Here’s a bold statement: The wealth gap is one of the greatest threats to democracy, and it’s time we stop ignoring it. As a millionaire living in California, I’m not just willing to pay higher taxes—I believe it’s my responsibility. But here’s where it gets controversial: I don’t just support California’s proposed 5% wealth tax on billionaires; I think it’s a step in the right direction, but it’s not nearly enough. Let me explain why.
My name is Scott Ellis, and I’m a 55-year-old Silicon Valley resident who’s part of Patriotic Millionaires, a group of wealthy Americans advocating for fair taxes, livable wages, and equal political power. I grew up in Colorado, studied in Boston, and lived in Texas before moving to California for business school at Stanford. And no, it wasn’t the taxes that brought me here—it was the weather, the opportunities, and the vibrant community. Taxes, to me, are the price we pay for a civil society. They fund the systems that make our lives better, and if we want an effective government, we need to fund it properly. But this is the part most people miss: taxes aren’t a burden; they’re an investment in our collective future.
My wife and I built our wealth through hard work and, yes, a fair amount of luck. I studied poverty and social issues in college, which shaped my worldview. Later, I worked at McKinsey, Hewlett-Packard, and even stepped back from my career to be a stay-at-home parent while my wife thrived in the tech industry. Over time, I’ve started nonprofits, advised organizations, and focused on addressing excessive wealth and its impact on society. Here’s the thing: wealth beyond $30 million doesn’t just sit idle—it translates into power, often at the expense of democracy.
Let’s talk numbers. If you have $30 million, you’ve already ‘won’ capitalism. You can afford multiple homes, your kids’ education, and a luxurious lifestyle. But once you surpass that, you’re not just wealthy—you’re wielding influence through campaign donations and lobbying that can distort the very foundations of democracy. That’s why I believe in a 50% annual tax on wealth over $30 million. It’s not about punishing success; it’s about ensuring that success doesn’t become a tool for oppression.
Now, some might argue, ‘Why should we tax the rich more? Isn’t that just penalizing hard work?’ Here’s my counterpoint: Success is as much about luck as it is about effort. I’ve seen single moms working three jobs, struggling to make ends meet, while some of the wealthiest people I know attribute their success solely to their own merit. It’s time we acknowledge that systemic factors play a huge role in wealth accumulation. And if you’re still not convinced, consider this: California’s proposed wealth tax only affects 200 billionaires. Yet, the conversation often shifts to whether they’ll leave the state. But here’s the real question: Should we let the fear of losing a few wealthy individuals distract us from addressing the needs of millions who lack healthcare, education, and basic opportunities?
California has the Golden Gate Bridge, Hollywood, Tahoe, and year-round sunshine. People will always want to live here. Companies will always want to operate here. The idea that a wealth tax will drive everyone away is a red herring. What we should be focusing on is how to build a society where wealth is a tool for progress, not a weapon of inequality.
So, here’s my challenge to you: Do you believe excessive wealth threatens democracy? Should we implement more aggressive wealth taxes, and if so, where should they start—at the state or federal level? Let’s have this conversation, because the future of our society depends on it.
