TAX REFORM FOR THE PROSPERITY OF OUR NATION

WHEREAS, the last several decades have seen a decline in the financial welfare of the majority of Americans while the top 1 percent have seen an unprecedented growth in their wealth, which has resulted in America’s having one of the greatest inequities among developed nations; and

WHEREAS, extensive studies both national and international have shown that such inequity in financial and social mobility has proven detrimental to all aspects of a society, resulting in such effects as higher levels of poor health, fewer well-educated citizens, more social violence, political and societal instability, a growing gap between the rich and poor with few making up a middle class, decreased length of life and dramatically reduced social mobility, among other effects; and

WHEREAS, one of the contributing factors to America’s growing inequity is the inequity in contributions to the social contract through taxation, with the wealthy and corporate groups paying a smaller percentage of their income than middle- and lower-income Americans, no taxes at all, and in some cases receiving a net gain in tax subsidies, as more of the wealthy depend on sources of wealth other than income; and

WHEREAS, wealthy Americans and corporations have access to tax loopholes and shelters and other similar benefits that enable them to avoid paying their fair share of taxes to support our democracy and the welfare of our nation; and

WHEREAS, the period of highest marginal income tax rates in our history corresponded with the nation’s greatest growth of a vibrant working and middle class:

RESOLVED, that the American Federation of Teachers support tax reform which closes the unnecessary loopholes giving the wealthy and corporate Americans an undeserved advantage, which addresses the inequity of sheltering taxes in offshore locations, and which does not reward the shipping of jobs overseas.