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.
Here at the Patriotic Millionaires, Tax Day serves as a yearly reminder that the ultra-wealthy can bypass many of the frustrating hurdles in our tax code at the expense of working people— and that it’s on us to continually call on lawmakers to raise our taxes. But now more than ever, we need Congress to act urgently, as we are facing an inequality crisis so extreme that it threatens the essence of our democracy.
It’s hard to believe that we are just 12 days away from Election Day. The Patriotic Millionaires have never minced words, and we’re not going to start now: the stakes are extraordinarily high.
If you were a rich Wisconsinite striving to get even richer and you had little regard for intellectual honesty or the well-being of your fellow citizens, you would agree with Sen. Ron Johnson’s remarks at last month’s Senate Finance Committee hearing. Otherwise, you’d find the senator’s views troublesome, to say the least.
A CEO Makes the Business Case for the American Stability Act
This is John Driscoll again. If you remember, I’m the Patriotic Millionaire who wrote to you a few weeks ago to give you a full rundown on the state of wages in America, and why there’s a strong business case for paying people higher wages.
America is suffering from twin wage and tax crises, and today, the Patriotic Millionaires are excited to announce a bold, innovative solution we’ve worked on with our allies on the Hill! Today, with support from our organization and a number of cosponsors, Representative Summer Lee (PA-12) has introduced the American Stability Act.
Bank of America is Showing that Higher Wages and Good Business Can Coexist
Bank of America just announced that it will increase its company-wide minimum wage in October to $24 an hour, one of the highest wage floors in the United States. This $1 increase from the company’s current wage floor is more than good news for BofA’s employees – it’s further evidence that doing well and doing good can and should coexist in corporate America.
My name is John Driscoll. I am a member of the Patriotic Millionaires and a Senior Advisor to Walgreens Boots Alliance and the EQT Group. Previously, I was the CEO of CareCentrix, Group President for New Markets at Medco, and Executive Vice President at Walker Digital.
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.
