Skip to content
Andrew Tobias
Andrew Tobias

Money and Other Subjects

  • Home
  • Books
  • Videos
  • Bio
  • Archives
  • Links
  • Me-Mail
Andrew Tobias
Andrew Tobias

Money and Other Subjects

A Message From The Patriotic Millionaires

January 17, 2023January 16, 2023

I have zero problem with billionaires not paying more tax than the law requires.

My problem is with the law not requiring them to pay more.


“God never intended for one group of people to live in superfluous inordinate wealth, while others live in abject deadening poverty.” – Martin Luther King, Jr.

While many of us gather today to study and celebrate Dr. King’s life and legacy of justice, our friends at Oxfam released an explosive new report — “Survival of the Richest” — that reveals the world’s wealthiest 1% accumulated $42 trillion of new wealth since 2020. That’s trillion with a T.

While most Americans are tightening their purse strings and feeling the daily pain of record high inflation, billionaires [are] watching their riches increase and paying almost no taxes. 63% of all wealth gains since 2020 have gone to the top 1%, with just 37% going to the other 99%. Meanwhile at least 1.7 billion workers now live in countries where inflation is outpacing wages, and over 820 million people — roughly one in ten people on Earth — are going hungry.

The World Bank says we are likely seeing the biggest increase in global inequality and poverty since World War II.

It doesn’t have to be this way.

Last year, President Biden introduced the Billionaire Minimum Income Tax, which will ensure that every household worth over $100 million is paying an effective tax rate of at least 20% on their total income each year.

The BMIT would make the ultra-wealthy pay taxes on the growth in their investments every year, just like the rest of us pay taxes on our wages. It enjoys broad support from the American public with approximately three-quarters of voters — including a majority of Independents and Republicans — supporting the bill.

Excessive billionaire wealth is destabilizing our economy, our politics, and our society.

Click here to send a direct message to Congress telling them to pass the Billionaire Minimum Income Tax now.

Thank you for all you do to defend democracy and fight inequality,

—Erica

Erica Payne
Founder and President, Patriotic Millionaires


Close loopholes.

Fund IRS enforcement.

Impose an effective minimum tax on the uber-wealthy.

Have a great week.

 

Post navigation

← In The New ‘McCarthy Era,’ This Column Could Get Me Thrown In jail
Spotlight On Merrick Garland →

Quote of the Day

"Tact is the knack of making a point without making an enemy."

Isaac Newton

Subscribe

 Advice

The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit." -- The New York Times

Help

MYM Emergency?

Too Much Junk?

Tax Questions?

Ask Less

Recent Posts

  • Three Easy Don'ts + Six Sobering Minutes

    June 7, 2025
  • Three Good Ones

    June 4, 2025
  • "A Disgusting Abomination" Indeed

    June 4, 2025
  • Move To Canada? Help Design My Sign? Save The IRS?

    June 2, 2025
  • 90 Must-See Seconds

    June 1, 2025
  • "Those Who Cannot Remember The Past . . ."

    May 31, 2025
  • Heartwarming / Thought-Provoking / Silver Lining -- And Despair

    May 30, 2025
  • Destroy The FBI; Protect The High-Jump!

    May 28, 2025
  • George Orwell, Joe, And Carl

    May 28, 2025
  • Harvard - UPDATED

    May 27, 2025
Andrew Tobias Books
  • Facebook
  • Twitter
©2025 Andrew Tobias - All Rights Reserved | Website: Whirled Pixels | Author Photo: Tony Adams