February, 22 2018, 03:30pm EDT
A Tax Cut for the 1%
This afternoon, in response to Mike Pence's discussion of the Trump tax bill in a speech at CPAC, Morris Pearl, Chair of the Patriotic Millionaires and former Managing Director at BlackRock, Inc., released the following statement:
WASHINGTON
This afternoon, in response to Mike Pence's discussion of the Trump tax bill in a speech at CPAC, Morris Pearl, Chair of the Patriotic Millionaires and former Managing Director at BlackRock, Inc., released the following statement:
"Earlier today, Mike Pence bragged that over 4.3 million Americans have seen benefits from the Trump tax bill. For once, he's right. 4.3 million Americans is barely over 1% of the American population, and as a member of the top 1%, I can say with certainty that the tax bill was great for my bottom line. I've already made a couple hundred thousand dollars from my investments in companies that have shifted some of their profits overseas, where they will be paying lower taxes. It's too bad for the other 99% of Americans who are going to suffer from spending cuts on schools, roads, or health care, but in Mike Pence's eyes, that's a small price to pay to ensure millionaires like me get tax cuts."
To schedule an interview or for further comment, please contact Sam Quigley at sam@patrioticmillionaires.org.
The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country's political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three "first" principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.
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