Fw: [TAKE ACTION]: Tell your Representative to co-sponsor the OLIGARCH Act.

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Apr 6, 2024, 9:28:22 PMApr 6
to Fixing The Global Economy Through World Federalism
Look at a movement in the USA. 

Its unlikely to work without a global agreement that all nations do the same. Otherwise wealth will just move offshore and hide elsewhere. Bring on the World Federation!!!

John Cowan

------ Forwarded Message ------
From "Rose Dyson" <rose....@alumni.utoronto.ca>
To "John" <john.c...@gmail.com>; "Peter Venton" <Peter....@bell.net>; "Erica Wilson" <co...@wfmcanada.org>; "Norbert D'Costa" <norbert...@gmail.com>; "anne venton" <a.e.v...@gmail.com>
Date 2024-04-05 6:35:13 PM
Subject Fwd: [TAKE ACTION]: Tell your Representative to co-sponsor the OLIGARCH Act.

Sent from my iPhone

Begin forwarded message:

From: "Erica Payne, Patriotic Millionaires" <in...@patrioticmillionaires.org>
Date: April 5, 2024 at 5:47:22 PM EDT
To: Rose Dyson <rose....@alumni.utoronto.ca>
Subject: [TAKE ACTION]: Tell your Representative to co-sponsor the OLIGARCH Act.
Reply-To: in...@patrioticmillionaires.org

 As billionaire wealth skyrockets, their involvement in our political system puts us at risk of authoritarianism.
Patriotic Millionaires

Rose ,

There is a point when extreme wealth is, by definition, extreme power. We have reached that point. Concentrated wealth is suffocating our democracy, threatening our economic system, and undermining our social cohesion. A government that works only for billionaires while ordinary Americans suffer cannot withstand authoritarian forces and extremists.

The recent publication of the Forbes World’s Billionaires List for 2024 reveals just how acute the problem of extreme wealth has become. According to the report, there are now more billionaires than ever before, with most coming from the U.S. which has 813 billionaires with a combined worth of $5.7 trillion.1

Many working people are still trying to recover from the economic fallout of the COVID pandemic and record-high levels of inflation. Meanwhile, the top 1% in the US hit a new record with a combined $44.6 trillion in wealth, thanks to stock market rallies in the fourth quarter of 2023.2

We cannot allow this gross wealth inequality to continue. It is a threat to our democracy and to our way of life. To combat this threat, Patriotic Millionaires worked with Representatives Barbara Lee, Summer Lee, Jamaal Bowman, and Rashida Tlaib to introduce the Oppose Limitless Inequality Growth and Reverse Community Harms (OLIGARCH) Act -- a progressive tax on the ultra-wealthy.

Send a message to your Representative now and urge them to become a co-sponsor of the OLIGARCH Act to tackle extreme wealth and ensure that millionaires and billionaires start paying what they owe in taxes now.


A government that only works for the privileged few leaves us vulnerable to authoritarians and extremists who exploit economic insecurity, to the point where they can end our multiracial democracy as we know it.

Because the richest households are the largest tax evaders, the OLIGARCH Act also includes significant enforcement measures, including a requirement for at least a 30% audit rate on households covered by this tax, and establishes penalties for substantial valuation understatements.

For the ultra-wealthy, any tax automatically functions as a constraint on their wealth accumulation. That is why a tax designed solely to reduce wealth inequality, like the one proposed in the OLIGARCH Act, is the best approach.

62% of Americans -- six in ten -- say reducing the influence of money in politics needs to be a top priority for Congress and the President, and those numbers include 60% of Republicans and 65% of Democrats.3

In order to make that a reality, Congress needs to pass the OLIGARCH Act and reduce extreme, democracy-destabilizing wealth inequality.

Sign and send a message to your representative urging them to co-sponsor and pass the OLIGARCH Act now.

Thank you for all you do,


Erica Payne
Founder and President, Patriotic Millionaires

1 Forbes World’s Billionaires List 2024: The Top 200
2 The wealth of the 1% just hit a record $44 trillion
3 Americans’ Top Policy Priority for 2024: Strengthening the Economy

Sent via ActionNetwork.org. To update your email address, change your name or address, or to stop receiving emails from Patriotic Millionaires, please click here.

Rose Dyson

Apr 6, 2024, 10:44:22 PMApr 6
to John, Fixing The Global Economy Through World Federalism
With a kind of Tobin tax?
Sent from my iPad

On Apr 6, 2024, at 9:28 PM, John <john.c...@gmail.com> wrote:

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