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Edward Markey: “The 25 richest Americans pay less than 5% [in taxes], if…”

Featuring: Edward Markey, Democratic | U.S. Senate Massachusetts

Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work.

Published April 15, 2026 | Video Starts at 01:13

And across Massachusetts and around the country, today is when many working families file their taxes. Teachers, nurses, firefighters, people that work for a living are paying 10, 15, 20% of their income in taxes. Meanwhile, The 25 richest Americans pay less than 5% [in taxes], if they pay at all. And that's because our tax code rewards wealth over work. Giving special tax breaks to investors, trading stocks over workers who are punching clocks every single day. (01:13–01:23)

CLAIM

Asserts that the 25 richest Americans pay less than 5% in taxes.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Edward Markey

“Under Trump's big, ugly bill of last July of 2025, millionaires and billionaires receive more in tax giveaways than 127 million American…”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 02:30-02:52
“Overall, the top 1% received $1 trillion in tax breaks because of that bill last July.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 03:08-03:21
“There's an extra dollar minimum that every American is paying for gasoline in addition to home heating oil and natural gas because he…”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 03:42-03:58
“In that big ugly bill that had huge tax breaks for millionaires and billionaires, they cut Medicaid by $1 trillion.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 19:31-19:39
“They cut Medicare by a half a trillion dollars.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 19:38-19:42
“They cut the Affordable care Act by $300 billion.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 19:41-19:46
“Our tax code rewards wealth over work, giving special tax breaks to investors.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 01:23-01:30
“Americans are getting less affordable healthcare, more expensive groceries and gasoline and home heating oil and natural gas prices.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 04:13-04:24
“Under Donald Trump, a system [exists] where the rich get richer and everyone else pays taxes.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 11:59-12:08
“That's the system Trump has put in place, and that's what's on the ballot this fall.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 12:09-12:15
“In Massachusetts three years ago, we passed a millionaires tax to fund our schools, to repair our infrastructure, and it passed.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 14:59-15:14
“They gutted the Department of Education in terms of all the funding that teachers need.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 19:46-19:51
“We're going to win the House and Senate in 2026 on these issues.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 20:03-20:07
“We're going to do a reconciliation bill. We're going to add in back all the money for education, for health care.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 20:09-20:16
“We're going to increase the taxes on millionaires and billionaires in our country to pay for those programs.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 20:18-20:26
“A whole generation of young people are being left behind, especially black and brown and immigrant kids in our country.”
Introducing the Equal Tax Act with Rep. Ramirez. We need to stop putting wealth over work. | Uploaded April 15, 2026 | 21:17-21:25