States are ramping up efforts to tax the super rich
It’s clearer than ever that the effects of the national rise in economic inequality are spilling over into local communities. With the federal government lacking the necessary urgency to respond to and address the crisis, states are taking matters into their own hands and proposing their own millionaire taxes. From coast to coast, officials have proposed all sorts of measures to raise the wealthy’s tax bills.
According to President Trump, the state of America’s union is STRONG, the Golden Age is upon us, and “we’re winning so much that we really don’t know what to do about it.” All true…for multimillionaires like us. For the 86% of Americans who are worried about the price of groceries? Not so much.
My name is Dr. Kaitlyn Henderson. I joined the Patriotic Millionaires four months ago as the organization’s Senior Director of Wage Policy and Legislative Affairs. I came from Oxfam America, where I was the Senior Researcher leading their domestic portfolio on wages and labor and the staff-elected board member.
President Trump can’t seem to make up his mind as to whether America is suffering an affordability crisis. One day he declares himself the “AFFORDABILITY PRESIDENT” on social media for his efforts to lower prescription drug prices. Three days later, he says that affordability “doesn’t mean anything to anybody” and is a “fake narrative” and “con job” cooked up by Democrats.
That’s a Wrap: Patriotic Millionaires’ 2025 Fall Member Summit
Last week, our millionaire members flocked to Washington, D.C., from every corner of the country to do two hugely important things: discuss the biggest problem plaguing America today—MONEY—and get the message out about the solution we have to it: The MONEY Agenda.
A Closer Look: Obscene CEO pay is bad for business and society
CEOs getting paid 281 times more than their workers is most assuredly a problem. But one CEO receiving a trillion-dollar pay package that’s 17 million times more than what their workers are paid is a whole different story.
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.
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.
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.
