Here’s a bold statement: Extreme wealth isn’t just a personal achievement—it’s a threat to democracy. And yet, many of us turn a blind eye to this reality. But here’s where it gets controversial: I’m a millionaire living in California, and I’m not just okay with paying higher taxes—I believe it’s my duty. Let me explain why.
My name is Scott Ellis, and I’m part of a group called Patriotic Millionaires, where wealthy individuals like myself advocate for fairer taxes, livable wages, and equal political power. I didn’t always live in California—I grew up in Colorado, studied in Boston, and even spent time in Texas. I moved here for Stanford’s business school, drawn by its reputation and the allure of golfing in winter. But what keeps me here isn’t the tax rates; it’s the vibrant culture, the weather, and the opportunities. Taxes? They’re the price of living in a civil society—a shared responsibility we can’t ignore.
But this is the part most people miss: Taxes aren’t a burden; they’re an investment in a functioning society. Look around the world—effective governments exist because they’re funded. We should aim for efficiency, not avoidance. That’s why I’m proud to pay my share, and I believe those with more wealth should contribute more. It’s not just fair—it’s common sense.
My journey to this mindset wasn’t linear. I studied sociology and urban issues in college, questioning what fairness and justice truly mean. Later, as my wife and I built successful careers—hers in consumer internet at companies like Yahoo, Google, and Pinterest, and mine at McKinsey and Hewlett-Packard—I stepped back to raise our kids. This decision gave me time to reflect on societal inequalities and how we can address them.
Here’s a thought-provoking question: How much wealth is enough? I argue that $30 million is the threshold. Beyond that, you’ve ‘won’ capitalism. You can afford multiple homes, your kids’ education, and a luxurious life. Yet, many in Silicon Valley—talented, successful, and incredibly wealthy—focus on accumulating more, often for those who already have plenty. Meanwhile, 10% of Americans live in poverty. Doesn’t that feel wrong?
California’s proposed 5% billionaire wealth tax doesn’t affect me directly, but it’s a step in the right direction. Still, it’s not enough. We need federal-level reforms, and we need them now. When critics argue that the wealthy will flee California, I say: People and companies move all the time. California’s appeal—its talent, innovation, and natural beauty—won’t disappear because of a tax. Look at Nvidia’s CEO, who recently affirmed their commitment to staying here.
And here’s where it gets even more controversial: I believe we should implement a 50% annual tax on household wealth over $30 million. Excessive wealth translates to excessive power, undermining democracy through massive campaign donations. Luck plays a far bigger role in success than many admit, yet the wealthy often attribute their fortunes solely to hard work. I’ve seen single moms working three jobs, struggling to make ends meet, while some billionaires hoard wealth they’ll never use.
So, let’s start a different conversation. What does financial success truly mean? How can we build a society where wealth doesn’t equate to power? I’m staying in California, not because of its tax policies, but because I believe in its potential to lead this change. What do you think? Is extreme wealth a personal triumph or a societal problem? Let’s discuss—I’m all ears.
