Our economy is rigged in favor of the wealthy and the well-connected. While the rich benefit from tax loopholes written by lobbyists, the rest of us are struggling to get by.
In office, I’ll fight against income and wealth inequality. I’ll work to ensure the wealthy and corporations pay their fair share. And I'll do everything I can to expand economic opportunity for everyday Arizonans.
Here are some highlights of my plan:
- Make Corporations Pay Their Fair Share: A decade ago, state legislators made the biggest cut to the corporate tax rate in Arizona history, dropping the corporate tax rate from 6.9% to 4.9%. In office, I would fight to return the state corporate income tax rate to 7%, which would produce more than $80 million in annual revenue—money we could invest in education and other critical services.
- Crack Down on Corporate Tax Cheats: Doug Ducey cut the number of corporate tax auditors—whom Arizona depends on to catch and prosecute corporate tax cheats. I would crack down on corporate tax cheats by introducing legislation to increase the number of corporate tax auditors. Researchers find that for every dollar we spend on auditing, we get back $10 in collections, giving us tens of millions of dollars to invest in our communities.
- Introduce a Wealth Tax on the Ultra-Rich: The ultra-rich have rigged the tax rules in their favor so much that the top 0.1% pay a lower effective tax rate than the bottom 99% in our country. I would fight to level the playing field by introducing an Elizabeth Warren-style 1% tax on net worth over $50 million.
- Close Tax Loopholes for Luxury Goods: Special interests have employed armies of lobbyists to create loopholes so that they can evade taxes. No more. I would introduce legislation to end the ludicrous $0 tax on private jets, art gallery purchases, and country club memberships.
- End Ducey’s Capital Gains Tax Scam: Capital gains are the profits an investor gets when selling an asset like stocks. In 2012, Arizona lawmakers passed a law to cut many capital gains taxes by 25%. The problem? 83% of the benefits from this tax cut went to the top 5 percent of wealthiest Arizonans. It’s time to repeal this tax cut for the rich and raise $116 million in annual revenue that we can invest in public services.
- Bring Back the Dynasty Tax for the Ultra-Wealthy Legacy Families: A massive share of our nation’s wealth is concentrated in the hands of a few families. It’s time to combat this extreme wealth concentration and expand opportunity for the 99%. Which is why I would bring back Arizona’s estate tax, which places a reasonable tax on inheritances worth more than $3.5 million. This would raise $130 million for our state to invest back into our people.
- Expand the Safety Net for Families in Need: In the wealthiest country on Earth, no person should go without food, housing, or healthcare. I would introduce legislation to increase assistance for families in need, strengthen eviction protections for low-income renters, and provide free school meals for Arizona students.
- Provide Relief for Renters: The cost of housing is skyrocketing in Arizona. And right now, Arizona families are spending hundreds of dollars just to apply for homes. In office, I would cap the maximum rental application fee at $20. I would also introduce a renter’s tax credit that allows renters to receive a credit on their annual tax return based on how much they pay in rent. Like homeowners who can deduct some of what they pay for their property, renters would also qualify for renters tax credits, putting real money directly in the pockets of Arizonans who need a hand-up.