Earlier this week, the Department of the Treasury released its report, Disparities in the Benefits of Tax Expenditures by Race and Ethnicity, which outlines the differences in how tax deductions impact White, Black, and Hispanic families. The results show a troubling trend: there are clear disparities in how tax benefits and expenditures impact different racial and ethnic groups, and a significant amount of tax breaks … Continue reading How the Tax Code Makes the Racial Wealth Gap Worse »

We’d like to wish you all a happy holiday season from everyone here at the Patriotic Millionaires. It’s been a long and eventful year, so we’d like to commemorate it by looking back over some of the main events, praising those who did good for our nation, and calling out those who did bad. For this final Roundup before the end of the year, let’s … Continue reading Happy Holidays! »

As we come to the end of the year, we enter a time when people, full of holiday spirit, are giving more than ever. This goes for billionaires as well. But unlike the donations of regular Americans, billionaires aren’t dropping a few dollars into a donation bucket at the grocery store or giving to their local soup kitchen. Billionaires donate millions, but their generosity always … Continue reading Don’t Trust Billionaire Philanthropy »

American billionaires spent $880 million on the midterm elections by the end of October, with the final total spent likely approaching an astronomical $1 billion. That’s a game-changing amount of money, and with the lion’s share of it going to Republican candidates and groups, the billionaires were confident they would be able to get their money’s worth. Fortunately for most regular Americans, a “red wave” was largely … Continue reading Billionaire Campaign Spending is Out of Control »

When Democrats passed the Inflation Reduction Act (IRA) over the summer, they were expecting it to be a major factor in their favor in the upcoming midterm elections. They probably weren’t expecting that Republicans would also see the IRA as an opportunity to help win elections. In recent weeks, Republican candidates for the House and Senate have spent millions on ads targeting the IRA, in which they single out … Continue reading Republicans Are Campaigning on Protecting Wealthy Tax Criminals »

We’re living in a time of enormous economic uncertainty, both good and bad. From a potential recession to a resurgence of labor rights activism to high inflation to a revamped IRS budget, it’s hard to know what to expect for our future and what to expect from the different actors within our economy. But if one thing is certain, it’s this: ultra-rich individuals and corporations … Continue reading Corporations Are Not Your Friend »

When we hear talk in Congress of investing in infrastructure or funding social services, the proposals always go hand in hand with squawking from deficit hawks. Republicans and even conservative Democrats (including notoriously recalcitrant Senator Joe Manchin of West Virginia) fret about how spending money on improving our country will bring ruin by contributing to the national debt.  They’re wrong. The truth is that fears … Continue reading Don’t Fall for Deficit Fear-Mongering »

Our nation is at its most stable and prosperous when all of its citizens are supported and able to actively benefit from the fruits of a healthy economy. But too many pieces of our economy and the business world rely on human misery and contribute to growing inequality. This is both bad for society and bad for business. In contrast, an economy that is good … Continue reading Make Our Economy Work for Everyone »

If recent years have taught us anything, it’s that our democracy is fragile and needs to be protected. But earlier this week, the Supreme Court did the opposite. The Court ruled on Monday in a case involving Texas Senator Ted Cruz that campaign donors should be allowed to replenish political candidates’ personal wealth after election campaigns have concluded. This decision effectively opens politicians up to … Continue reading The Supreme Court is Wrong on Campaign Finance »