President Joe Biden and Democratic lawmakers are looking at proposals to raise taxes but have got almost no support from the partisan Republicans who are unwilling to overturn the tax cuts provided in 2017 by the then administration in power under Trump. However, a few progressive millionaires, have come in support of raising taxes; to improve a crumbling infrastructure and a slowdown in the economy due to the pandemic. Some corporates and individuals including Jeff Bezos the CEO of Amazon who saw his personal and corporate earnings soaring to unimaginable heights, while paying minimal or zero taxes due to the several breaks that corporate and rich Americans receive as per the current laws.
Patriotic Millionaires organized an effort to bring awareness and name and shame some of these high net worth individuals who laugh all the way to the bank while seeing their enormous fortunes multiply. On the other hand the common man or woman in America struggles and the revenues are shared by the ultra rich. The patriotic millionaires are launching their efforts on Monday, Tax Day. This was first reported by CNBC.
The efforts by the group include a mobile billboard that reads “Cut the bull – – – -. Tax the rich.” It will make a stop at the following venues:
- Bezos’ homes in New York and Washington
- Senate Minority Leader Mitch McConnell’s home in Washington
- Senate Majority Leader Chuck Schumer’s offices in NYC
- Chamber of Commerce
- Business Roundtable
- Heritage Foundation
- Democratic National Committee
- Americans for Tax Reform
- The IRS
- Former President Donald Trump’s Old Post Office hotel
Other billboards are also planned and one of them says “tax the rich. Save America. Yes it really is that simple.” Another one has the laughing faces of Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg and Tesla’s Elon Musk and says, “tax me if you can.”
Morris Pearl is the chairman of the Patriotic Millionaires group and Abigail and Tim Disney, children of late Disney executive, Roy Disney are two of its members. The group favors Sen. Elizabeth Warren’s tax plan for ultra millionaires which puts a 2 percent annual tax on those who have wealth over $50 million and 3 percent who wealth exceeds a billion dollars. The group members have annual incomes over one million dollars or assets over 5 million dollars.