Unlike President Trump and congressional Republicans, we’re not letting go of our proposal to raise taxes on the rich. While they may have ideas and “concepts of a plan,” we are the ones with a legitimate, well-constructed legislative agenda that will deliver real and substantive relief to working people.
At a press conference in August 2024, while standing in front of a table stacked with grocery staples, then-presidential candidate Donald Trump said, “When I win, I will immediately bring prices down, starting on day one.” We’re now officially 100 days into Trump’s second presidency, and not only did the president break that promise, but he is actively pursuing a policy agenda that will make America’s checkout lines wildly more expensive than they already are.
We don’t think it’s too much to ask to have an IRS that is equipped to collect the taxes that Americans owe and to help working people file their returns without undue burden. It’s a pity that the Trump administration disagrees.
The nightmare scenarios anti-tax groups paint ignore the huge impact of ‘buy-hold for decades-sell’ tax avoidance on the taxes our ultra-rich end up paying.
Our Senior Vice President of Tax Policy, Bob Lord, has been on a roll for the last few weeks – so much so that we’ve decided to devote an entire Closer Look to bragging about him!
If lawmakers take their oath to uphold and protect the law seriously, they must unconditionally support properly funding the IRS. Otherwise, they are, by definition, criminal apologists – or, in the case of the current GOP presidential nominee, criminals themselves.
Tech broligarchs’ weird adoration of Donald Trump is problematic for a number of reasons, but their fears about having taxes levied on their unrealized capital gains may explain why they’re so willing to abandon the basic tenets of democracy to support their fellow billionaire.
Turns out, the biggest pro-worker piece of Donald Trump’s proposed economic agenda isn’t very pro-worker after all. On June 9, at a campaign rally in Las Vegas, Trump pledged to eliminate taxes on tipped income if he wins the White House again.
What You Need to Know About Kamala Harris’ Record on Taxes
As of this writing, Vice President Kamala Harris has secured support from enough delegates to become the Democratic Party’s nominee for president at the Democratic National Convention next month. With Harris now at the top of the ticket, we’d like to use this week’s Closer Look to explore her record on taxes.
The Economist is Wrong About Unrealized Capital Gains
I have been a subscriber to and reader of The Economist for almost 20 years. I have appreciated their balanced and intelligent coverage of world events, with a perspective of classical economic liberalism. Yet I find myself in the unusual position of taking issue with two of their recent articles: “How to tax billionaires – and how not to” and “America’s rich never sell their assets. How should they be taxed?”
Republicans have done a lot of damage to the American tax code over the years by giving massive and harmful cuts to the wealthy and corporations. But if they win back the White House and get the chance to implement Project 2025, that damage will be supercharged to another level.
We’ve known for a while that next to none of the spoils from the 2017 Trump tax bill’s infamous corporate tax cut trickled down to workers. But now, thanks to recent reporting from some of our allies, we’re more certain than ever that the cut’s benefits instead gushed up to wealthy shareholders like many of us.
We here at the Patriotic Millionaires like to use Independence Day to remind ourselves what patriotism means and why we go about calling ourselves “patriotic” in the first place. And judging by recent events at the Supreme Court, this refresher on American patriotism is sorely needed.
We’ve known for a while now that our desire for lawmakers around the world to raise taxes on wealthy people like us isn’t fringe. But now, we officially have the numbers to back it up – and a blueprint for how international leaders can institute minimum standards for taxing the global rich.
