September, 27 2017, 12:00pm EDT
Patriotic Millionaires on "Trump's Trickle Down" Tax Plan
"It's somewhere between indefensible and obscene."
WASHINGTON
Today, the Patriotic Millionaires blasted the Trump Administration's just-released Tax Plan. The group, which includes hundreds of America's wealthiest citizens, released the following official statement:
"The Trump Tax Plan is nothing but a payoff to millionaires and multinational corporations. It is an embarrassment to history, common sense and decency that any elected official continues to perpetuate the total fraud of Trickle Down Economics. Time and again that epic lie has served as the justification for taking money that belongs to the American people and handing it over to a few thousand well-connected political donors. They pretend it is a philosophy. This is not a philosophy, this is a pay off."
The group went on to make several specific points about some of the details of the tax framework:
- On the reduction of the top rate: "Lowering the top rate for America's richest people in the face of already destabilizing inequality is irresponsible bordering on immoral."
- On the repatriation of profits: "The Administration has decided to reward companies for essentially stealing American taxpayers' money by hoarding it overseas. How is that good for the middle class?"
- On the reduction of the corporate tax rate: "Randall Stephenson, the chief executive of AT&T is wrong. The correlation between lower corporate tax rates and more jobs is not 'very, very tight,' it is nonexistent. From 2008-2015 the company paid an effective rate of 8%, they laid off 80,000 people, and Mr. Stephenson cashed in $124 million in stock options. Companies do not hire more people when you lower their tax rate, they overpay their already overpaid executives."
- On the elimination of the Estate tax: "We can't wait to hear President Trump try to explain how a $4 billion tax cut for Ivanka and Tiffany helps the middle class."
- On the elimination of the AMT: "The elimination of the Alternative Minimum Tax will virtually guarantee that thousands of Americas wealthiest people will pay no tax at all. How will be left holding the bill for that lost revenue? The middle class."
- On the territorial tax system: "President Trump's big plan to boost the middle class starts by helping multinational corporations avoid paying any taxes at all? That is absurd."
- On reducing the number of tax brackets: "If anything, we need more tax brackets. Someone making $5 million, $10 million, or $50 million a year should definitely pay higher taxes than someone making $400,000 a year. How can we even debate this?"
The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country's political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three "first" principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.
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Biden Signs TikTok Ban—Among the 'Stupidest and Most Authoritarian' Tech Bills
One critic said that "the bill doesn't touch the homegrown spyware U.S. companies churn out" and "also strikes at the First Amendment right to receive information."
Apr 24, 2024
Digital rights defenders on Wednesday slammed the passage of a U.S. foreign aid package containing a possible nationwide TikTok ban as unconstitutional, xenophobic, and ill-advised during an election year in which President Joe Biden desperately needs as many young votes as possible.
Biden signed the $95 billion bill late Wednesday morning after senators voted 79-18 the previous evening to approve the package, which includes tens of billions of dollars in U.S. military assistance for Ukraine, Taiwan, and Israel—which is waging a genocidal war against Palestinians in Gaza.
One of the bill's provisions would force ByteDance, TikTok's Chinese parent company, to sell the app to a non-Chinese company within a year or face a federal ban. Approximately 170 million Americans use TikTok, which is especially popular among members of Gen-Z and small-to-medium-sized businesses, and contributes tens of billions of dollars to the U.S. economy annually.
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Jenna Leventoff, senior policy counsel at the ACLU, called the provision "nothing more than an unconstitutional ban in disguise."
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Jameel Jaffer, executive director of the Knight First Amendment Institute at Columbia University, said:
The First Amendment means that the government can't restrict Americans' access to ideas, information, or media from abroad without a very good reason for it—and no such reason exists here. Repackaging the government's reasons for the ban in the language of "national security" does not change the analysis. There's no national security exception to the First Amendment, and creating such an exception would make the First Amendment a dead letter.
Proponents of the possible ban attempted to spin it as something else and pointed to precedents including the 2020 forced sale of the popular LGBTQ+ dating app Grindr, formerly owned by a Chinese company.
"I want to be very clear: This is not a 'TikTok ban,'" Sen. John Fetterman (D-Pa.), who voted to approve the bill, said in a statement. "I have no interest in banning TikTok. This bill will simply make TikTok safer by separating it from the Chinese Communist Party so that the data of 170 million Americans—many of whom are children—is protected."
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"Banning TikTok without passing real tech regulation will just further entrench monopolies like Meta and Google, without doing anything to protect Americans from data harvesting or government propaganda."
However, Kate Ruane, who directs the Center for Democracy & Technology's Free Expression Project, asserted that "Congress shouldn't be in the business of banning platforms. They should be working to enact comprehensive privacy legislation that protects our private data no matter where we choose to engage online."
Greer said that "not only is this bill laughably unconstitutional and a blatant assault on free expression and human rights, it's also a perfect way to derail momentum toward more meaningful policies like privacy and antitrust legislation that would actually address the harms of Big Tech and surveillance capitalism."
Greer continued:
Banning TikTok without passing real tech regulation will just further entrench monopolies like Meta and Google, without doing anything to protect Americans from data harvesting or government propaganda.
We could be months away from another Trump administration, and top Democrats are busy expanding mass surveillance authority and setting the precedent that the government can ban an entire social media app based on vague 'national security' concerns that haven't been explained to the public.
Some critics questioned the wisdom of Biden signing off on a potential ban of the most popular social media app among many young users during an election year in which many younger voters are disappointed in the president's record on climate, student debt relief, the Gaza genocide, and more.
One user of X, the social platform formerly known as Twitter, said earlier this year that signing the bill would demonstrate a "comical level of political malpractice, the equivalent of seeing the rake on the ground and purposefully stepping on it."
Moments after Biden signed the bill, TikTok CEO Shou Zi Chew
vowed, "We aren't going anywhere."
"The facts and the Constitution are on our side and we expect to prevail again," he said, referring to the three times when federal judges blocked efforts to ban TikTok.
TikTok CEO Shou Chew responds to the bill that could ban the app: “Make no mistake, this is a ban, a ban of TikTok and a ban on you and your voice.”
“Rest assured, we aren’t going anywhere.”
pic.twitter.com/qElI8JvY0D
— philip lewis (@Phil_Lewis_) April 24, 2024
In the most recent case, U.S. District Court Judge Donald Molloy ruled last December that a Montana law that would have banned the app "violates the Constitution in more ways than one" and had a "pervasive undertone of anti-Chinese sentiment."
It is unclear who would buy TikTok. Analysts estimate the platform is worth upward of $100 billion, placing it out of reach for all but the biggest U.S. tech titans and, ironically, setting up possible antitrust challenges from the very administration that ultimately forced the sale.
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The organization expressed particular alarm over Israel's war on Gaza and the inability or unwillingness of its allies to rein in the government of Prime Minister Benjamin Netanyahu from bombing civilian populations, displacing more than 1.9 million people, and restricting the flow of aid into the besieged Gaza Strip. This and other conflicts, such as Russia's invasion of Ukraine, had led to a "near breakdown of international law," Amnesty said.
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Amnesty wrote that Israel had made a "mockery" of some of the key tenants of international humanitarian law such as proportionality and distinction by targeting civilization populations and infrastructure such as refugee camps, hospitals, bakeries, and United Nations schools. As of the end of 2023, Israel had killed 21,600 Palestinians, a third of them children. At present, the death toll has surpassed 34,200, though that is likely an undercount as many remain buried beneath rubble.
Amnesty International researcher Budour Hassan toldDeutsche Welle that it was "utterly disappointing" that "one country, one government is allowed to annihilate international law, to put its middle finger in the eye of international law, and go on as if nothing has happened, normalizing the abnormal, normalizing the atrocities that have been happening, so that the crime that was an atrocity two days ago would become normal."
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In particular, Amnesty criticized the U.S. for spending months vetoing U.N. Security Council resolutions calling for a cease-fire, as well as European Union countries like Germany and the U.K. that called out their opponents' human rights abuses but continued to back Israel.
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In addition to state actors, Amnesty International sounded the alarm about the growing power of large technology companies, and, in particular, the rollout of artificial intelligence. The human rights group said that both new and existing technologies were making it easier for governments to target vulnerable groups like women, minorities, and members of the LGBTQ community. For example, the New York City Police Department informed Amnesty that it used facial recognition technology to keep tabs on Black Lives Matter activists, while Israel used it in the West Bank to help control Palestinian movement. The organization warned of how under-regulated technologies could exacerbate the scapegoating of marginalized groups as many countries hold elections in 2024.
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The Chamber, the largest corporate lobbying organization in the United States, signaled its intent to sue the FTC immediately after the agency finalized its new rule on Tuesday.
"The Federal Trade Commission's decision to ban employer noncompete agreements across the economy is not only unlawful but also a blatant power grab that will undermine American businesses’ ability to remain competitive," Chamber president and CEO Suzanne Clark said in a statement following the FTC's vote.
While the organization claims to fight for the interests of businesses small and large, a Public Citizen report published earlier this year found that the majority of the Chamber's legal work supports big corporations.
The Chamber acknowledged in response to questioning from a pair of Democratic senators last year that its corporate members use noncompete clauses—though the group did not specify which members.
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