A Closer Look: Young people need the Working Americans’ Tax Cut Act
As a still-young (kinda) person myself, and the mother of a young person who will be starting his college journey next year, I worry a lot about what we are doing—and more importantly, not doing!—to ensure that young people still have a chance at the American Dream.
It's only been five weeks, but the good news on unions just keeps piling up—so much so that we feel we are in for a repeat of the summer of 2023. You may remember that was what organizers called “Hot Labor Summer,” given the historic victories that unions notched for workers across a variety of industries.
Here are a few of the ways that the Working Americans Tax Cut Act, or WATCA for short (S. 4083/HR 7937) provides a boost to hardworking low-income households while avoiding the pitfalls of other proposals.
We saw the interview that you gave last week to Andrew Ross Sorkin on CNBC’s “Squawk Box,” and wanted to respond to some of the things you said that relate to our three-pronged mission to tax the rich, pay the people, and spread the power. There are places we agree, and areas we do not. We hope that you will approach this letter with an open mind, and consider joining us in our work.
A Closer Look: Zohran gave Democrats a blueprint to win
We’ve been saying this for years, but Zohran Mamdani’s victory last night in the New York City mayoral election made it abundantly clear: economic populism is the way forward for Democrats to win back the affections of working people.
As we enter the final days of October and nearly a month into the government shutdown, it’s worth taking time to examine the economic activity in the United States and what we can anticipate in the coming months.
A Closer Look: Ghosts, witches, vampires…and broligarchs?!
We are in the final days of “spooky season,” but luckily for us, we don’t get scared by all the ghosts, witches, vampires, and black cats that make a big appearance this time of year. But what we are spooked by is the inner workings of the minds of broligarchs.
A Closer Look: To billionaire or not to billionaire, that is the question
There are nuanced conversations to be had in defining how much is too much when it comes to personal wealth. Today, we’re ready to take on that challenge and start by saying this: $1 billion is more than enough.
A Closer Look: Extreme wealth is a global problem. We have global solutions.
If money knows no borders, it shouldn’t be surprising that neither does our message. It’s universal and relevant to countries across the globe. That’s why each fall and spring, it’s important to us that we take our message to some of the world’s brightest economic and financial leaders during the Annual Meetings of the World Bank Group and International Monetary Fund (IMF).
Today is my birthday. Some people do not like their birthdays. I am not one of those people. I love my birthday. People have to be nice to you and you can pretty much do/say whatever you want (within reason). For my birthday this year, I asked the Patriotic Millionaires’ team if I could write this week’s Closer Look, our normally calm, measured, and eminently reasonable weekly thought piece about the economy. Shockingly they said yes, which I’m absolutely sure has nothing to do with the fact that I’m the boss.
On Wednesday morning, millions of Americans woke up to the news of a federal government shutdown. The government will remain closed until Senate Democrats and Republicans agree on a funding bill to pass, which isn’t looking likely anytime soon. While Trump can still do a lot of damage while the government is shuttered, it’s nonetheless a good opportunity to pause and reflect on the last nine months.
The “Good Billionaires” Abhor Anti-Oligarchy Tax Policy Too
Liberals often praise Warren Buffett for his statement about paying tax at a lower rate than his secretary, to show that not all billionaires are ridden with greed and won’t resist efforts to tax them more vigorously.
A Closer Look: The real culprit behind the Jimmy Kimmel fiasco is extreme inequality
It’s easy to point the finger at President Trump for all of the blatant attacks we’ve seen in recent days on the press and the right to free speech. We cannot ignore, however, that the real culprit behind the assaults on our democracy that we’re witnessing isn’t Trump, but rather the extreme concentration of wealth in America that enables him.
Adjusted Gross Income: The False Premise of Tax Apologists for the Ultrarich
This recent Youtube presentation by Steve Ballmer is a primer of sorts on taxation in the U.S. Ballmer, the 8th wealthiest American, whose wealth, depending on the day, is around $150 billion. He covers a lot of ground in the video, but focuses most on the federal income tax.
A Closer Look: Our money always wins in the tax arena
Last week, we told you the story about how our tax code pits our money against your sweat in a cage fight and how it’s crowned our money the winner. This week, we’re going to tell a different story about how our money always wins—even when there’s no cage fight at all.
