As growing income inequality and public discontent continue to define the political climate in the United States, a group of wealthy Americans is proposing a bold plan to rebalance economic power. The Patriotic Millionaires, an economic justice organization made up of high-net-worth individuals, unveiled a sweeping legislative platform this week called America 250: The Money Agenda, designed to curb the influence of the ultra-rich and restore democratic control of the economy.
Introduced at an “Expert Town Hall” event titled How to Beat the Broligarchs, the plan outlines four pieces of federal legislation aimed at disrupting what the group calls a descent into oligarchy. The term “broligarchs,” coined by the group, refers to powerful billionaire figures—such as Elon Musk and Donald Trump—who they say manipulate political and judicial systems to serve their own interests at the expense of the broader American public.
“The extreme concentration of wealth has always, without fail, translated into an extreme concentration of political power. The stakes for the nation couldn’t be more clear. We must act immediately,” the Patriotic Millionaires stated.
The proposed legislative agenda addresses taxation, wages, wealth concentration, and capital gains, with a focus on simplicity and equity. The group’s founder and president, Erica Payne, argued that the current system overwhelmingly benefits the ultra-wealthy while leaving working Americans economically insecure.
“America’s slide into oligarchy necessitates bold actions in order to reclaim democratic capitalism and forge a prosperous, equitable, and just future,” Payne said. “America 250: The Money Agenda is the only plan that will get us there. It will change not just our own lives, but the future and direction of our country. Our economy should be judged on how well it takes care of working people, not on how many billionaires it mints in a calendar day. By that measure, America is flunking its economics class. The only way to get better marks—and stop our country’s slide into oligarchy—is by fixing our tax code.”
The first piece of proposed legislation, The Cost of Living Tax Cut Act, would exempt federal taxes on income up to $41,600 per year—the median cost of living for a single adult without children. To balance the lost revenue, the bill proposes a surtax on millionaires, effectively shifting the federal tax burden from working- and middle-class earners to the wealthiest Americans.
The second bill, The Cost of Living Wage Act, calls for an increase in the federal minimum wage to $21 per hour, indexed to the actual cost of living. The current federal minimum wage has remained at $7.25 since 2009, despite significant increases in housing, healthcare, and food costs over the past decade.
A third proposal, The Equal Tax Act, would equalize tax rates for capital gains and income above $1 million, and close the so-called “stepped-up basis loophole,” which allows inherited wealth to avoid taxation on increased asset value. The group says this measure would prevent the ultra-wealthy from escaping taxes that ordinary Americans must pay on earned income.
The most ambitious proposal, The Anti-Oligarch Act, would impose major taxes on intergenerational wealth transfers, large trust-held assets, and unrealized income of the ultra-rich. The group also proposes a constitutional amendment to ensure wealth taxation is legally sustainable.
The platform directly echoes the warning issued by Supreme Court Justice Louis Brandeis nearly a century ago: “We can have democracy in this country or we can have great wealth concentrated into the hands of a few, but we can’t have both.”
Morris Pearl, board chair of Patriotic Millionaires and a former managing director at BlackRock, emphasized that the legislative package represents a fundamental shift in how government prioritizes its citizens.
“If Congress enacts the legislative agenda proposed on Monday, we will build a community dedicated to the common purpose of improving the lives of all working people in our country—not just the ultra-wealthy,” Pearl said. “America 250 will bring to account the politicians and their enablers who are sustaining our backwards status quo and demand better leaders to put us on a better, more sustainable path. The time for economic exploitation is over.”
The unveiling of the plan comes amid a nationwide groundswell of public anger. In recent weeks, large and sometimes chaotic town halls have erupted across the country, with citizens expressing outrage over President Donald Trump’s budget cuts to Social Security, Medicare, Medicaid, and Veterans Affairs. Some events were shut down by police after constituents booed and jeered their representatives, demanding accountability for policies seen as punishing working people.
The backlash has prompted some Republicans to avoid public appearances entirely. House Speaker Mike Johnson reportedly urged fellow Republicans to stay away from town halls, calling the participants “paid agitators.” President Trump similarly dismissed the protests, insisting that “angry town hall participants are merely Democratic activists.”
But Patriotic Millionaires and many observers insist the movement is real and growing. “The people showing up to these town halls are real Americans from across the political spectrum, who have real grievances and are experiencing firsthand the devastating fallout from Trump’s cuts to the federal workforce,” the group stated. “Working-class voters may have delivered Trump his victory in November, but these town hall events prove that they’re not going to give him a free pass, and they’re going to hold him to account.”
In districts where Republicans have refused to meet with constituents, activists have organized “empty chair” town halls—mock events with photos of absent representatives placed on empty chairs. At one such event in Little Rock, Arkansas, a standing-room-only crowd criticized Senators Tom Cotton and John Boozman, who attended a $7,000-a-plate fundraiser instead. In another, Indiana Congressman Jim Banks sent doughnuts in his place, prompting comparisons to Marie Antoinette’s “Let them eat cake.”
Democrats, too, have come under fire. Though some have attempted to capitalize on Republican absence by hosting “People’s Town Halls,” constituents have expressed frustration with their own party’s failure to challenge Trump’s agenda. A recent government funding bill passed with bipartisan support drew sharp criticism from progressives who believe Democrats have not done enough to protect working-class interests.
Among the few figures making headway with voters is Senator Bernie Sanders, who, along with Representative Alexandria Ocasio-Cortez, has been drawing massive crowds with their “Fighting Oligarchy” tour. In Denver last week, over 34,000 people turned out for a rally focused on confronting corporate power and advocating for economic reforms.
Inspired by these movements, the Patriotic Millionaires convened their How to Beat the Broligarchs town hall on April 7, bringing together a diverse array of thought leaders. Panelists included economist Stephanie Kelton, historian Rutger Bregman, Oxfam’s Nabil Ahmed, author Ruth Ben-Ghiat, ProPublica’s Jesse Eisenger, and filmmaker Abigail Disney. The event examined how wealth concentration is distorting democracy and offered the America 250 platform as a path forward.
Speakers outlined how unchecked wealth has infiltrated every branch of government—from regulatory agencies to the judiciary—often rendering democratic processes ineffective. Discussions emphasized the urgency of structural reforms to reverse this trend and reestablish government accountability to working people.
As economic pain deepens and public unrest intensifies, the question remains whether political leaders will heed the call for reform or continue to protect the interests of the few at the expense of the many.
“The extreme concentration of wealth has always, without fail, translated into an extreme concentration of political power. The stakes for the nation couldn’t be more clear. We must act immediately.” – Patriotic Millionaires
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