No, you’re not going crazy: your favorite snacks and household products really are diminishing in both size and quality. The new phenomena of “shrinkflation” and “skimpflation” are very real, and they are becoming huge problems for millions of working Americans. Although inflation has cooled considerably since its peak in 2021 and 2022, prices are still ticking up at a faster rate than they were before the COVID … Continue reading You’re Not Imagining It
It’s encouraging that the Senate Judiciary Committee has decided to get to the bottom of questions regarding billionaire influence and corruption at the Supreme Court. Now, it’s time they rolled up their sleeves and got their hands dirty to actually make it happen. The last time that we told you about the ethics controversy at the Supreme Court was back in August. We outlined a number of … Continue reading If Durbin Crows About Subpoenas, He Needs to Issue Them
Republicans and Democrats have been engaging in some horse trading on tax policy lately, but the deal, in its current form, provides corporations – already flush with cash – a massive tax break while working families will see only a modest extension of the Child Tax Credit. Two weeks ago, Senate Finance Committee Chairman Ron Wyden (D-OR) and House Ways and Means Committee Chairman Jason … Continue reading Congress is Trading Horses. Kids are Losing Out.
As of this writing, Merriam-Webster’s dictionary does not have a definition for the word “trillionaire.” But they may want to start drafting one because experts are predicting we’ll need it in about 10 years’ time. Last week, we told you about Oxfam’s new eye-popping report, Inequality Inc. All of the top-line findings were jaw-dropping, but one in particular has generated a significant amount of buzz: if … Continue reading The Definition of a Trillionaire
If there’s one thing that we want the world leaders at Davos to know, it’s this: we would be proud to pay more in taxes. This week, over 2,800 elites from business, academia, politics, civil society, and the arts are attending the World Economic Forum Annual Meeting in Davos, Switzerland – better known as simply “Davos.” The theme of this year’s conference is “Rebuilding Trust,” with many discussions centering around geopolitical … Continue reading Proud to Pay More
If President Biden and the Democrats are looking for a political winner as campaign season gets underway, they should look no further than the minimum wage. We shared the good news with you last week that 22 states and 38 localities across the country officially increased their minimum wages on January 1, which will give 10 million workers a total of $7 billion in increased wages. By the end … Continue reading The Solution to Biden’s Problems? The Minimum Wage
Happy new year! We hope that you had a wonderful holiday season and that your new year has begun with notes of hope and joy. Like everyone else, the Patriotic Millionaires are using the start of a new year to take stock of our priorities and map out the challenges – and opportunities – we anticipate in the year ahead. For this week’s Closer Look, … Continue reading The Year Ahead
‘Tis the season for holiday sticker shock! As Americans finish the last bits of their holiday shopping, they are feeling the heat of higher prices. Thankfully, inflation has certainly cooled down since last year: the Consumer Price Index rose 3.1% over the year ending in November 2023, compared to a 7.1% rise over the year before. But unfortunately, while prices for groceries, gas, rent, and other essentials aren’t rising … Continue reading ‘Tis the Season for Sticker Shock
Last week, President Biden’s son Hunter was indicted on nine counts of tax evasion by David Weiss, the special counsel leading an investigation into Hunter’s business dealings. The 56-page indictment alleges that, between 2016 and 2019, Hunter failed to pay at least $1.4 million in federal taxes, and instead used the millions he received in income over that period to fund an “extravagant lifestyle.” Republicans who see the Biden … Continue reading Republicans’ Track Record on Tax Evasion is Abysmal
Oh, to be a billionaire in 2023 – but particularly one born with a silver spoon in their mouth. You’ve heard the Patriotic Millionaires talk about how billionaires took advantage of the COVID-19 pandemic to dramatically enrich themselves while workers got slammed. To sum it up quickly, the global billionaire class increased their collective wealth by a whopping $2.6 trillion between 2020 and 2022. But what has … Continue reading Meet America’s New Aristocracy
The labor movement roared back to life this year, and everyone from factory floors to C-suite offices has taken notice. Yesterday, the Senate Health, Education, Labor, and Pensions (HELP) Committee conducted a hearing about the resurgence of unions in America. In his opening remarks as Chairman, Senator Bernie Sanders (I-VT) highlighted the 450,000 union workers that have gone on strike this year for better wages, benefits, and working conditions – a … Continue reading Unions are on a roll
The Patriotic Millionaires have a very simple message for the world: “Je suis riche, taxez-moi!” Our organization was recently profiled in a feature-length piece in Le Monde, the most circulated newspaper in France and one of the top newspapers in all of Europe. This is a pretty big deal, and will undoubtedly attract more public interest in our mission across the world. Our Chair, Morris Pearl, and Vice-Chair, Stephen … Continue reading Je suis riche, taxez-moi!
As of this writing, the U.S. House of Representatives still has no official Speaker after Rep. Kevin McCarthy was ousted by his own party two weeks ago. While the House’s inability to govern itself is a sad reflection of the current state of our democracy, there is a silver lining in Republicans’ embarrassingly tumultuous infighting: they are telling on themselves and making it painfully clear to the rest … Continue reading Republicans’ Chaos with the National Debt
“It’s the economy, stupid” is an oft-repeated truism in politics, quoted by politicos and Beltway journalists alike, after James Carville minted the phrase during the 1992 Presidential election. While the triangulating politics of the 1990s have not aged well, this phrase remains embedded in our lexicon because it was straightforward and carried with it generally helpful guidance for how candidates should run their campaigns. But the simplicity … Continue reading The Economics of Social Issues
Corporate monopolies have been receiving get-out-of-jail-free cards for too long in America. The Justice Department and the Federal Trade Commission are finally stepping up to challenge this wildly rigged economic board game. Over the last month, the Biden administration has lodged suits against two corporate behemoths, Google and Amazon, over accusations of illegal monopolistic practices. The suits failed to attract a level of media attention befitting the scale … Continue reading Monopolies are for board games
Former President Donald Trump and seven other Republican presidential hopefuls will take to the stage tonight, albeit separate ones, to make the case to the American people that they can save the working class. But if past is prologue, we can be confident this collection of wanna-be-presidents won’t have much in the way of substance to offer. For this week’s Closer Look, we want to … Continue reading Republicans’ Rap Sheet on Workers
The strike has begun. The United Auto Workers union has walked off the job amid their dispute with the Big Three automakers. Among their demands is a 36% pay increase across the life of their new four-year contract. At first glance, that might seem like a big jump, but in context, it’s actually a modest request for their wages to match the growth in productivity UAW workers … Continue reading The Gap Between 36% and 1,460%
Engines are revving for the United Auto Workers union as they line up to strike against the Big Three automakers. The UAW’s current contract with the Big Three – Ford, General Motors, and Stellantis – expires tomorrow, September 14, at 11:59PM ET. If the parties can’t reach an agreement on a new contract before then – and it’s looking very unlikely that they will – the 150,000 members of … Continue reading The UAW is revving up to strike
This weekend, heads of state of G20 member countries will travel to New Delhi, India for the 18th annual G20 summit. Attendees will discuss the most pressing issues related to the global economy, and the meeting will culminate in the adoption of a new G20 Leaders’ Declaration. Ahead of the summit, the Patriotic Millionaires led the charge with several of our allies – Oxfam, Millionaires for … Continue reading Dear G20 Leaders: Tax Extreme Wealth!
For huge swaths of the country, it’s Back to School week. But as schools open their doors and welcome students back, massive labor shortages are making it difficult to put teachers in classrooms, or even get students to school in the first place. And it’s no secret why: low pay has made it notoriously difficult for administrators to find educators and bus drivers. So it’s baffling that The New York … Continue reading Back to School for The New York Times