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Dear <<First Name>>

“Madam Vice-President….No President has ever said those words from this podium. And it's about time." So said President Biden to a joint session of Congress yesterday. The gender of the Vice-President wasn’t the only new thing he announced, however. He also signalled a very different approach to tax and public spending.
 

In the speech, Biden proposed $4tn of extra spending for jobs, healthcare, support for older people and transport. Crucially, he indicated that this massive overhaul would be funded by taxation on corporates and the super-wealthy: "It's time for corporate America and the wealthiest 1%... to pay their fair share," he said.

The tax aspects of this had already been announced in the 
Biden Tax Plan which truly is a revolutionary approach for corporate America. One of his initiatives is a plan to level up the taxes paid on wealth and the taxes paid on income. Like the UK, the US has also seen a long-standing difference in how much tax is paid depending on how someone earns their income. However, unlike the UK, the US President is doing something about it. Despite a report he commissioned recommending that the UK system be made fairer, the Chancellor, Rishi Sunak, has still not taken any action to address the injustice in the UK system – an injustice we highlighted in one of our latest CATJ videos. 

At the same time, Biden has proposed a global minimum tax rate of 21% that, if implemented, could pay for global covid vaccine coverage at least 27 times over and at the same time bring an end to the tyranny of the tax haven. In the last week, more and more countries have signalled their support for the 21% minimum rate including France, Germany, Canada, and Japan which means, apart from Italy, the UK are the only G7 country not to indicate support so far. 

For all these reasons, we hope you’ll continue to support our 
Fair Tax Now campaign. We now have around 350 people who have written to their MPs. We would love that number to be much higher. Biden is showing the way in the US; with enough public pressure we can surely do the same here. 

Thanks

Justin

PS Our colleagues at Money Makes Change have launched a brilliant new quiz where you see how well you have connected your faith with your financial decisions. Try it out 
here
Copyright © 2020 Justin Thacker, All rights reserved.
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Contact:
Justin Thacker

Director, Church Action for Tax Justice
Justin.thacker@catj.org.uk
www.catj.org.uk
Twitter: @ChuActTaxJust
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Justin Thacker · 1 Lancelot Close · Chesterfield, Derbyshire S40 3ET · United Kingdom

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