Wealth Tax on Multi Millionaires
Wealth Tax on Ultra-Millionaires:
Funding a Fairer Future
Across Indiana and the entire country, working families are struggling to keep up while the ultra-rich accumulate unimaginable wealth. For decades, billionaires and ultra-millionaires have benefited from loopholes, special tax rules, and financial systems designed to protect their fortunes. Meanwhile, everyday Hoosiers face rising living costs, underfunded schools, crumbling infrastructure, and healthcare bills that drain their savings. The gap between the wealthy and the working class grows wider each year—not because people aren’t working hard, but because the system is rigged in favor of those at the very top.
John believes it’s time to rebalance the scales. A wealth tax on fortunes over $15 million ensures that those who have benefited the most from our economy contribute their fair share back to the communities that made their success possible. This tax is small, targeted, and designed to affect only a tiny fraction of the richest households—those with extreme concentrations of wealth that continue to grow even during economic downturns.
A wealth tax would generate billions in revenue nationally, money that can be invested directly into healthcare, public education, housing, infrastructure improvements, and programs that lift up working families. By asking the ultra-wealthy to contribute just a little more, we can reduce the national debt, make Medicare for All fully sustainable, and strengthen social safety nets that families rely on. It’s a practical, common-sense step toward closing the inequality gap and preventing wealth from being hoarded by a handful of individuals while communities struggle.
This policy also helps create a more stable economy. When wealth is concentrated in the hands of a few, economic mobility stalls and opportunity becomes limited to those born into privilege. A wealth tax levels the playing field by ensuring that prosperity is shared and reinvested where it’s needed most—into schools, roads, healthcare systems, and working communities across Indiana.
John’s stance is clear: America works best when everyone contributes fairly, and when the rules aren’t tipped in favor of the richest few. By implementing a wealth tax on ultra-millionaires, we can build a future where hard-working Hoosiers have the opportunities, resources, and stability they deserve.
Why a Wealth Tax Strengthens Indiana
A tiny fraction of the wealthiest Americans hold more wealth than millions of working families combined. While Hoosiers struggle with rising costs, the ultra-rich continue to grow their fortunes tax-free through loopholes and special rules. John’s wealth tax targets only fortunes over $15 million, generating major revenue to fund healthcare, schools, and infrastructure. By ensuring the ultra-wealthy pay their fair share, we can invest in communities, reduce inequality, and build a stronger future for Indiana.
Building a Fairer Economy for Everyone
A wealth tax helps close the gap between the ultra-rich and working families by redirecting resources back into schools, healthcare, and local communities. John believes the wealthiest Americans should contribute fairly so Indiana families have the opportunities they deserve.