This week, the International Consortium of Investigative Journalists released The Pandora Papers, a scathing exposé that details how the world’s wealthiest take advantage of international tax loopholes and tax havens to hide their wealth across the globe. While the report largely focuses on the finances of international leaders and elites, the fact that the wealthy are using loopholes to dodge their taxes is nothing new … Continue reading Tax Havens and Tax Reform
Last week conservative Democrats attempted to sabotage the President’s agenda and they were solidly defeated. Their demand that the House vote on the bipartisan infrastructure package before details of reconciliation were finished, in direct opposition to a deal agreed upon by Democrats in the House, Senate, and White House, would have sabotaged any attempts to pass the desperately needed funding and tax hikes on the … Continue reading Conservative Dems Can’t Handle the Truth
With a contentious debate in Congress regarding the reconciliation bill and its passage, it would seem that the bill and its contents (pulled straight from President Biden’s Build Back Better Agenda) are controversial among the American people as well. Instead, polls have demonstrated that the vast majority of voters support the bill and its provisions. The only group that consistently opposes the bill and actively … Continue reading Congress Should Represent All Americans- Not Just the Rich
Last night, Speaker of the House Nancy Pelosi announced to her caucus that she plans to bring the bipartisan infrastructure bill up for a vote this Thursday, separate from the budget reconciliation package. This stands in direct contrast to the agreement reached within the Democratic caucus that both bills would proceed simultaneously, and must be rejected by all Democrats who care about advancing the party’s full … Continue reading No Infrastructure without Reconciliation
Tensions are rising in Congress as we near September 27th, the date centrist Democrats are demanding a vote on their bipartisan infrastructure bill. They want to pass infrastructure first at the expense of the much larger, more impactful reconciliation bill, but progressives are promising to vote down infrastructure until the two pass at the same time. With all the fuss, you would think that the … Continue reading The American People Want to Tax the Rich
The fight between various factions within the Democratic party over the outcome of the infrastructure and budget reconciliation negotiations is coming to a head. For months the Caucus has been working on a strategy that would put both the infrastructure bill and a budget reconciliation package up for a vote at the same time, satisfying both centrists and progressives. Unfortunately, corporate interests have been out … Continue reading Progressives Must Hold Strong
Earlier this week the House Ways and Means Committee, led by Rep. Richard Neal, released their rewrite of the federal tax code as part of the Democrats’ budget reconciliation proposal. The committee’s proposed changes are, to say the least, completely inadequate. Their proposal preserves the preferential treatment the rich currently receive in the tax code, ensuring that billionaires in America will continue to pay a … Continue reading Neal’s Tax Plan Has Billionaires Popping Champagne
Today, 11 rogue Democrats are continuing their fight to block progress for the entire nation in order to ensure that the wealthiest people in the country continue to receive preferential treatment in the tax code. If the current House Ways and Means Committee proposal becomes law, billionaires in America will pay a lower tax rate than working people and inequality, the root cause of social … Continue reading Patriotic Millionaires Letter to White House Demands Further Tax Hikes on Millionaires
It’s time to get down to business. After months of leadup and preliminary negotiations, committees in the House are just days away from releasing the first official details of the Democrats’ multi-trillion-dollar reconciliation bill. There’s a lot at stake here, with trillions of dollars of support for American families and tax hikes on the rich hanging in the balance as a few centrist Democrats seek … Continue reading Reconciliation Negotiations Are Heating Up
This week The US Chamber of Commerce released a study that attempted to show that taxing carried interest as normal income would lead to massive job loss, a decrease in tax revenue, and an overall reduction in investment. But while Chamber lobbyists are sure to use this so-called “study” to try to convince lawmakers to preserve the carried interest loophole, in reality this document is … Continue reading The Lies in The Chamber of Commerce’s Carried Interest Report
As we come out of Labor Day weekend, let’s talk about labor. More specifically, let’s talk about the way the law treats labor. You’ve likely heard dozens of politicians talk endlessly about how American workers are the backbone of our country, and how the value their labor creates for their communities is what makes America great. But talk is cheap. When it comes to what … Continue reading The Value of Labor
Recently, a group of nine moderate and conservative Democrats voiced their opposition to the tactics Democrats are using to pass two bills simultaneously: a limited bi-partisan infrastructure package, and a more ambitious reconciliation package designed to pass with only Democratic votes. In a letter to Speaker Nancy Pelosi, they stated they planned to withhold their vote on the budget package if the infrastructure bill was … Continue reading America Needs Democratic Unity
We’re finally reaching the point where real economic change is on the horizon through the upcoming infrastructure and reconciliation bills. During this time it can be hard to clearly see progress with all the confusion and noise of Washington. Debates about government spending have often been dominated by concerns from conservatives and moderate politicians. Even still, we have to remember that making investments that will … Continue reading Spending versus Investments, the Great Debate
Earlier this week, after months of negotiations, a bipartisan infrastructure bill passed in the Senate. This was followed quickly by a $3.5 trillion budget that sets the stage for Democrats to pass a reconciliation bill that would make one of the largest investments in American families in the last half century. But while we’re in a moment of great opportunity, there are, as always, many … Continue reading Overcoming the Opposition
Yesterday, after weeks of deliberation, a bipartisan committee of Senators finally proposed the beginnings of an infrastructure bill. This bill failed to do one thing that Americans have been asking of their representatives; tax the rich. Simply shifting money around and pointing the blame at unemployed Americans in a global crisis is just another way of burdening regular people with paying more than their fair … Continue reading Democrats Must Tax the Rich to Pay for Roads
This month Governor Gavin Newsom signed California’s $262 billion dollar budget into law, a nearly $60 billion dollar increase from the previous fiscal year. Flush with extra cash, Governor Newsom and the legislature created one of California’s most ambitious budgets in recent years. This year’s budget will deliver a public school version of preschool along with free school lunches, expand state-funded healthcare to undocumented immigrants, … Continue reading California’s Ambitious Budget Proposals Shouldn’t be a Bargaining Chip
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
Although the framework of the bipartisan infrastructure plan has been largely agreed on by a group of both Democrats and Republicans, it was only a matter of time before the more extreme elements of the GOP tried to undermine the deal. And right on cue as the bipartisan working group is attempting to finalize the bill’s details, some conservative groups are now demanding that the … Continue reading Fix the Tax Gap, Fund the IRS
The bipartisan infrastructure deal that Senate Democrats, Republicans, and President Joe Biden agreed on last week looks like it may already be in danger. With Democratic leadership promising to link the bipartisan bill to a larger reconciliation bill that includes more progressive priorities and tax hikes on the rich, and Republicans threatening to back out if Democrats pair the two bills together, there’s a lot … Continue reading What You Need to Know About the Bipartisan Infrastructure Deal
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