Tag Archives: Tax the Rich

What You Need to Know About Kamala Harris’ Record on Taxes

The past month will go down as one of the most dramatic four-week periods in American history. This past Sunday, after several weeks of speculation, President Biden announced that he would step out of the 2024 presidential race. Shortly after the news broke, our Chair, Morris Pearl, released a statement on behalf of our organization, lauding Biden for his “unrivaled act of selfless patriotism.” You can read … Continue reading What You Need to Know About Kamala Harris’ Record on Taxes »

The Economist is Wrong About Unrealized Capital Gains 

I have been a subscriber to and reader of The Economist for almost 20 years. I have appreciated their balanced and intelligent coverage of world events, with a perspective of classical economic liberalism (free markets, free trade, deregulation, and globalism). Yet I find myself in the unusual position of taking issue with two of their recent articles: “How to tax billionaires – and how not … Continue reading The Economist is Wrong About Unrealized Capital Gains  »

Project 2025 Will Be a Tax Nightmare

Republicans have done a lot of damage to the American tax code over the years by giving massive and harmful cuts to the wealthy and corporations. But if they win back the White House and get the chance to implement Project 2025, that damage will be supercharged to another level. We told you about Project 2025 on July 4th, and it’s since received a great deal … Continue reading Project 2025 Will Be a Tax Nightmare »

Corporate Tax Cuts Help No One But The Wealthy

We’ve known for a while that next to none of the spoils from the 2017 Trump tax bill’s infamous corporate tax cut trickled down to workers. But now, thanks to recent reporting from some of our allies, we’re more certain than ever that the cut’s benefits instead gushed up to wealthy shareholders like many of us. One of the major provisions of the 2017 Tax … Continue reading Corporate Tax Cuts Help No One But The Wealthy »

Happy 4th of July!

Happy 4th of July! We hope that you and those close to you can spend time today celebrating America’s 248th birthday and everything that makes our country so special. We here at the Patriotic Millionaires like to use Independence Day to remind ourselves what patriotism means and why we go about calling ourselves “patriotic” in the first place. And judging by recent events at the Supreme Court, … Continue reading Happy 4th of July! »

We Need A Coordinated Minimum Tax on Billionaires

We’ve known for a while now that our desire for lawmakers around the world to raise taxes on wealthy people like us isn’t fringe. But now, we officially have the numbers to back it up – and a blueprint for how international leaders can institute minimum standards for taxing the global rich. The last time we discussed our international work was back in April. A lot has … Continue reading We Need A Coordinated Minimum Tax on 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 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 »