Corporate profits hit record highs in 2021. At the same time, a strong stock market enabled the ultrarich to dramatically increase their wealth during the global pandemic. Yet corporate tax rates are at their lowest levels since 1940, and the tax code favors income from wealth, allowing the wealthy to often pay lower rates than working-class Americans. A recent CAP analysis showed that nearly 1 out of 5 Fortune 100 companies paid low to no taxes in 2021. An analysis by ProPublica underscored that the wealthiest Americans similarly pay extremely low tax rates. A two-tier system of tax enforcement, worsened by IRS budget cuts, allows many wealthy individuals to play by a different set of rules. The votes exist in Congress to reform the tax code and ensure that everyone pays their fair share.
Please join the Center for American Progress for a discussion with Sen. Elizabeth Warren (D-MA) on the commonsense policies that can help to build a fairer tax system in America. Corporate profits and the wealth of billionaires surged to new heights during the pandemic, and the tax system allows many of them to pay lower rates than working Americans. The discussion will focus on concrete steps Congress can take to build a fairer tax system.
COVID-19 Vaccination and Mask Policy
This event will be held in-person at the Center for American Progress and space is limited. Please RSVP to secure your spot.
For the safety of American Progress staff and visitors, all visitors are required to show proof of up-to-date COVID-19 vaccination status (either physical copy or photo) and wear a mask over their nose and mouth for the duration of their attendance.
If you are displaying symptoms of COVID-19 including, but not limited to fever, cough, fatigue, or sore throat, please refrain from attending and tune in virtually. For more information on symptoms of COVID-19, visit the Centers for Disease Control and Prevention.
By registering for this event, you agree to abide by our COVID-19 policies and failure to do so can result in denial of entry. The event will begin promptly at 10:00 a.m. Please arrive 10 – 15 minutes early to allow time for proper COVID checks. Latecomers will be accommodated as available.
If you’d like to attend virtually, please register using this link.