Dems can’t let Sinema kill their last chance to tax the rich

Last week, Bloomberg reported that Senate Democrats have re-engaged in negotiations with West Virginia Senator Joe Manchin over passing a “skinny” version of President Biden’s Build Back Better Act. Manchin was one of the primary reasons the original Build Back Better Act failed to advance through the Senate after passing the House, so if Senate Democrats can get him on board, there’s good reason to believe Biden’s would-be signature economic … Continue reading Dems can’t let Sinema kill their last chance to tax the rich »

The EARN Act is a giveaway to the rich

Last Wednesday, all 28 members of the Senate Finance Committee voted unanimously to advance The Enhancing American Retirement Now (EARN) Act. This is the Senate version of the retirement savings bill, SECURE 2.0, that the House voted to pass back in March. For decades now, lawmakers from both parties have proudly joined forces to pass retirement savings legislation that ostensibly makes it easier for workers to save for … Continue reading The EARN Act is a giveaway to the rich »

Time To End the Capital Gains Rate Giveaway

If you didn’t already know the federal tax law is a loophole-ridden mess that lets the ultra-rich pay a fraction of what they should, you could figure it out from this recent ProPublica headline: The Great Inheritors: How Three Families Shielded Their Fortunes From Taxes for Generations. Or, better yet, this one: How Susquehanna’s Jeff Yass Avoided $1 Billion in Taxes. Of course, if you’re … Continue reading Time To End the Capital Gains Rate Giveaway »

Honor Juneteenth by Closing the Racial Wealth Gap

This Sunday, the United States observed Juneteenth for the second time as an official federal holiday. We hope that you were able to take some time over the weekend to commemorate the day and reflect on the history of our nation and our aim toward a more just society for Black Americans. Juneteenth provides an opportunity for us all to reflect on how far we still have … Continue reading Honor Juneteenth by Closing the Racial Wealth Gap »

The Racial Wealth Gap Makes Everything Worse, Even our Democracy

Throughout the history of the United States, people of color have had a diminished voice in politics when compared to their white counterparts, largely due to discriminatory policies like poll taxes, gerrymandering, and even outright bans on their right to vote. Although access to the voting box has drastically improved over the past decade, there’s still a long way to go. We cannot claim to … Continue reading The Racial Wealth Gap Makes Everything Worse, Even our Democracy »

For Juneteenth, Let’s Abolish the Subminimum Tipped Wage

Unsplash | Dan Smedley

This Sunday, the country will commemorate the end of slavery in America by celebrating its newest federal holiday, Juneteenth. This is an important day for Black communities across America to gather and celebrate, but it’s also a moment to reflect on how far we still have to go. Black Americans still have significantly less wealth than white Americans, earn less income, and are held back … Continue reading For Juneteenth, Let’s Abolish the Subminimum Tipped Wage »

Money in politics is dangerous to democracy

Last week, the House committee investigating the January 6th attack on the US Capitol began a series of public hearings in prime time. If you missed them, you can check out an ongoing list of highlights here. As expected, Donald Trump’s election fraud lies and threats of violence have taken center stage at the hearings as direct causes of the violence that unfolded on January 6th. … Continue reading Money in politics is dangerous to democracy »

What Will Be the Effect of the Fed’s Efforts to Fight Inflation?

With prices rising significantly for families across the United States, the federal government has made controlling inflation one of its top economic priorities. One of the most important ways the government has traditionally tried to limit inflation is through the Federal Reserve raising interest rates. Raising interest rates clearly can shrink inflation, but many Americans don’t understand that it does so by deliberately slowing down … Continue reading What Will Be the Effect of the Fed’s Efforts to Fight Inflation? »

Don’t Fall for Deficit Fear-Mongering

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 »

Gig workers deserve better

In recent months, employees at a number of big-box corporations – most notably Starbucks, Amazon, Apple, REI, and Trader Joe’s – have taken historic first steps in organizing unions. For far too long, these and other companies in the service industry have treated their employees poorly, so it’s great to see workers all over the country join forces to fight back. As it happens though, these brave employees leading unionization efforts … Continue reading Gig workers deserve better »

Biden’s inflation strategy? Tax the rich

Yesterday, President Joe Biden penned an op-ed for the Wall Street Journal that outlines his three-part plan to fight inflation. We encourage you all to read it here if you haven’t already. For today’s Closer Look, we would like to highlight one of the three parts of Biden’s plan that rarely gets the attention it deserves when policymakers are talking about solutions for inflation: taxing the rich. … Continue reading Biden’s inflation strategy? Tax the rich »

Unions Benefit Us All

Labor unions have historically used the power of collective bargaining to advocate for many of the rights we now take for granted. The 40-hour workweek, overtime pay, workplace safety regulations, and the right to organize and negotiate with employers are just a few things that wouldn’t exist in America if it weren’t for the struggle of organized labor. Allowing workers the ability to organize and … Continue reading Unions Benefit Us All »

Earth to Davos! Tax the Rich

This week, nearly 2500 world leaders are gathering in Davos, Switzerland for the World Economic Forum Annual Meeting – better known as simply “Davos.” This is the first time since the start of the pandemic that international elites have gathered together in person for the annual conference. At Davos, some of the world’s richest and most powerful people gather in exclusive private meetings to discuss how to … Continue reading Earth to Davos! Tax the Rich »

Global Millionaires Demand Davos Attendees Tax The Rich

GLOBAL MILLIONAIRES DEMAND DAVOS ATTENDEES TAX THE RICH Over 150 wealthy signatories of ‘In Tax We Trust’ letter call on Davos elites to step out of their private gatherings and address global inequality Their message comes alongside new data showing that a tax on the pandemic profits of food/agriculture billionaires alone could end world hunger   Davos, Switzerland – On the third day of the Davos conference, as … Continue reading Global Millionaires Demand Davos Attendees Tax The Rich »

Millionaires Protest in Davos Against Extreme Wealth and Call for Wealth Taxes 

Millionaires Protest in Davos Against Extreme Wealth and Call for Wealth Taxes  WHAT:  As the annual meeting of the World Economic Forum opens in Davos, Patriotic Millionaires, Patriotic Millionaires UK, and taxmenow join activists from the 99% Initiative and protest outside the elite compound, calling for an end to extreme wealth and support for wealth taxes. WHEN: Sunday 22 May, 1500CEST WHERE:  Postplatz, Davos, Switzerland ————————————————————————————————————————— Davos, Switzerland – As … Continue reading Millionaires Protest in Davos Against Extreme Wealth and Call for Wealth Taxes  »

The Supreme Court is Wrong on Campaign Finance

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 »

We need to tackle excessive CEO pay and wealth

Yesterday, The Wall Street Journal released a new bombshell report on the record-breaking rise in CEO pay. For this week’s Closer Look, we want to highlight some of the report’s biggest findings and the ways in which they underscore the urgent need to tackle excessive CEO pay and wealth in America. According to the report, median pay for CEOs at American S&P 500 companies rose to … Continue reading We need to tackle excessive CEO pay and wealth »

Want to keep workers around? Pay them more

In case you missed it, the Bureau of Labor Statistics released its April jobs report last week. For today’s Closer Look, we’d like to highlight both the good news and the bad news from the report and offer our take as to what can be done about the bad news. The good news is that the economy continues to rebound from the pandemic. Last month, no … Continue reading Want to keep workers around? Pay them more »

Why I Am A Patriotic Millionaire: Jeff Huggett

At some point in everyone’s life they’ve been asked the hypothetical question, “So what would you do if you didn’t have to work for a living?” And for most of my life, that question was nothing more than an interesting thought experiment. Just something nice to think about, but of course I’d never achieve anything like that. So it came as a surprise to me … Continue reading Why I Am A Patriotic Millionaire: Jeff Huggett »