Not every millionaire is a greedy person. In fact, a few have formed an organization designed to deal directly with wealth and income inequality. Here is part of their latest report:
Friends,
We wanted to share with you some of the work our Patriotic Millionaires have been doing to fight wealth inequality, in hopes that you would share our efforts with your friends and family.
Patriotic Millionaires board member Chuck Collins and Josh Hoxie of the Institute for Policy Studies released a report today titled Billionaire Bonanza: The Forbes 400 and the Rest of Us. The report outlines the absurd level of wealth inequality in America and offers various policy prescriptions to help heal the deep divide.
Key findings of the report include:
* America’s 20 wealthiest people now own more wealth than the bottom half of the American population combined, a total of 152 million people in 57 million households.
* The wealthiest 100 households now own about as much wealth as the entire African American population in the United States. Among the Forbes 400, just 2 individuals are African-American.
* The wealthiest 186 members of the Forbes 400 own as much wealth as the entire Latino population. Just 5 members of the Forbes 400 are Latino.
The policy prescriptions that Chuck lays out in his report are broad and would be far reaching if enacted. Potential solutions range from
• a progressive income tax that more closely resembles the tax code of the 1950’s,
• taxing capital gains income at the same rate as hard working Americans,
• a more aggressive estate tax to break up dynastic wealth,
• and a closure of loopholes that allow billionaires to stash their wealth offshore.
None of this will be easy, but we are working every day to create a more informed citizenry and to tell Washington, DC that millionaires who understand how to build and grow a business do not support the absurd status quo of trickle-down economics.
We are so proud of the work our members are doing. We ask you to please support our efforts to fight this egregious wealth inequality by sharing Chuck Collin's report on Facebook and Twitter by using the following links:
Share on Facebook
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Thanks for all you do,
The Patriotic Millionaires
1010 Wisconsin Ave NW Suite 705B
Washington, Dc 20007
Aren't Bill and Hillary on the low end of that totem pole?
Another good article not only outlining what is wrong, but outlining what should be done about it. It is really strange that so many of the American people are hoodwinked into believing that wealth like this is good, "because it's earned and deserved." And their propensity to fall in love with the very measures that make this happen like "flat taxes" as some kind of simplistic panacea.
And, I'm suspicious of the giveaways to charity by the wealthy like Bill Gates, Warren Buffett, and Mark Zuckerberg yesterday. By doing so they avoid taxes altogether and are able to steer their massive fortunes to their own pet charitable projects that may or may not be beneficial in the long run.
John: I suspect that you and I could go on the speaker's tour and make Hillary and Bill look like the jackasses they really are. But would anyone pay us $250,000 a pop for 30 minutes of truth? I don't think so. It's another rigged game. Just get famous and stupid, and you're in!
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Another good article not only outlining what is wrong, but outlining what should be done about it. It is really strange that so many of the American people are hoodwinked into believing that wealth like this is good, "because it's earned and deserved." And their propensity to fall in love with the very measures that make this happen like "flat taxes" as some kind of simplistic panacea.
And, I'm suspicious of the giveaways to charity by the wealthy like Bill Gates, Warren Buffett, and Mark Zuckerberg yesterday. By doing so they avoid taxes altogether and are able to steer their massive fortunes to their own pet charitable projects that may or may not be beneficial in the long run.
Ron
John