Tag Archives: billionaires

What is Democracy Worth to Billionaires?

We’ve always wondered how much billionaires would be willing to pay for American democracy, and now we have the answer: $4.6 trillion. Last Thursday, Donald Trump became the first former president to be convicted in a criminal trial after a Manhattan jury found him guilty of falsifying business records to conceal a hush-money payment to a porn star. It’s too early to tell what kind of impact … Continue reading What is Democracy Worth to Billionaires? »

Political Power Cannot be a Family Heirloom

Family businesses – from restaurants to hardware stores to plumbing companies to hair salons – make up the beating heart of America. But when the “family business” is wielding unfathomable wealth to influence our democracy, it becomes a problem. Last week, our allies at Americans for Tax Fairness (ATF) published a report, “The Billionaire Family Business,” which revealed the enormous sums that billionaire families have … Continue reading Political Power Cannot be a Family Heirloom »

The G20 must act. Tax us, the super rich!

The Patriotic Millionaires have a message that the G20 finance ministers literally can’t miss: “The G20 must act. Tax us, the super rich! We are proud to pay more.” The leaders of the world’s leading economies are in town for the Spring Meetings of the International Monetary Fund (IMF) and World Bank. So naturally, we took it upon ourselves to project our simple message onto the … Continue reading The G20 must act. Tax us, the super rich! »

Patriotic Millionaires to United Nations: Tax the Rich, Save the World

If you’re serious about taxing the rich, you have to think globally. Over the last few years, the Patriotic Millionaires have made an urgent case for immediate international cooperation on tax fairness. Slowly, but surely, we are breaking through. And last week, we took our unique message to an audience who had never heard it quite the way the Patriotic Millionaires tell it: the United … Continue reading Patriotic Millionaires to United Nations: Tax the Rich, Save the World »

Taxes are having a moment

Taxes are having a moment. Tomorrow night, President Biden will deliver his annual State of the Union address before both houses of Congress. He is expected to touch on a number of critical issues, but early reports suggest the President will emphasize economic populism, and in particular, call for the ultra-wealthy and corporations to pay more in taxes. In what may be his biggest televised appearance before … Continue reading Taxes are having a moment »

If Durbin Crows About Subpoenas, He Needs to Issue Them

It’s encouraging that the Senate Judiciary Committee has decided to get to the bottom of questions regarding billionaire influence and corruption at the Supreme Court. Now, it’s time they rolled up their sleeves and got their hands dirty to actually make it happen. The last time that we told you about the ethics controversy at the Supreme Court was back in August. We outlined a number of … Continue reading If Durbin Crows About Subpoenas, He Needs to Issue Them »

The Definition of a Trillionaire

As of this writing, Merriam-Webster’s dictionary does not have a definition for the word “trillionaire.” But they may want to start drafting one because experts are predicting we’ll need it in about 10 years’ time. Last week, we told you about Oxfam’s new eye-popping report, Inequality Inc. All of the top-line findings were jaw-dropping, but one in particular has generated a significant amount of buzz: if … Continue reading The Definition of a Trillionaire »

Proud to Pay More

If there’s one thing that we want the world leaders at Davos to know, it’s this: we would be proud to pay more in taxes. This week, over 2,800 elites from business, academia, politics, civil society, and the arts are attending the World Economic Forum Annual Meeting in Davos, Switzerland – better known as simply “Davos.” The theme of this year’s conference is “Rebuilding Trust,” with many discussions centering around geopolitical … Continue reading Proud to Pay More »

Meet America’s New Aristocracy

Oh, to be a billionaire in 2023 – but particularly one born with a silver spoon in their mouth. You’ve heard the Patriotic Millionaires talk about how billionaires took advantage of the COVID-19 pandemic to dramatically enrich themselves while workers got slammed. To sum it up quickly, the global billionaire class increased their collective wealth by a whopping $2.6 trillion between 2020 and 2022. But what has … Continue reading Meet America’s New Aristocracy »

Sounding Alarms and Waving Flags about Moore v. US

Next week, the Supreme Court will hear oral arguments for Moore v. United States. At the eleventh hour, this seemingly esoteric case is starting to get “Moore” attention from the broader public, which is a welcome development considering the damage it could do in the fight for tax justice in America. For several months, the Patriotic Millionaires have been sounding the alarm over Moore v. United States. … Continue reading Sounding Alarms and Waving Flags about Moore v. US »

Delusions of Philanthropy

There is no denying that Big Tech and its well-known industry leaders have done the world plenty of good. The device you’re using to read these words, and the speed at which you downloaded them, would not exist if not for their relentless spirit of innovation and their desire to push technological boundaries. But an old rule still applies: outsized success inevitably engenders hubris; that … Continue reading Delusions of Philanthropy »

Oligarchy Comes for the Supreme Court

If you need more proof that America is slipping further and further into oligarchy, look no further than recent revelations about the Supreme Court. Oligarchy is a form of government in which a small group of typically wealthy and corrupt people wield power. It derives from the Greek words oligoi (“few”) and arkhein (“to rule”). Over at the Patriotic Millionaires, we regularly describe how oligarchs use their wealth to sway … Continue reading Oligarchy Comes for the Supreme Court »

We need to choose democracy

“We can have democracy in this country, or we can have great wealth concentrated in the hands of the few, but we can’t have both.” Supreme Court Justice Louis D. Brandeis (1856-1941) Last week, former President Donald Trump was indicted on charges related to his efforts to overturn the legitimate democratic results of the 2020 election. The announcement comes on the heels of Trump’s other two indictments: one … Continue reading We need to choose democracy »

Get ready for Moore trouble with the Supreme Court

The Supreme Court has been on a roll lately, but, unfortunately, not in the right direction. On June 29, the conservative majority on the Court voted to strike down affirmative action admissions policies at our nation’s colleges and universities. (Click HERE to read the Patriotic Millionaires’ response to the decision.) The next day, June 30, the same majority then voted to block the implementation of President Biden’s student loan forgiveness program. … Continue reading Get ready for Moore trouble with the Supreme Court »

Demanding Change at Davos

As the rich and powerful have gathered this week in Davos for the World Economic Forum’s (WEF) Annual Meeting, there has been a lot of talk about how to make the world a better place. Davos attendees, from world leaders to billionaires, have made a massive show of how they will build “Cooperation in a Fragmented World,” as the title of this year’s gathering is … Continue reading Demanding Change at Davos »

Are America’s billionaires oligarchs?

Are America’s billionaires oligarchs? It’s a strange question for many who see oligarchs as a uniquely foreign problem. But the answer is, without a doubt, yes. We’ve heard a lot about oligarchs in the news over the last year, as Russia’s unprovoked invasion of Ukraine has sparked a fierce international backlash against the aggressors and brought attention to the inner workings of the Russian state. Along with a … Continue reading Are America’s billionaires oligarchs? »

Elon Musk and the Oligarch Takeover of America

If you hadn’t heard, Elon Musk – Tesla and SpaceX CEO and the single richest man in the world – is just days away from closing his deal to buy Twitter for $44 billion. After a tumultuous, months-long legal drama, a judge finally gave Twitter and Musk an ultimatum: reach a settlement on your own by this Friday, October 28, or face trial in November. With the deadline … Continue reading Elon Musk and the Oligarch Takeover of America »

Don’t Trust the “Good Billionaires”

Last week, we introduced you to our take on “The Tale of Two Billionaires.” For this week’s Closer Look, we want to take this story wider, and look at the billionaire class as a whole. There are only about 735 billionaires in the United States, but despite the fact that they could all fit on a single Airbus 380 jet, this group holds an immense amount of … Continue reading Don’t Trust the “Good Billionaires” »

A Tale of Two Billionaires

America is writing a new chapter in its history books that could be entitled: “A Tale of Two Billionaires.” On one side of the story is Yvon Chouinard, the founder of the popular outdoor apparel company Patagonia. Chouinard made headlines this week when he did what most billionaires would consider unthinkable: he gave his entire fortune away. Chouinard transferred ownership of Patagonia, valued at $3 billion, to … Continue reading A Tale of Two Billionaires »

A Letter to Bill Gates

Below is a letter sent to Bill Gates, founder of Microsoft and the Bill & Melinda Gates Foundation, on July 28, 2022 by Jeffrey R. Huggett, a member of the Patriotic Millionaires.   Dear Bill, Like so many others recently, I read your blog announcing substantial personal contributions to the Bill and Melinda Gates Foundation. Whereas I am thrilled about the important work you fund … Continue reading A Letter to Bill Gates »