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.
