Women, and especially women of color, have always been disadvantaged in this country’s economy because of systemic discrimination. The COVID-19 health and economic crisis exacerbated gender and racial inequities and laid bare how much our entire economy relies on the unpaid and underpaid work of caregiving, performed mostly by women. Recovery has been uneven, with women, particularly women of color, being left behind.
To ensure that women—and in particular, women of color—have the tools and resources they need to thrive in our economy, we must raise revenues that will support bold public investments in women and caregivers, families, and all of us. Raising taxes for the wealthy and big corporations advances gender and racial equity, especially when the revenues raised are invested in women and families. Increasing taxes on the rich and corporations will help fulfill the purpose of the tax system: collecting revenues to fund our shared priorities.
We have a tax system so that our government can invest in things that benefit all of us. While our tax code has been hijacked to serve the interests of primarily white and wealthy men, we can reshape it to ensure that the rest of us can succeed in this economy. Making sure the wealthy and corporations pay a fairer share of taxes would make the tax code more equitable, curb wealth concentration, and help close gender and racial wealth gaps. And the revenues raised by fairer tax policies would make room for the investments women and families need and deserve.
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