But the issue with taxes goes beyond just a question about fairness. It’s also about reducing extreme levels of economic inequality, putting a check on the ultra-wealthy’s power, and safeguarding our democracy.
The dirty little secret to having a lot of money is that it comes with power. On account of their wealth, billionaires have the ability to buy mainstream media outlets and entire social media platforms at the drop of a hat. They can spew tons of toxins into the atmosphere with their private jets, superyachts, and spaceships – setting our shared planet on fire in the process – and nobody will stop them. And most importantly, they can bankroll election campaigns, right-wing institutes that provide intellectual backing for policies that help their economic interests, and other political entities to the tune of billions, virtually guaranteeing that their preferred candidates come out on top on Election Day and that a network is already in place for those candidates to do their bidding once in office.
Inequality is a major problem, but the good news is that the solution is simple and staring us all right in the face: taxes. Reforming our tax code to ensure that wealthy people like us finally start paying what we owe is the simplest and single most important thing that lawmakers can do to put a check on democracy-destabilizing inequality. What’s even better is that there are already plenty of specific legislative solutions out there for elected officials to choose from to achieve this aim. In recent years, the Patriotic Millionaires helped to introduce two transformative pieces of tax legislation: the OLIGARCH Act and the American Stability Act.
Let’s be clear: no one, including us, likes Tax Day. But we recognize that we have a patriotic duty to pay taxes along with our fellow citizens, and would be happy and proud to pay more if it means securing the future health and stability of our beloved country.
Tax the rich!
