With Democrats preparing to pass a reconciliation bill that will spend up to $3.5 trillion on investments and aid for American families, the next few months are going to be full of debate about how to pay for this new spending. One of the changes proposed by the Biden administration is eliminating the stepped-up basis, an egregious loophole that allows the rich to pass down … Continue reading It’s Time to End the Stepped-Up Basis
Republicans are making the disastrous decision to politicize raising the debt ceiling— YET AGAIN. The debt ceiling, which is the legal limit on the amount of debt the U.S. treasury sustains, or the actual amount the U.S government is permitted to borrow, is vital to the stability of our economy. Since Congress spends more than it collects in revenue, it must allow the Treasury Department … Continue reading Republicans are Politicizing the Debt Ceiling–Yet Again
Yesterday, Jeff Bezos went to space. In response, the Patriotic Millionaires released the following statement on the morning of launch day from one of our members, Stephen Prince: “Sixty years ago, we sent the first American into space, and the top income tax rate was 91%. Today, a billionaire launched himself into space after paying a true tax rate of less than 1% for years. … Continue reading If Jeff Bezos Can Afford to Go to Space, He can Afford to Pay more in Taxes
Our history of space travel is a catalog of humanity’s greatest achievements. When the Soviets put a satellite in orbit, that was a first. Yuri Gagarin and Alan Shepard touched space 60 years ago, our first-ever star voyagers. NASA – a publicly funded agency staffed with the best and brightest American minds – put Buzz Aldrin and Neil Armstrong on the moon, and got them … Continue reading Don’t Be Impressed with the Space Billionaires
Although the framework of the bipartisan infrastructure plan has been largely agreed on by a group of both Democrats and Republicans, it was only a matter of time before the more extreme elements of the GOP tried to undermine the deal. And right on cue as the bipartisan working group is attempting to finalize the bill’s details, some conservative groups are now demanding that the … Continue reading Fix the Tax Gap, Fund the IRS
The bipartisan infrastructure deal that Senate Democrats, Republicans, and President Joe Biden agreed on last week looks like it may already be in danger. With Democratic leadership promising to link the bipartisan bill to a larger reconciliation bill that includes more progressive priorities and tax hikes on the rich, and Republicans threatening to back out if Democrats pair the two bills together, there’s a lot … Continue reading What You Need to Know About the Bipartisan Infrastructure Deal
As our country debates an overhaul of the nation’s tax code that would significantly raise rates on millionaires, billionaires, and wealthy corporations, the Patriotic Millionaires are launching an offensive against the people standing in the way. Selfish billionaires, Wall street tycoons, and CEOs are all fighting tooth and nail to protect their own special tax breaks at the expense of the American people. Enough is … Continue reading Tax the Rich! Billboard Tour 2021
We do things together for a reason. We act as a society to take care of the things we can’t fix ourselves.