Members of the Patriotic Millionaires say the income gap in the US has become a disaster – and it’s time to ‘take that money back’
he sound system played Pink Floyd’s Money as the Patriotic Millionaires assembled in the boutique Eaton hotel in Washington DC last week. After compulsory Covid tests there was a lot of well-heeled hugging and laughter among a crowd that looked like extras from Succession as they sat down at tables stacked with M&Ms stamped with “tax the rich”.had assembled together in person.
Even the conversation seemed ridiculous under Donald Trump, Pearl added. “We have seen a huge change. You have a president talking about taxing the rich, people are talking about wealth taxes – those weren’t even fringe ideas 10 years ago. I’m not saying it’s going to happen and pass into law but there are conversations at the highest levels.”
Part of the reason why those conversations are happening is that the situation has got so bad. Speaker after speaker at the one-day conference highlighted how the very, very rich have hijacked the political system around the world, run down wages and exacerbated income inequality, ramming home the title of the conference: Oligarchs vs All of Us: The Fight for Power & Money., a British trader turned inequality economist, believes things are only going to get worse.
When the pandemic struck there was talk of it being a great leveler – we were all in this together. In fact, Covid-19 exacerbated economic and racial inequalities. US billionaires received
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