The Tax Code isRigged Against You
Billionaires use the Buy-Borrow-Diestrategy to avoid taxes while you pay on every dollar earned. It's time to demand fairness. Sign the petition, contact your representatives, and join the movement for real reform.
Tax paid on $100B+ in SBLOC loans by top billionaires
Top marginal rate paid by working Americans
Proposed laws to close the wealth gap
Make Your Voice Heard
Three powerful ways to demand change. Sign, write, or share—every action counts in the fight for fiscal fairness.
The Problem: Two Tracks of Taxation
America has evolved into a two-tiered tax system. Type 1 Americans earn wages and pay taxes on every dollar. Type 2 Americans—the ultra-wealthy—accumulate assets, borrow against them tax-free, and pass the cost to everyone else.
- Earn wages → Pay income tax (up to 37%)
- Sell investments → Pay capital gains (up to 20%)
- Every dollar of income is taxed
- BUY: Accumulate appreciating assets (stocks, real estate)
- BORROW: Take loans against assets → No taxable event
- DIE: Heirs inherit at stepped-up basis → Gains never taxed
The BILCA (Buy-Borrow-Die Loophole Closing Act) imposes a tax on Securities-Backed Lines of Credit (SBLOCs) above a protected threshold, treating borrowed funds as a taxable liquidity event.
Collateral Exemption
HELOCs (Home Equity Lines of Credit) and small-business payroll loans are fully exempt from BILCA taxation. Only securities-backed borrowing by high-net-worth individuals is affected.
SBLOC Tax Calculator
Today's IRS Tax Paid
$0
Proposed SBLOC Tax
$1,000,000
Basis Reset Offset
$5,000,000
The Basis Reset Offset increments your stock cost basis by the taxable loan excess, legally preventing double taxation upon eventual sale.
Many corporations report billions in profits to shareholders while paying minimal federal taxes through deductions, credits, and offshore structures. The Corporate Honesty Rule establishes a 15% minimum tax on book profits reported to investors.
Corporate Gap Analyzer
GAAP Book Profit
$58B
Actual Tax Paid
$2.1B
3.6% effective
15% Minimum Tax
$8.7B
Additional Revenue
+$6.6B
Foreign algorithmic traders and high-frequency trading firms extract billions from US markets without contributing to the infrastructure they profit from. A modest 0.1% toll ensures fair contribution while preserving market liquidity.
Trade Fee Calculator
Trade Size
$500,000
0.1% Market Access Fee
$500
Private foundations must distribute 5% of assets annually. Elite university endowments—collectively hoarding over $200 billion—face no such requirement. The Endowment Parity Act ensures these tax-exempt institutions serve the public good.
Endowment Shortfall Analysis
| Institution | Endowment | 5% Mandate | Actual Spend | Shortfall |
|---|---|---|---|---|
| Harvard University | $50.7B | $2.5B | $2.1B | -$435M |
| Yale University | $41.4B | $2.1B | $1.6B | -$470M |
| Stanford University | $36.3B | $1.8B | $1.4B | -$415M |
Every nonprofit in America files Form 990—except churches. Commercialized religious organizations with revenues exceeding $10M operate like businesses but face zero financial disclosure requirements. This must change.
Federal Proposal
- • Mandate Form 990 filing for religious organizations with >$10M annual revenue
- • Require public disclosure of executive compensation
- • Subject to same audit standards as other nonprofits
California State Lever
- • CA Megachurch Transparency Act
- • Revoke CA state tax-exempt status for entities refusing open bookkeeping
- • Champions: Assemblymember Alex Lee & Senator Scott Wiener
Why state action matters: Even if federal legislation stalls, California can independently require financial transparency as a condition of state-level tax exemption. Sacramento leads where Washington fails.
Our Sponsors & Allies
A bipartisan coalition of legislators, economists, and grassroots organizations fighting for fiscal fairness.
Federal Level
US Congress & National Coalitions
Sen. Elizabeth Warren
Massachusetts
Sen. Bernie Sanders
Vermont
Sen. Sheldon Whitehouse
Rhode Island
Rep. Pramila Jayapal
Washington-7th
Rep. Alexandria Ocasio-Cortez
New York-14th
Economic Policy Institute
Research Partner
Americans for Tax Fairness
Advocacy Partner
Patriotic Millionaires
Donor Coalition
California State
Sacramento Champions
Assemblymember Alex Lee
ChampionAD-24, San Jose
Senator Scott Wiener
ChampionSD-11, San Francisco
Assemblymember Matt Haney
AD-17, San Francisco
Senator Dave Min
SD-37, Irvine
California Tax Reform Assoc.
Policy Research
CA Churches for Accountability
Faith-Based Coalition
CA-BILCA and the CA Megachurch Transparency Act are actively being drafted as companion bills in Sacramento. Contact your state representatives to voice support.
Fund the Fight for Fair Taxes
Every dollar fuels grassroots organizing, policy research, and direct advocacy in Washington and Sacramento.