Donald Trump has won a second term in the White House. As of this writing, he has secured 295 electoral votes and, while millions of ballots are still being counted, forecasts say he is likely to win the popular vote after a collapse in support for Vice President Harris in urban areas.
In response to Trump’s victory, our Chair, Morris Pearl, released the following statement to the press:
“A self-avowed authoritarian successfully wielded the economic frustrations of millions to win the most consequential election of our nation’s history. The Democratic establishment has only itself to blame. Voters demanded a fundamental overhaul of a rigged economic system. When neo-liberal Democrats dithered, Donald Trump offered to clear the board, and voters chose the dark unknown rather than the status quo.
The only question remaining is, why are Democrats surprised? This is the entirely predictable result of a multi-decade strategy to appease the rich that met no serious resistance.
This round went to the oligarchs. But rest assured, Patriotic Millionaires will rise to the fight. We’ve only just begun.”
Besides the White House, Republicans have also retaken majority control of the Senate and are looking increasingly likely to do the same with the House. In the end, there’s no way around it: Republicans resoundingly won the election. The billionaires who spent big – and spent big overwhelmingly on Republicans – got their way.
While they might not be receiving a lot of media attention, there are some silver linings that came out of this cycle that we are celebrating. Three of our endorsed candidates – Sarah McBride (DE-AL), Kristen McDonald Rivet (MI-08), and Josh Riley (NY-19) – won their respective races. We are also encouraged to see two of our other endorsed candidates – Janelle Bynum (OR-05) and Kirsten Engel (AZ-06) – leading in the vote count for their races, which have yet to be called. Lastly, we are thrilled that voters in Alaska and Missouri – two traditionally “red” states – passed initiatives to raise their states’ minimum wages to $15 an hour and that Arizona voters also rejected an attempt to lower the tipped minimum wage.
We’ll have more to say about the election results and how we got to this moment in history in the coming weeks and months, especially with the 2025 tax battle looming on the horizon. But for now, we’d like to echo what Morris said in his statement: no matter what happens, and no matter how upset or disappointed we are, rest assured that the Patriotic Millionaires aren’t going anywhere. No matter who is in office, we will continue to fight to make the tax code more equitable. We will continue to fight for fair, livable pay for all workers. And we will continue to fight to reform our political system to ensure millionaires like us have no more say over the direction of our country than anyone else.
Tax the rich, pay the people, spread the power!