You may think that Bill Gates is doing the world an enormous service by giving away nearly all of his fortune over the next twenty years. But the truth is that he’d be doing us all an even greater service if he spent a portion of his remaining time and money doing everything he can to change our country’s political economy to ensure that wealth isn’t concentrated in the hands of so few people and that, in the future, no single individual is able to attain his level of wealth and power in the first place.
It’s not often we need to email you on a Monday, so if we are, it has to be for a good reason. And believe us, we have one: May 11, 2025 marked the official launch of Patriotic Millionaires Canada!
America’s Most Regressive Tax Levy: Our Tax on Capital Gains
Our current effective tax rate on capital gains shrinks as the gains grow in size and duration, inviting the tax dodge — Buy–Hold for Decades–Sell — that’s driving America’s wealth concentration.
In their quest to win back the working-class vote, Democrats have recently taken one step forward and two steps back. For this week’s Closer Look, we’d like to tell you about these steps – and what we believe Democrats need to do to get on the right track.
Last week, we told you about Trump’s strategy to “flood the zone” by ushering in an endless parade of policy changes in an effort to totally overwhelm his opponents and hamper their ability to effectively fight back. It’s now week three of Trump’s second term, and unless you’ve been living under a rock, you’ve probably noticed that his flood zone has become something of a tsunami.
Democrats need a tax life raft in Trump’s flood zone
President Trump has been in office for nine days, but it feels more like nine years in light of how much his administration has already managed to do and change.
On Monday, the world marked two important beginnings: the start of President Donald Trump’s second term and the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland – better known as simply “Davos.” What we witnessed of the attendees at one event made us all the more confident in our demands of the attendees at the other.
We usually use this newsletter to discuss national news. But this week, we’ve decided to buck tradition by spotlighting what’s going on right now with wages in Michigan – and explain why the outcome of this state-level battle has serious implications for the Democratic party as a whole.
Happy New Year! We hope that you and those close to you have had a wonderful start to 2025. We might be millionaires, but we’re no different than most when it comes to setting New Year’s resolutions. We think goal setting is important in any year and season, but especially this year as Republicans assume their “trifecta” of control in both chambers of Congress and the White House in less than two weeks.
Heard About Buy-Borrow-Die? Meet Buy-Hold for Decades-Sell
Billionaire investment gains that don’t escape tax entirely end up taxed far more lightly than most Americans realize. A ‘Billionaires Income Tax’ could fix that.
As I’m sure you’ve seen, the debt ceiling is in the news again as President Elon Musk and VP Donald Trump try to figure out how to lead the incoming kakistocracy. We thought it would be helpful to explain the issue and the negotiations around it, if you’re looking for some light reading as you finish up your holiday shopping.
Last night, President Elon Musk and Vice President Donald Trump—yes, you read that right—joined forces to kill a funding deal crafted by congressional Republicans to keep the government from shutting down on Friday. Good riddance. If Democrats are going to provide the majority of votes for a short-term government funding bill, it shouldn’t be one that would help unwind one of the signature accomplishments of the Biden era: cracking down on rich tax cheats.
Today, the Patriotic Millionaires joined forces with the Revolving Door Project to launch a grassroots letter campaign – housed at FreeCharlesLittlejohn.com – to urge President Biden to commute the prison sentence of Charles Littlejohn. For this week’s Closer Look, I want to tell you about Charles Littlejohn, make my case as to why he deserves clemency from the president, and do my best to encourage you to join our cause.
