‘Tis the Season for Sticker Shock

‘Tis the season for holiday sticker shock! As Americans finish the last bits of their holiday shopping, they are feeling the heat of higher prices. Thankfully, inflation has certainly cooled down since last year: the Consumer Price Index rose 3.1% over the year ending in November 2023, compared to a 7.1% rise over the year before. But unfortunately, while prices for groceries, gas, rent, and other essentials aren’t rising … Continue reading ‘Tis the Season for Sticker Shock »

Republicans’ Track Record on Tax Evasion is Abysmal

Last week, President Biden’s son Hunter was indicted on nine counts of tax evasion by David Weiss, the special counsel leading an investigation into Hunter’s business dealings. The 56-page indictment alleges that, between 2016 and 2019, Hunter failed to pay at least $1.4 million in federal taxes, and instead used the millions he received in income over that period to fund an “extravagant lifestyle.” Republicans who see the Biden … Continue reading Republicans’ Track Record on Tax Evasion is Abysmal »

Meet America’s New Aristocracy

Oh, to be a billionaire in 2023 – but particularly one born with a silver spoon in their mouth. You’ve heard the Patriotic Millionaires talk about how billionaires took advantage of the COVID-19 pandemic to dramatically enrich themselves while workers got slammed. To sum it up quickly, the global billionaire class increased their collective wealth by a whopping $2.6 trillion between 2020 and 2022. But what has … Continue reading Meet America’s New Aristocracy »

Sounding Alarms and Waving Flags about Moore v. US

Next week, the Supreme Court will hear oral arguments for Moore v. United States. At the eleventh hour, this seemingly esoteric case is starting to get “Moore” attention from the broader public, which is a welcome development considering the damage it could do in the fight for tax justice in America. For several months, the Patriotic Millionaires have been sounding the alarm over Moore v. United States. … Continue reading Sounding Alarms and Waving Flags about Moore v. US »

Giving Thanks and the Fights Ahead

Like many of you, the Patriotic Millionaires will be sitting down with our friends and family in the days ahead to give thanks for the blessings of the previous year, celebrate our achievements, and commiserate with our communities. By most objective measures, there is much to which we can toast: from the recent successes of organized labor to declining inflation and a strong job market, … Continue reading Giving Thanks and the Fights Ahead »

Unions are on a roll

The labor movement roared back to life this year, and everyone from factory floors to C-suite offices has taken notice. Yesterday, the Senate Health, Education, Labor, and Pensions (HELP) Committee conducted a hearing about the resurgence of unions in America. In his opening remarks as Chairman, Senator Bernie Sanders (I-VT) highlighted the 450,000 union workers that have gone on strike this year for better wages, benefits, and working conditions – a … Continue reading Unions are on a roll »

Morris Pearl Testifies Before Congress: “Tax me!”

The Patriotic Millionaires are always up to exciting things, but today was exceptional: our Chair, Morris Pearl, testified in person before the Senate Committee on Finance at their hearing, “Examining How the Tax Code Affects High-Income Individuals and Tax Planning Strategies.” The hearing focused on the ways in which the tax code treats wealthy Americans like Morris and our members, with a particular focus on … Continue reading Morris Pearl Testifies Before Congress: “Tax me!” »

Delusions of Philanthropy

There is no denying that Big Tech and its well-known industry leaders have done the world plenty of good. The device you’re using to read these words, and the speed at which you downloaded them, would not exist if not for their relentless spirit of innovation and their desire to push technological boundaries. But an old rule still applies: outsized success inevitably engenders hubris; that … Continue reading Delusions of Philanthropy »

Je suis riche, taxez-moi!

The Patriotic Millionaires have a very simple message for the world: “Je suis riche, taxez-moi!” Our organization was recently profiled in a feature-length piece in Le Monde, the most circulated newspaper in France and one of the top newspapers in all of Europe. This is a pretty big deal, and will undoubtedly attract more public interest in our mission across the world. Our Chair, Morris Pearl, and Vice-Chair, Stephen … Continue reading Je suis riche, taxez-moi! »

Republicans’ Chaos with the National Debt

As of this writing, the U.S. House of Representatives still has no official Speaker after Rep. Kevin McCarthy was ousted by his own party two weeks ago. While the House’s inability to govern itself is a sad reflection of the current state of our democracy, there is a silver lining in Republicans’ embarrassingly tumultuous infighting: they are telling on themselves and making it painfully clear to the rest … Continue reading Republicans’ Chaos with the National Debt »

The Economics of Social Issues

“It’s the economy, stupid” is an oft-repeated truism in politics, quoted by politicos and Beltway journalists alike, after James Carville minted the phrase during the 1992 Presidential election. While the triangulating politics of the 1990s have not aged well, this phrase remains embedded in our lexicon because it was straightforward and carried with it generally helpful guidance for how candidates should run their campaigns. But the simplicity … Continue reading The Economics of Social Issues »

Monopolies are for board games

Corporate monopolies have been receiving get-out-of-jail-free cards for too long in America. The Justice Department and the Federal Trade Commission are finally stepping up to challenge this wildly rigged economic board game. Over the last month, the Biden administration has lodged suits against two corporate behemoths, Google and Amazon, over accusations of illegal monopolistic practices. The suits failed to attract a level of media attention befitting the scale … Continue reading Monopolies are for board games »

Labor, Past and Present: Shawn Fain and Sidney Hillman

The boardroom at Amalgamated Bank is named after Sidney Hillman. As you enter through the vestibule, you’ll notice an impressively large plaque with the names of the founders of Amalgamated. The room itself has perhaps twenty seats around the table, and another dozen or so against the walls. The East side of the room has a giant screen and a camera for video conferences.  The … Continue reading Labor, Past and Present: Shawn Fain and Sidney Hillman »

Republicans’ Rap Sheet on Workers

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 Gap Between 36% and 1,460%

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% »

The UAW is revving up to strike

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 »

Bank Regulators Have Conflicting Goals

Last month, POLITICO published an article that detailed a new mortgage rule that the Federal Reserve is proposing. Specifically, the Fed is looking to disincentivize banks from offering low down payment loans to consumers by making them more expensive, with the aim of avoiding a repeat of the 2008 financial crisis. Civil rights and housing groups have joined forces with banks to push back against … Continue reading Bank Regulators Have Conflicting Goals »

Dear G20 Leaders: Tax Extreme Wealth!

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! »

Back to School for The New York Times

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 »

Economic anxiety and the labor immune response

We at the Patriotic Millionaires spend a great deal of time talking about wealth inequality, from the drag it puts on our economy to the way it acts like jet fuel for extreme politics. But one aspect of wealth inequality we don’t regularly touch on is the emotional and human toll brought on by its effects. A recent New York Times guest essay asked a very simple … Continue reading Economic anxiety and the labor immune response »