. It's time for our nation's billionaires and giant corporations to contribute their fair share of taxes to support the very people who have provided the labor that has allowed them to enjoy record profits and excess wealth."
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