If you want to understand who owns America’s wealth, a new book argues, you should look at the tens of thousands of auto dealerships, beverage distributors, and contracting firms spread across the country. These run-of-the-mill businesses are how “the hidden 1%” build the fortunes that dominate American wealth. Together these Everywhere Millionaires have more wealth than America’s CEOs or billionaires.
Understanding the “staggering fortunes” gained from running “unglamorous businesses” in every corner of America is also key for the future of taxation. The Big Beautiful Bill contained trillions in tax cuts, especially aimed at businesses and wealthy business owners. Any future governing agenda that seeks to reverse the Big Beautiful Bill or to contain growing wealth inequality will have to reckon with these Everywhere Millionaires.
Please join the authors of this groundbreaking research, former executive branch and legislative branch policy practitioners, and advocates to discuss their findings and implications.
