Tag Archives: Economics

The Republican Witnesses We Would Have Heard Today

December 12, 2018 Staff

While they still control the legislative agenda, Republicans on the House Education and the Workforce Committee planned to use their power to falsely claim that raising the minimum wage would somehow be bad for workers. To do so, they planned a hearing on the federal minimum wage titled “Mandating a $15 Minimum Wage: Consequences for Workers and Small Businesses,” with a full list of biased … Continue reading The Republican Witnesses We Would Have Heard Today »

Trump’s Anti-Immigrant Policies Will Hurt the American Economy

October 1, 2018 Stephen Prince, Patriotic Millionaires Vice-Chair

We all know the moral arguments for a fairer, less cruel immigration system. But while the merits of not putting immigrant children in cages should be obvious, they don’t seem to be as persuasive as they should for a certain segment of the population. To those who are unconvinced by the moral argument, I would offer up the economic argument for a better immigration system, … Continue reading Trump’s Anti-Immigrant Policies Will Hurt the American Economy »

Hollowing Out the Economy

October 26, 2017 Robert Goldschmidt, Patriotic Millionaire

Make no mistake, the trillion-dollar tax cuts for the wealthy proposed by Trump and his friends in Congress will create deficit dollars. Sooner of later those deficit dollars will be repaid by cutting “entitlements”, i.e. taking from working families and the poor.

My Tax Philosophy

October 3, 2017 Morris Pearl, Patriotic Millionaires Chairperson

When we discuss economics there are, very broadly, two types of people: First, there are regular people. They mostly need to work, and a lot of them try to save enough so that they can retire someday. Some of them succeed, but increasingly, many do not. Being a regular person means spending most of your income. Some live very well, and some live very poorly. … Continue reading My Tax Philosophy »

Patriotic Millionaires Chair Takes Down AIC on the Carried Interest Loophole

August 22, 2017 Staff

Yesterday evening, Monday August 21, Treasury Secretary Steve Mnuchin made a statement that effectively reversed Donald Trump’s campaign promise to close the carried interest loophole.

Like a Public Utility, the Government Should Serve the People

July 25, 2017 Geoff Coventry, Patriotic Millionaire

Language is powerful. We have come to believe certain things about our government because we have been fed a steady diet of metaphors that embed scary images in our minds.

There is No Debt to Have a Ceiling

July 25, 2017 Geoff Coventry, Patriotic Millionaire

Our lawmakers’ arguments over raising the debt ceiling aren’t just reckless – they’re pointless. Congress should end its outdated budget control rules.

We Pay for it Either Way

July 11, 2017 Nancy Carlston, Patriotic Millionaire

There is a reason that the United States spends 17% of our GDP on health care, when other developed nations spend dramatically less. It’s not because we have a higher quality of care.

In the Name of Equality, Close the Loophole

May 31, 2017 Chuck Collins, Patriotic Millionaire

I’m an investor, researcher, and the great-grandson of the meatpacker Oscar Mayer. I’m deeply concerned by the extreme inequalities of income, wealth and opportunity that have opened up in U.S. society.

Success! Bill to Close Carried Interest Loophole Passes IL Senate

May 25, 2017 Staff

Tuesday the Illinois State Senate took a bold step in fighting inequality by becoming the first state chamber in the country to vote in favor of closing the carried interest loophole.

Raising the Minimum Wage is Good for Cities

May 18, 2017 Sasha Grodsky, Communications Associate

Last week the Wall Street Journal Published an opinion piece by Michael Saltsman decrying San Francisco’s minimum wage hike.

The Case for the Corporate Tax Rate

May 11, 2017 Bennet Yee, Patriotic Millionaire

It is absurd to think that corporations, particularly large, multi-national corporations who pay millions in stockholder dividends and corporate bonuses, should pay a lower tax rate than most working Americans.

We Can’t Afford to Return to Regressive Taxation

May 10, 2017 Alan Davis, Patriotic Millionaires

I am outraged. “45” spent his entire campaign claiming that he would stand up for everyday Americans, and yet his recent tax proposals are nothing more than thinly disguised handouts for the wealthy. Not the wealthy…the super wealthy!

The American Wage Problem

May 8, 2017 Terry Meehan, Patriotic Millionaire

We have a wage problem in the United States. Our current system is not working. It is harming our economy and money is not going to those who need it most but to the wealthiest.

Trump’s Trickle-Down Tax Plan: A Territorial Tax System

May 2, 2017 Morris Pearl, Patriotic Millionaires Chairperson

The Trump administration proposal — to switch to a territorial system — would mean many large international corporations paying a lot less in taxes to the United States government.

Pearls of Wisdom: Political Access Shouldn’t be for Sale

April 11, 2017 Morris Pearl, Patriotic Millionaires Chairperson

In a recent Bloomberg article Representative Mike Kelly (R-PA) was quoted saying that he and his colleagues “need to hear from people who are in that business” to get a clearer picture of how to tax carried interest.

What Comes Next is More Important

April 4, 2017 Dale Walker, Patriotic Millionaire

Will the voters stubbornly cling to their champion, who will undoubted tweet a litany of excuses and fictitious obstacles, others to blame?

Pearls of Wisdom: There Ought to be a Law Against Insider Trading

April 3, 2017 Morris Pearl, Patriotic Millionaires Chairperson

Trading on inside information should be illegal. In a post-Martha Stewart world, talk about insider trading has fallen by the wayside. We hear from time to time that the government is prosecuting people for insider trading, but not much more beyond that.

Fred’s Focus: A $17 Billion Question

February 8, 2017 Fred Rotondaro, Patriotic Millionaire

I have a question for my old friends in the coal-mining towns of northeastern Pennsylvania.

Patriotic Millionaires to Trump: Leave Dodd-Frank Alone

February 7, 2017 Staff

Last Friday President Trump signed an executive order that laid the groundwork for repealing Dodd-Frank, the financial regulation legislation put in place in the aftermath of the 2008 financial crisis intended to keep an economic disaster of such magnitude from happening ever again.