Tag Archives: Patriotic Millionaires

Because Congress ‘Won’t Act,’ Lawmakers in Seven States Team Up to Introduce Wealth Tax Bills

“States are stepping up to make billionaires pay their fair share, and it’s time for Congress to take action too,” said U.S. Sen. Elizabeth Warren.

By Jake Johnson.  Published 1-18-2023 by Common Dreams

Photo: Fibonacci Blue/flickr/CC

Frustrated with federal inaction in the face of soaring inequality, Democratic lawmakers in seven states across the U.S. are teaming up this week to simultaneously introduce wealth tax bills targeting the fortunes of billionaires and other rich individuals who have seen their net worth explode in recent years.

Officially launching on Thursday, the first-of-its-kind effort is led by state lawmakers in California, Connecticut, Illinois, Hawaii, Maryland, New York, and Washington—collectively home to around 60% of the country’s wealth. Continue reading

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Sinema Received Over $500K From Private Equity Before Shielding Industry From Tax Hikes

“Remember the days when taking half a million bucks from an industry, and then passing legislation that only benefits that industry, while passing the costs onto everyone else, would be called corruption?” asked one critic. “Today it’s just lobbying as usual.”

By Kenny Stancil  Published 8-8-2022 by Common Dreams

A mobile billboard criticizing Sen. Kyrsten Sinema (D-Ariz.) is seen in Washington, D.C. on August 7, 2022. (Photo: Patriotic Millionaires)

Senate Democrats passed a pared-backed reconciliation package on Sunday, but only after a pair of widely supported provisions that would have made it harder for Wall Street tycoons to reduce their tax bills were removed at the behest of Sen. Kyrsten Sinema—the right-wing Arizona Democrat who has taken more than $500,000 in campaign contributions from private equity executives during the current election cycle.

“Remember the days when taking half a million bucks from an industry, and then passing legislation that only benefits that industry, while passing the costs onto everyone else, would be called corruption?” Brown University political economist Mark Blyth asked on social media. “Today it’s just lobbying as usual.” Continue reading

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On 13th Anniversary of Last Minimum Wage Hike, Dems Urged to Raise ‘Deplorable’ $7.25 Floor

“They must immediately raise the federal minimum wage to at least $15 an hour. Our country cannot afford to reach a 14th anniversary of $7.25.”

By Jake Johnson  Published 7-24-2022 by Common Dreams

NYC Rally and March to raise the minimum wage on 4-15-2015. Photo: The All-Nite Images/flickr/CC

Marking the 13-year anniversary of the last federal minimum wage increase in the U.S.—a meager boost from $5.15 to $7.25 in 2009—progressive campaigners on Sunday urged congressional Democrats to make another push to raise the national pay floor as inflation continues to diminish workers’ purchasing power.

“Today is a sad anniversary in the United States,” said Morris Pearl, chair of the Patriotic Millionaires, a group that advocates progressive economic policy. “For 13 years now, Congress has failed to act to raise the $7.25 hourly federal minimum wage. Lawmakers have turned their backs on America’s tens of millions of low-wage workers and revealed themselves to be beholden to the short-sighted interests of some of their ultra-rich donors.”

According to a recent analysis by the Economic Policy Institute (EPI), the real value of the federal minimum wage is currently at its lowest point in nearly seven decades amid record-high inflation, which spurred a decrease in real average hourly earnings between June 2021 and June 2022 as corporate profits soared.

“Last July marked the longest period without a minimum wage increase since Congress established the federal minimum wage in 1938,” EPI noted, “and continued inaction on the federal minimum wage over the past year has only further eroded the minimum wage’s value.”

In 2021, Senate Democrats stripped a proposed $15 federal minimum wage from their coronavirus relief package on the advice of the chamber’s parliamentarian, an unelected official tasked with offering non-binding opinions on whether legislation complies with Senate rules.

Eight Senate Democrats joined Republicans in voting down Sen. Bernie Sanders’ (I-Vt.) last-ditch attempt to reinclude the provision, which was approved by the House.

Amid more than a decade of federal inaction, states and localities across the U.S. have raised their hourly wage floors in response to pressure from the grassroots Fight for $15 movement.

But $7.25 an hour remains the prevailing minimum wage in 20 states. The tipped subminimum wage is still $3 an hour or lower in 22 states.

Had the federal minimum wage risen at the same rate as Wall Street bonuses, it would now be $61.75 an hour instead of $7.25. If the minimum wage had kept pace with worker productivity since 1968, it would have been around $23 an hour last year.

“Regressive politicians across this country have kept our wages down for years,” Fight for $15 wrote in a Twitter post. “That’s why it’s important that we get at least $15/hour federal minimum wage. That way no one gets left behind.”

Morris of the Patriotic Millionaires said Sunday that “$7.25 was already inadequate back in 2009 when the minimum wage was last raised, but now it is downright deplorable.”

“Since 2009, workers have endured the Great Recession, a worldwide pandemic, historic inflation, and massive changes in the cost of living,” Pearl added. “And what have they gotten in return? A minimum wage that is worth 27% less than its 2009 value, one that now isn’t enough to afford even a single-bedroom apartment in 93% of the country.”

“In the face of rapidly rising costs for American families, Congress must act to raise wages for the tens of millions of workers who are struggling just to get by. They must immediately raise the federal minimum wage to at least $15 an hour. Our country cannot afford to reach a 14th anniversary of $7.25.”

And if congressional Democrats can’t muster “the political will” to raise the federal minimum wage to at least $15 an hour—a move that would boost the incomes of more than 30 million people across the country—”then the president must act,” said Pearl.

“When President Biden came into office, he raised the minimum wage for employees of federal contractors to $15,” he pointed out. “Given the rising cost of living, he should now raise the minimum wage for federal contractors even higher, to no less than $20 an hour. This move will benefit hundreds of thousands of workers, prove to voters that Democrats care about working people, and provide a strong example to spur Congressional Democrats to action.”

“The president,” Pearl added, “is supposed to be the leader of our country—it’s time for Biden to lead on this critical issue.”

This work is licensed under Creative Commons (CC BY-NC-ND 3.0).
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‘Shameful’: GOP Colluding With Autocratic Orban Government to Tank Global Tax Deal

One watchdog group slammed Republicans for “choosing to sabotage the United States’ ability to tax corporations effectively and conspire with foreign governments.”

By Jake Johnson  Published 7-6-2022 by Common Dreams

Official visit to the OECD of Viktor Orbán, Prime Minister of Hungary. on April 7, 2018. Photo: OECD/flickr/CC

News that GOP members of Congress are coordinating with the far-right Hungarian government in an attempt to block a proposed global minimum tax on multinational companies is drawing outrage from watchdog groups and Democratic lawmakers, with one U.S. senator accusing Republicans of doing “anything it takes to help their dark money corporate backers dodge taxes.”

Just ahead of the July 4 holiday weekend, the Washington Post reported that “senior Hungarian officials say they are working with Republican lawmakers in the United States to defeat a global minimum tax backed by the Biden administration, as European and American leaders struggle to enact a groundbreaking international accord targeting multinational corporations.” Continue reading

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‘Tax the Rich,’ Say Millionaire Activists Protesting at Davos Amid Record Wealth, Inequality

“As someone who has enjoyed the benefits of wealth my whole life I know how skewed our economy is and I cannot continue to sit back and wait for someone, somewhere, to do something,” said one demonstrator.

By Brett Wilkins  Published 5-22-2022 by Common Dreams

Activists Marlene Engelhorn and Phil White demand that the rich get taxed at a May 22, 2022 protest outside the World Economic Forum conference in Davos, Switzerland. (Photo: Patriotic Millionaires U.K./Twitter)

As some of the world’s wealthiest and most powerful people—sans the usual Russian oligarchs—descend upon the swank Swiss ski resort of Davos for the start of the World Economic Forum’s annual meeting on Sunday, a multinational coalition of millionaires of conscience took direct action to demand that governments #TaxTheRich.

Activists from Patriotic Millionaires, Patriotic Millionaires U.K., taxmenow, and the 99% Initiative, who protested outside the elite compound, had a message for conference delegates: “Extreme wealth is eroding democracy,” and taxing the rich will “reduce inequality and help deal with the cost of living scandal playing out in multiple nations around the world.” Continue reading

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‘Knives Out on SCOTUS’: Patriotic Millionaires Open Letter Pushes Senate Dems to Fight ‘Nakedly Illegitimate’ Nomination Attempt

Citing Trump’s signals that he may try to remain in office regardless of the election results, the group tells lawmakers, “to be clear, you no longer have the option to stand idly by and wait for things to ‘play out.'”

By Jessica Corbett, staff writer for Common Dreams. Published 9-25-2020

Judge Amy Coney Barrett during her Circuit Court confirmation hearing. Screenshot: C-SPAN

Ahead of reporting Friday that President Donald Trump has selected Judge Amy Coney Barrett to replace the late Justice Ruth Bader Ginsburg, Patriotic Millionaires launched a “Knives Out on SCOTUS” campaign pressuring Senate Democrats to fight back against “morally-bankrupt Republican hypocrites” in the chamber who are trying to “hand a far-right ideologue a lifetime appointment on the Supreme Court just days before the most divisive and consequential election in American history.”

The group’s open letter, which Americans are urged to sign, comes after a week of mobilizing in response to Trump and Senate Majority Leader Mitch McConell (R-Ky.) vowing after Ginsburg’s death that they were committed to nominating and voting on her replacement before November 3. The letter demands that Senate Minority Leader Chuck Schumer (D-N.Y.) and members of the Democratic Caucus “use every possible procedural tool” at their disposal “to disrupt and delay this public fraud.” Continue reading

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Fresh Calls to #RaiseTheWage After Study Shows $1 Increase Could Prevent Thousands of Suicides

The House-approved Raise the Wage Act is among hundreds of bills sitting on the desk of Republican Senate Majority Leader Mitch McConnell, the self-declared “grim reaper” of progressive legislation.

By Jessica Corbett, staff writer for Common Dreams. Published 1-9-2020

A study published this week found that raising the minimum wage just $1 could prevent thousands of suicide deaths in the United States. Photo: Wisconsin Jobs Now/flickr/CC

A new study that suggests raising the minimum wage could prevent thousands of suicide deaths in the United States sparked fresh calls for relief from federal lawmakers and cast a spotlight on Republican Senate Majority Leader Mitch McConnell’s legislative graveyard.

“Low-wage employees are in desperate need of a raise, and the Senate’s refusal to pass the #RaiseTheWage Act is keeping vulnerable Americans in harm’s way,” the advocacy group Patriotic Millionaires tweeted on Thursday, linking to NPR‘s report on the study. Continue reading

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‘No-Brainer for Anyone Who Actually Cares About American Democracy’: House Democrats’ HR 1 Praised as Real Plan to Drain the Swamp

“It’s time to unrig our broken political system. Our political leaders have been most responsive to the interests of their wealthy donors for too long while the needs of normal Americans go unaddressed.”

By Jake Johnson, staff writer for Common Dreams. Published 1-4-2018

Unlike President Donald Trump’s campaign trail vow to “drain the swamp” that never came to fruition—in fact, he has somehow managed to make Washington even swampier—House Democrats on Friday officially introduced sweeping legislation that progressives celebrated as a plan to actually confront the deep-seated corruption that has long pervaded the American political system.

Formally titled the For the People Act—or H.R. 1—and sponsored by Rep. John Sarbanes (D-Md.), the far-reaching bill would promote public financing of elections, reduce the influence of corporate dark money, strengthen ethics and financial disclosure rules, and bolster voting rights, which are under severe attack from the Republican Party, the Trump White House, and the right-wing Supreme Court. Continue reading

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With Nation Transfixed By Kavanaugh Monstrosity, House GOP Votes to Give Rich Another $3 Trillion in Tax Cuts

“This is yet another shameful tax law that would swindle working families and siphon even more funding from the programs that help our communities thrive.”

By Jake Johnson, staff writer for Common Dreams. Published 9-28-2018

“In less than a year, House Republicans have handed out trillions of tax cuts for the wealthy and big corporations,” added Rep. Richard Neal (D-Mass.), ranking member of the House Ways and Means Committee. (Photo: Tax March)

With the nation’s attention rightly transfixed by the Senate GOP’s monstrous efforts to ram through a Supreme Court nominee who has been credibly accused by multiple women of sexual assault, House Republicans on Friday voted overwhelmingly to approve another $3 trillion in tax cuts for the wealthiest Americans just weeks before the November midterms.

“Today the GOP doubled down on last year’s giveaway to the donor class known as the Tax Cuts and Jobs Act,” Morris Pearl, chair of the Patriotic Millionaires, said in a statement following the 220-191 vote. “Tax Cuts 2.0 gives nearly $3 trillion to the wealthiest Americans, and will become yet another excuse for Republicans to slash Medicare and Social Security.”

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With Most Benefits Going to Rich, ‘Reckless and Stupid’ GOP Tax Scam 2.0 Could Cost $3 Trillion Over Ten Years

“Think how many kids we could put through college, roads we could pave, families that could get child care, seniors that could get help with prescription drugs with that much money. Shame!”

By Jake Johnson, staff writer for Common Dreams. Published 9-11-2018

Tax reform press briefing October 31, 2017. Screenshot: YouTube

In their latest “reckless and stupid” bid to deliver massive rewards to ultra-wealthy Americans, House Republicans on Monday introduced three pieces of legislation that make up the GOP’s so-called “Tax Reform 2.0” package.

But with less than two months to go before crucial midterm elections, early estimates indicate the GOP’s proposals would blow a nearly $3 trillion hole in the federal budget over ten years while sending the vast majority of the benefits to the top. Continue reading

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