"I must say that I consider the phrase 'tax the rich' . . . when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs, and even the phrase 'from the river to the sea,' Roth said on the call. The rich whom the politicians are targeting started with nothing, are the epitome of the American dream. They are at the top of the great American economic pyramid for a reason."
"We believe that wealthy people like our members should be taxed for a number of reasons. As an organization, Patriotic Millionaires is made up of high-net-worth individuals who advocate for more progressive taxes in order to close the wealth gap."
"A majority of regular Americans say that billionaires make it harder for them to achieve their American dreams, according to a 2025 Harris poll."
New York lawmakers are considering a pied-à-terre tax targeting second homes valued at $5 million or more, part of broader legislation to tax wealthy individuals. Steven Roth, CEO of Vornado Realty Trust, strongly opposes this initiative, comparing the rhetoric around taxing the rich to hate speech during an earnings call. He argues wealthy individuals deserve praise for embodying the American dream. However, perspectives among the wealthy differ significantly. A 2025 Harris poll shows most Americans believe billionaires hinder their ability to achieve financial success. Conversely, organizations like Patriotic Millionaires, composed of high-net-worth individuals, actively support progressive taxation to address wealth inequality and close the gap between rich and poor.
Read at Fast Company
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