The Progressive


A project of Common Dreams

For Immediate Release

Sam Quigley,, 202-446-0489

Letting Larry Kudlow Dictate Economic Policy is a "Terrible Idea"

Patriotic Millionaires Chair responds to Kudlow's criticisms of the federal minimum wage


Today, in response to White House economic adviser Larry Kudlow saying at a Washington Post event this morning that he thinks a federal minimum wage is "a terrible idea," Chair of the Patriotic Millionaires Morris Pearl released the following response:

"Larry Kudlow's view that a federal minimum wage is a 'terrible idea' is absurd. The idea that the federal minimum wage shouldn't be raised is ridiculous enough considering how little $7.25 per hour actually is, but to say that large companies should have the complete freedom to dictate the income of workers is stunning. This is beyond the pale, completely contrary to what virtually every credible economist believes, and dangerous. The American people should be incredibly worried that President Trump's chief economic adviser is for a policy that would further enrich just a few wealthy people by allowing millions of Americans to sink deeper into poverty. The minimum wage isn't a terrible idea, letting Larry Kudlow dictate economic policy is a terrible idea."

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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