On Monday, Senate Republicans released the details of the HEALS Act, their version of a fourth coronavirus relief package – a version that offers too little, too late. The bill is a pathetic and morally bankrupt response to the numerous crises currently plaguing Americans. Below, we go over what’s in the bill, including exclusions that are desperately needed in the next recovery package, and where … Continue reading Too little, too late: A breakdown of the HEALS Act
If you think back to the beginning of the COVID-19 crisis in the US in March, you might remember all the doomsday headlines about the stock market tanking to record lows and investors losing millions of dollars as a result. Three months later, those headlines have entirely disappeared, and there’s a reason for that: the stock market has recovered almost all of the losses incurred … Continue reading A Wealth Tax Is the Perfect COVID Stimulus Measure
The U.S. has been mired in the worst recession in most Americans’ lifetimes since late February, according to top economists. From the highest rates of unemployment in our country’s entire history to miles-long lines at food banks, it’s obvious that millions of Americans are in dire financial straits. One would expect, then, that the poverty rate in America would also be skyrocketing. However, multiple studies … Continue reading A Closer Look: Mid-Recession, Why Aren’t Poverty Rates Skyrocketing?
As cities across the US continue to see a swath of uprisings in response to the murders of George Floyd and Breonna Taylor by police, our country is being forced to reckon with its racist foundations and systems. That’s long overdue, and there is much more work to be done than what we’ve seen in the past month or so, but the Patriotic Millionaires welcome … Continue reading Anti-Racism & Wealth: Putting Your Money Where Your Mouth Is
Sometimes there are moments where conducting business as usual is not only grossly inappropriate, but simply impossible. The nationwide protests this past week are exactly one of those moments. The murder of George Floyd, like the murders of Ahmaud Arbery, Breonna Taylor, and every other unacceptable killing of Black Americans before them, have exposed the rotten truth at the heart of our country: the United … Continue reading Black Lives Matter.
As the COVID-19 pandemic spurs unprecedented layoffs, business closures, and general economic havoc, the US policy response has largely focused on trying to put fires out as they arise rather than following a long-term strategy to contain the economic wildfire. This is flawed but certainly understandable thinking, as it can be incredibly hard in the midst of an unprecedented crisis to discern which problems need … Continue reading Saving the Postal Service is a Democracy Issue
You might have heard about the “Millionaires Giveaway” or the “Grassley Giveaway” already, but what exactly is it? Here’s some background that you need to know to understand this tax break.
One of the largest looming catastrophes of the COVID-19 crisis is right in American homes. This April, nearly a third of renters weren’t able to pay their rent, and with many hourly and low-wage Americans still out of work, many are wondering how they will afford groceries, medicine, and other necessities – never mind the rent. The beginning of May marks the second rent or … Continue reading American Homes are at Risk. We Need a Tenants Bailout Now.
Today, the Patriotic Millionaires of California are proud to officially endorse the Schools and Communities (SCF) Ballot Measure for the upcoming 2020 election in California. For nearly four decades large corporations and businesses in California have avoided paying their fair share, causing our localities to be drastically underfunded and our schools to fall behind. California is the wealthiest state in the country, but we rank … Continue reading California Patriotic Millionaires Endorse Schools and Communities First Ballot Measure
While there are some good provisions in the bill, like expanded unemployment insurance and aid to hospitals and state and local governments, the amount of direct aid it provided to Americans at risk is far too low, and the amount of money it gives to corporations without any strings attached is far too high.
This week, as the Coronavirus pandemic spread in the US and stock market volatility sparked flashing red alarms for the national economy, the Trump administration floated several proposals for stimulating the markets and staving off a recession. The problem is that none of the proposals thus far adequately address the needs of the most vulnerable group amid this pandemic – low-income workers. Right now, 6 … Continue reading How Can the US Contain Coronavirus and Rescue the Economy? Start with Helping Low-Income Workers.
Ten years ago today, the Supreme Court shocked the nation with a ruling that declared legislation limiting campaign spending by corporations, unions, and nonprofits violated the first amendment. Since that calamitous decision to allow unrestricted political spending, we’ve witnessed the most expensive decade of American elections and the degradation of the average voter’s political power. The 2010 decision was the final nail in the coffin … Continue reading A Decade After Citizens United: Big Money Wins, Voters Lose
As 2019 comes to a close, let’s take a moment to look back at the major events that impacted the state of the economy – and the national conversation around our three core issues – as we enter the new year, and the many policy developments this year that are giving us hope for better, brighter decade to come.
Under new rules that even Ebenezer Scrooge would find harsh, Trump’s Department of Agriculture is planning to cut over 700,000 Americans from SNAP benefits, also known as food stamps. This ruthless and misguided change is another move by the Trump administration in their continued effort to attack poor Americans simply for the misfortune of living in poverty.
Houston, we have a problem: popular brands are increasingly touting progressive values while promoting toxic work cultures where employees are overworked, under-paid, and under-valued. This week, new reports revealed concerning practices at companies like Uber, Equinox, and Away continue to paint a grim picture of an all too-common reality for American workers: as major companies rake in ever-higher profit margins, workers aren’t being paid or … Continue reading Beware the Mirage of the Progressive Corporate Image
A couple weeks ago, billionaire Amazon CEO Jeff Bezos announced that he would be donating $98.5 million to charitable organizations to fight homelessness across the United States. While the move garnered Bezos a fair bit of glowing press coverage, we have reservations about celebrating the world’s richest man for using the spectacle of philanthropy as a political shield against paying his fair share in taxes.
Raising the federal minimum wage to at least $15 an hour will lift millions of Americans out of working poverty – and it’s scaring a lot of special interests who profit from keeping people poor. In this series, we’re dismantling the myths, one by one, that Raise the Wage opponents use to try and stop 40 million workers from making the money they deserve. This … Continue reading The Bare Minimum Series: Jobs and Businesses
The federal minimum wage for tipped workers has been stuck at $2.13 an hour since 1991. This means that if you’re a restaurant server, bartender, hairdresser, ride-share driver, or other worker that receives tips, your employer is only required to pay you $2.13 an hour. Even with this meager requirement, there have been countless instances of wage theft, thanks to today’s age of credit cards, … Continue reading The Bare Minimum Series: One Fair Wage
Raising the federal minimum wage to at least $15 an hour will lift millions of Americans out of working poverty – and it’s scaring a lot of special interests who profit from keeping people poor. In this series, we’re dismantling the myths, one by one, that Raise the Wage opponents use to try and stop 40 million workers from making the money they deserve. This … Continue reading The Bare Minimum Series: Regional Variation
The national poverty rate is one of the most widely used indicators of the nation’s economic success – but the rate masks how many people are actually living in poverty. Now, The Trump Administration is publicly weighing reducing the cost-of-living adjustments to make way for an even lower poverty line. This is a flagrant attempt to ignore the hardships of families already living below the … Continue reading More Americans Are Struggling Than This Administration Wants to Admit