Wealthy Patriots Launch Campaign to Overthrow 'Broligarchs'

Evaluating Our Economy’s Focus on the Workforce

“Our economy should be judged on how well it cares for working people, rather than the number of billionaires it produces daily,” stated the leader of an economic justice organization.

Amid warnings from economists that President Donald Trump’s trade war could increase living costs for millions of American families and potentially trigger a recession, the economic justice group Patriotic Millionaires introduced a “bold, surprisingly straightforward economic strategy” on Monday. This plan aims to curb the growing power of the oligarchy and “permanently stabilize the economic lives of working people.”

The strategy, named America 250: The Money Agenda, was presented during an “expert town hall” event called “How to Beat the Broligarchs” and comprises four critical pieces of legislation:

The Cost of Living Tax Cut Act, which exempts federal taxes up to the median living cost for a single adult without children—$41,600 annually—shifting the tax burden from the working class to the millionaire class through a surtax;

The Cost of Living Wage Act, which increases the minimum wage to $21 per hour, aligning it with the living costs for a single adult without children;

The Equal Tax Act, which synchronizes the tax rates for capital gains and incomes over $1 million and seals the “stepped-up basis loophole” that reduces the tax responsibilities of the ultra-wealthy; and

The Anti-Oligarch Act, which imposes substantial taxes on the transfer of wealth across generations, on large trust-held fortunes, and on the real economic income of the ultra-rich to prevent further wealth accumulation at the top, including through a proposed amendment to the U.S. Constitution.

According to Patriotic Millionaires, the last proposal is a “long overdue response to Supreme Court Justice Louis Brandeis’ century-old warning: ‘We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can’t have both.'”

“The severe concentration of wealth invariably leads to an extreme concentration of political power. The stakes for our nation couldn’t be higher,” the group emphasized. “Immediate action is necessary.”

During the How to Beat the Broligarchs event, experts such as economist Stephanie Kelton, Helaine Olen from the American Economic Liberties Project, and historian Rutger Bregman discussed how unchecked wealth in the U.S. has dominated the political and judicial systems—with “broligarchs” like tech CEO Elon Musk manipulating government policies to serve their interests at the expense of the American populace.

“America’s descent into oligarchy demands bold measures to reclaim democratic capitalism and pave the way for a thriving, fair, and just future,” stated Erica Payne, founder and president of Patriotic Millionaires. “America 250: The Money Agenda is the only plan that will achieve this. It will change not only our lives but also the future and trajectory of our country. Our economy should be measured by its ability to support working people, not by its ability to create billionaires overnight. By that standard, America is failing its economic test. The only way to improve our grade—and halt our nation’s slide into oligarchy—is by reforming our tax system.”

Morris Pearl, the board chair of the group, expressed that if Congress adopts the proposed legislative agenda, “we will foster a community dedicated to the common goal of enhancing the lives of all working individuals in our nation—not just the ultra-rich.”

“America 250 will hold accountable those politicians and their supporters who are perpetuating our outdated status quo and demand better leaders who will steer us towards a more sustainable path,” Pearl added. “The era of economic exploitation must end.”

Wealthy Patriots Launch Campaign to Overthrow ‘Broligarchs’

Evaluating Our Economy’s Focus on the Workforce

Similar Posts

Leave a Comment Cancel reply