Tag Archives: Tax the Rich

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 Cold Hard Facts about the TCJA

If you’re a regular reader of our newsletter, you know how often we talk about the Tax Cuts and Jobs Act (TCJA), which is former President Trump and Republicans’ signature tax bill from December 2017. And if you know how much we talk about the TCJA, you know how often and how loudly we say the package delivered a massive windfall to the ultra-wealthy and corporations. We … Continue reading The Cold Hard Facts about the TCJA »

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! »

What Patriotism Means on Tax Day

Here we are again: Tax Day. Every year, millions of Americans gather their W-2s and 1099s, compile their receipts, their mortgage interest 1098s, and a dizzying array of other tax forms. Then, the vast majority fire up tax filing software from the likes of Intuit or H&R Block. Taxpayers in a few states may take advantage of the IRS’s new Direct File pilot program. Others will … Continue reading What Patriotism Means on Tax Day »

That’s a Wrap: Patriotic Millionaires’ 5th Annual Spring Symposium

We are happy to report that the Patriotic Millionaires’ fifth annual Spring Symposium, “How to Fix Everything,” was a smashing success! Over the course of three days this week, we engaged with activists, policy experts, and lawmakers about the critical need to raise taxes on the rich, raise the wage floor, and strengthen American democracy. Now that it’s over, we’d like to share some of … Continue reading That’s a Wrap: Patriotic Millionaires’ 5th Annual Spring Symposium »

How to Fix Everything

Next week, members of the Patriotic Millionaires will gather in Washington, DC for our fifth annual symposium, “How to Fix Everything.” The three-day event has become the highlight of the Patriotic Millionaires’ annual calendar. Our members gather together for strategy sessions with academics, activists, and lawmakers to discuss how to transform the economy and make it work for every American, and not just a wealthy … Continue reading How to Fix Everything »

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 »

Breadcrumbs for the Poor and Bread Baskets for Corporations

The new bipartisan tax deal is just the first of many battles that will ensue over the next year with the expiration of a number of the 2017 Trump tax cuts. Unfortunately, Democrats just can’t seem to help themselves. Instead of standing up and demanding what America really needs – a smart tax code that incentivizes the society they want – they have once again gone … Continue reading Breadcrumbs for the Poor and Bread Baskets for Corporations »

Congress is Trading Horses. Kids are Losing Out.

Republicans and Democrats have been engaging in some horse trading on tax policy lately, but the deal, in its current form, provides corporations – already flush with cash – a massive tax break while working families will see only a modest extension of the Child Tax Credit. Two weeks ago, Senate Finance Committee Chairman Ron Wyden (D-OR) and House Ways and Means Committee Chairman Jason … Continue reading Congress is Trading Horses. Kids are Losing Out. »

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 »

Giving Thanks and the Fights Ahead

Like many of you, the Patriotic Millionaires will be sitting down with our friends and family in the days ahead to give thanks for the blessings of the previous year, celebrate our achievements, and commiserate with our communities. By most objective measures, there is much to which we can toast: from the recent successes of organized labor to declining inflation and a strong job market, … Continue reading Giving Thanks and the Fights Ahead »

Morris Pearl Testifies Before Congress: “Tax me!”

The Patriotic Millionaires are always up to exciting things, but today was exceptional: our Chair, Morris Pearl, testified in person before the Senate Committee on Finance at their hearing, “Examining How the Tax Code Affects High-Income Individuals and Tax Planning Strategies.” The hearing focused on the ways in which the tax code treats wealthy Americans like Morris and our members, with a particular focus on … Continue reading Morris Pearl Testifies Before Congress: “Tax me!” »

Je suis riche, taxez-moi!

The Patriotic Millionaires have a very simple message for the world: “Je suis riche, taxez-moi!” Our organization was recently profiled in a feature-length piece in Le Monde, the most circulated newspaper in France and one of the top newspapers in all of Europe. This is a pretty big deal, and will undoubtedly attract more public interest in our mission across the world. Our Chair, Morris Pearl, and Vice-Chair, Stephen … Continue reading Je suis riche, taxez-moi! »

Dear G20 Leaders: Tax Extreme Wealth!

This weekend, heads of state of G20 member countries will travel to New Delhi, India for the 18th annual G20 summit. Attendees will discuss the most pressing issues related to the global economy, and the meeting will culminate in the adoption of a new G20 Leaders’ Declaration. Ahead of the summit, the Patriotic Millionaires led the charge with several of our allies – Oxfam, Millionaires for … Continue reading Dear G20 Leaders: Tax Extreme Wealth! »

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 »