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
If you need more proof that America is slipping further and further into oligarchy, look no further than recent revelations about the Supreme Court. Oligarchy is a form of government in which a small group of typically wealthy and corrupt people wield power. It derives from the Greek words oligoi (“few”) and arkhein (“to rule”). Over at the Patriotic Millionaires, we regularly describe how oligarchs use their wealth to sway … Continue reading Oligarchy Comes for the Supreme Court
“We can have democracy in this country, or we can have great wealth concentrated in the hands of the few, but we can’t have both.” Supreme Court Justice Louis D. Brandeis (1856-1941) Last week, former President Donald Trump was indicted on charges related to his efforts to overturn the legitimate democratic results of the 2020 election. The announcement comes on the heels of Trump’s other two indictments: one … Continue reading We need to choose democracy
The average American spends $140 each year to prepare their tax returns. Tax Day is over for most of us, but the headache of being required to pay a private, for-profit company to fulfill a civil obligation never goes away. Thankfully, the IRS is developing and deploying a long-overdue solution. After conducting a successful cost and feasibility study, the agency announced that it will launch a pilot program for its own … Continue reading Intuit(ive) Solutions to UnBlock Free File
Last Friday, the Screen Actors Guild (SAG-AFTRA) – a union representing nearly 160,000 Hollywood actors – went on strike. They joined members of the Writers Guild of America (WGA) – a union representing 11,000 Hollywood writers – who have been on strike since May. This is historic. Hollywood writers and actors haven’t been on strike together since 1960, when none other than Ronald Reagan led the SAG as its … Continue reading Lights, camera, strike!
Our group has made quite a splash across the pond! Last Friday, The Guardian published an article – Super-rich warned of ‘pitchforks and torches’ unless they tackle inequality – about what went down at a recent investment conference put on by Spear’s Magazine in London. One of our UK members, Julia Davies, warned the attendees, over 500 members of the global rich and their financial advisors, that if they … Continue reading We made quite a splash across the pond!
In the lead up to the 1992 Presidential election, James Carville famously coined the phrase “It’s the economy, stupid.” It soon became a mantra for Bill Clinton’s successful campaign. That was thirty years ago. With how much our country has changed since then, we’d like to suggest updating the famous refrain to “It’s the inequality, stupid.” Economic inequality has exploded in the US since Bill Clinton took office. … Continue reading It’s the inequality, stupid
Last week, the Supreme Court dealt yet another blow to unions and working people across the country. For this week’s Closer Look, we want to tell you all about the Court’s latest decision and what it means for the future of labor in America. In Glacier Northwest v. International Brotherhood of Teamsters, the Court’s majority ruled in favor of Glacier Northwest, a concrete company based in … Continue reading The Supreme Court just dealt a blow to workers
The debt ceiling crisis may soon be over. Just a few days ago, President Biden and House Speaker McCarthy struck a deal to suspend the debt limit and freeze federal spending over the next two years, and the House is set to vote on, and likely pass, this deal this evening. But while the US may narrowly avoid a default, we don’t think this deal is cause for celebration. … Continue reading Cutting through the spin around the debt ceiling deal
Republicans are holding the economy hostage by refusing to raise the debt ceiling for one reason and one reason only: their determination to slash federal spending and make the poor poorer. President Biden and House Speaker McCarthy are still negotiating a deal to raise the debt ceiling before June 1, as Treasury Secretary Janet Yellen warned Congress yesterday that it is highly likely that the federal government will run … Continue reading Work requirements make the poor poorer
There is perhaps no greater symbol for our current age of extreme wealth, inequality, and environmental devastation than private jets. Earlier this month, the Patriotic Millionaires co-released a report – High Flyers 2023: How Ultra-Rich Private Jet Travel Costs the Rest of Us and Burns Up Our Planet – with the Institute for Policy Studies about the negative impacts of the private jet industry on … Continue reading High Flyers – The Cost of Private Jets for the Rest of Us
Workers in America have made some strides over the last few years, but unfortunately the road to real and lasting economic security remains long. With a debt ceiling crisis poised to potentially crash the global economy, and the Federal Reserve willing to push millions of Americans out of work to combat inflation, there’s a lot of work to be done to ensure that the gains of the last … Continue reading There’s still work to do with wages
As Tax Day approaches, it’s a good time to examine some myths about how people – and the wealthy in particular – respond to higher taxes. As we all know, tax rates differ from state to state, in some cases dramatically. According to a report released last week, residents in New York, Hawaii, Maine, Vermont, Connecticut, New Jersey, and Maryland have the highest tax burdens in the … Continue reading Why Patriotic Millionaires Love High-Tax States
The state of Michigan is well-known for many things (cherries, sand dunes, and its famous mitten shape), but economically, Michigan is probably most distinguished by its connection to the automobile industry and, with that, its steeped history in the labor movement. In 2022, 14% of Michigan workers were part of a union, above the national average of 10.1%. Among all 50 states, Michigan boasts the 12th highest unionization … Continue reading Right-to-work is out-the-door in Michigan
If you grew up in America, then you almost definitely have heard some variation of the refrain: “America is the greatest country in the world.” It’s an idea that’s so commonplace that it’s more or less taken for granted. We boast of inventions like the airplane, the light bulb, the internet, and even the humble chocolate chip cookie. We are home to some of the … Continue reading The Deadly Consequences of Inequality
It’s official: ultra-rich corporate executives are chicken plumping the American economy with stock buybacks. After a brief hiatus during the height of the pandemic, corporations have doubled down on stock buybacks. Last month, big public companies spent an incredible $132 billion on buybacks, more than triple what they spent in January 2022. By some estimates, in 2023, buybacks by S&P 500 companies alone are projected to top $1 trillion for … Continue reading Corporations are chicken plumping the economy with stock buybacks