Tag Archives: Tax the Rich

Explaining The Ultra-Millionaire Tax Act

On Monday, March 1, Senator Elizabeth Warren, Rep. Pramila Jayapal, and Rep. Brendan Boyle took a stand against out-of-control wealth inequality by introducing The ‘Ultra-Millionaire Tax Act’ to Congress. So what will this tax do? It’s a virtual copy of the wealth tax that Warren ran on in her 2020 presidential campaign. A wealth tax is a yearly tax on the net worth, essentially assets … Continue reading Explaining The Ultra-Millionaire Tax Act »

Don’t Let Inflation Fears Stop COVID Relief

President Biden and his team have announced that about $1.9 trillion of additional money is needed due to the problems caused by the current pandemic.  That is about 9% of the size of the entire US economy — anyway you think about it, that is a big deal. The benefits of that are fairly well articulated by the administration, but because many on the right … Continue reading Don’t Let Inflation Fears Stop COVID Relief »

In Wealth Tax, California Looks Toward the Future

A year ago, in a time before the Coronavirus upended our economy and made taxing the rich more urgent than ever before, the idea of a wealth tax was all the rage in the 2020 Democratic presidential debates. First introduced by Senator Elizabeth Warren (D-MA), a wealth tax would go miles towards curbing our country’s inequality by laser-targeting extreme wealth held by the likes of … Continue reading In Wealth Tax, California Looks Toward the Future »

Making Money Doesn’t Make You A Patriot

Here’s a helpful tip to understanding the current debate over taxing the rich: if you ever find yourself reading an opinion piece, say like the one in this morning’s Wall Street Journal, that begins with the words, “the two of us are quite rich,” take whatever follows with a heaping grain of salt.  That may sound a bit counterintuitive coming from a group called the … Continue reading Making Money Doesn’t Make You A Patriot »