Most Americans pay taxes every other week. Part of every paycheck is withheld, then they file taxes in April to account for the difference. Rich people file a tax return in April too, but in any given year they are probably not paying any taxes on a huge part of the increase in their personal wealth. That’s because the majority of a rich person’s “income” … Continue reading Rich People Should Pay Their Taxes Every Year Too
There’s a plumbing problem in Cupertino, California, and the stench emanates from the fabled Space Ship corporate headquarters of one of the richest, most valuable companies in the world. Reminds me of a 500 year old apartment in France I once rented, but, this case, its a 22 year old tax deal that makes my stomach queasy. I did primal code at NeXT, release after … Continue reading Apple’s Foul Odors
On Wednesday, May 15th, Patriotic Millionaire Abigail Disney appeared before the House Committee on Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets to testify on out-of-control executive compensation in corporate America.
We do things together for a reason. We act as a society to take care of the things we can’t fix ourselves.
Filing your taxes can be time-consuming, confusing, and expensive. That’s no accident.
The saga of Boeing’s failed 737 Max has been continuously in and out of the news since the horrible crashes involving the aircraft in Ethiopia and Malaysia. This is somewhat unusual for a media environment with such a short attention span, but there’s a reason Boeing’s failure is the story that just won’t go away. The more that investigators and journalists dig into the crashes, … Continue reading Negligence, Corruption, and the 737 Max: Boeing Shows the Rot in Our Regulatory System
California residents are being held hostage, and local cities are paying their ransom. The culprits? Wealthy corporations.
When Floridians voted yes on Amendment 4 last year, they spoke loud and clear: 65% voted to restore voting rights for Floridians who completed a felony sentence (except for felony sex crimes and murder), opening the door for over 1.5 million disenfranchised Floridians to regain their voting rights. But on Wednesday, the Florida House passed a measure requiring those with felony convictions to pay up … Continue reading Florida Republicans Are Bringing Back Poll Taxes
Tax Day has come and gone, and Americans are still trying to make heads or tails of their taxes this year. But for many large corporations, the picture is much clearer: 60 Fortune 500 companies paid absolutely nothing in federal taxes this year. That’s twice as many as last year, and the GOP’s tax law is to blame. Huge corporations have moaned about the old … Continue reading 60 Huge Corporations Skipped Taxes in 2018
Today, April 22nd, 2019, is Earth Day. Right now, according to a coalition of the most knowledgeable scientists from across the world, we have less than 11 years to cut our emissions in half if we have any hope of stopping the most devastating, nature-collapsing consequences of climate change. While scientists and politicians (rightly) talk about renewable energy sources, carbon capture technologies, and climate mitigation, … Continue reading An Unequal Country Can’t Fight Climate Change
Under the Trump administration’s proposed 2020 budget, over 750,000 Americans stand to lose Supplemental Nutrition Assistance Program (SNAP) benefits, better known as food stamps. The new rules would require all able-bodied adults without dependents to prove that they are working to receive this critical assistance, regardless of local job market conditions or other key factors. The average SNAP benefit is $126 a month per person. … Continue reading Nickel-and-Diming the Poor, Freebies for the Rich
It’s Tax Day, so by now Americans have had a chance to see how their filings stack up against Trump’s promises. Working folks are largely unimpressed, but millionaires like us made out like bandits. When Republicans pitched the Tax Cuts and Jobs Act of 2017 (TCJA), they sold it as a tax break for the middle class, but despite lower income tax rates and a … Continue reading Thanks, But No Thanks: Stop Bleeding the Middle Class to Cut Our Taxes
Whether it’s democratic socialist Rep. Alexandria Ocasio-Cortez (D-NY) campaigning for it on Twitter or angry pundit Tucker Carlson foaming at the mouth about it on his nightly Fox News show, everyone is talking about taxing the rich. This is an issue that is set to dominate American political debate heading into the 2020 elections. In that spirit, the Patriotic Millionaires are launching a multi-year, multi-platform … Continue reading The Patriotic Millionaires Present: TAX THE RICH! Livestream
Opportunity Zones are a great idea — if your goal is to ensure that rich real estate investors never need to pay any taxes at all.
Let’s take a closer look at these plans to fix the estate tax and why they’re exactly the kind of tax plans that this country needs.
“Ultimately, progress must come from all corners of society.” Those words came from an unlikely source on Tuesday, when Genna Gent, Vice President of Government Relations for McDonald’s, sent a letter to the National Restaurant Association announcing that the fast-food behemoth would no longer lobby against minimum wage increases at federal, state, or local levels. Instead, she said, the company would move to “advance – … Continue reading The Golden Arches Stand Down in the Fight for $15
As the 2020 primaries heat up and candidates search for a way to distinguish themselves in such a large field, one issue has transformed into a key debate of the campaign: how to tax the rich to ensure a more equitable, prosperous society. Many of the candidates have bold tax plans, from Senator Sanders’s bill to expand the estate tax to Senator Booker’s baby bonds … Continue reading 2020 Contenders Embrace the Wealth Tax
While the country’s eyes have been turned towards the big, bad federal budget for the past week, there’s an important fight brewing in New York over the state’s own budget, due on April 1st. This disagreement pits New York Governor Andrew Cuomo and a small group of lawmaker holdouts against the will of the majority of New Yorkers in a battle to include higher taxes … Continue reading An Ultra-Millionaire Tax Will Make New York Better. Why Is Cuomo Resisting?
There is no amount of money that equals the worth of a human life. This should be the preface to every debate we have about our gun laws in this country, and the only afterword to every mass shooting. It is what we should remind ourselves of, shamefully, when our government does absolutely nothing to stop the next shooting because of the stranglehold that the … Continue reading Campaign Finance Reform Will Literally Save Lives
For years, the American people have seen the gap between the rich and the rest of the country grow out of control. In recent years however, especially since Republicans passed their massive overhaul of the tax code that gave over a trillion dollars in tax cuts to the wealthy, the divide has been widening more and more quickly. Since the early 1980s to today, the … Continue reading It’s Time to Address the Growing Concentration of Wealth