Tag Archives: Tax the Rich

If Jeff Bezos Can Afford to Go to Space, He can Afford to Pay more in Taxes

Yesterday, Jeff Bezos went to space. In response, the Patriotic Millionaires released the following statement on the morning of launch day from one of our members, Stephen Prince: “Sixty years ago, we sent the first American into space, and the top income tax rate was 91%. Today, a billionaire launched himself into space after paying a true tax rate of less than 1% for years. … Continue reading If Jeff Bezos Can Afford to Go to Space, He can Afford to Pay more in Taxes »

It Is Time We Reexamine the Cost of Reaganomics

President Ronald Reagan was a popular United States President. Upon leaving office, 63 percent of Americans overwhelmingly approved of the job he had done during his 8 years in office. His post-presidency popularity was solidified with efforts led by lobbyist and anti-tax activist Grover Norquist to convince local governments and private associations to name public spaces after Regan to preserve his legacy— particularly his tax … Continue reading It Is Time We Reexamine the Cost of Reaganomics »

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 »