Archiv: Patriotic Millionaires (organization)


15.07.2023 - 08:20 [ Patriotic Millionaires ]

It’s the inequality, stupid

(June 15, 2023)

Economic inequality has exploded in the US since Bill Clinton took office. (It started to tick up after Clinton’s predecessor Ronald Reagan came on the scene, but Clinton’s tenure witnessed a continuation of this trend.) Today, there are 735 billionaires in the US, three of whom – Elon Musk, Larry Ellison, and Jeff Bezos – hold wealth more than 1 million times (!) the median American household wealth. Meanwhile, nearly 60% of Americans live paycheck to paycheck, 1/3 of workers make less than $15 an hour, and roughly 38 million Americans live below the poverty line.

15.07.2023 - 08:08 [ Wired.com ]

Millionaires Are Begging Governments to Tax Them More

(Jun 23, 2023)

On both sides of the Atlantic, the Patriotic Millionaires are notable for being unusually public and unusually frank—US chair Morris Pearl, a former MD at investment firm BlackRock, has described how the Covid-19 pandemic made him personally wealthier, and how he doesn’t check his bank balance because he doesn’t need to. (…)

The richest 1 percent of Brits hold more wealth than the poorest 70 percent combined. “I see it as a problem if you’ve got so much money that you no longer need a functioning society,” she says.