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For Immediate Release

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Press Release

Estate Tax Repeal is "Insulting, Harmful, and Blatantly Bad Policy"

"Who in the world could look at this country and think that giving more money to the heirs of multi-million dollar fortunes is our most urgent and pressing need?"
WASHINGTON -

Today, in response to Senators Mitch McConnell, Chuck Grassley, and John Thune introducing a plan to repeal the federal estate tax, Morris Pearl, former managing director at BlackRock, Inc., and Chair of the Patriotic Millionaires issued the following remarks:

"Who in the world could look at this country and think that giving more money to the heirs of multi-million dollar fortunes is our most urgent and pressing need? The estate tax affects less than 2,000 families each year, and even with the tax, those heirs are able to inherit over $22 million completely tax free. Meanwhile, nearly 100 million Americans live in or near poverty, and 40% of working Americans make less than $15 an hour. 

This legislation is insulting to those millions of Americans who are struggling, it is harmful to the fabric of our democracy, and it is blatantly bad policy that is intended only to please ultra-wealthy Republican donors."

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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.

'We WILL Fight Back': Outrage, Resolve as Protests Erupt Against SCOTUS Abortion Ruling

Demonstrators took to the streets Friday to defiantly denounce the Supreme Court's right-wing supermajority after it rescinded a constitutional right for the first time in U.S. history.

Brett Wilkins ·


80+ US Prosecutors Vow Not to Be Part of Criminalizing Abortion Care

"Criminalizing and prosecuting individuals who seek or provide abortion care makes a mockery of justice," says a joint statement signed by 84 elected attorneys. "Prosecutors should not be part of that."

Kenny Stancil ·


Progressives Rebuke Dem Leadership as Clyburn Dismisses Death of Roe as 'Anticlimactic'

"The gap between the Democratic leadership, and younger progressives on the question of 'How Bad Is It?' is just enormous."

Julia Conley ·


In 10 Key US Senate Races, Here's How Top Candidates Responded to Roe Ruling

While Republicans unanimously welcomed the Supreme Court's rollback of half a century of reproductive rights, one Democrat said "it's just wrong that my granddaughter will have fewer freedoms than my grandmother did."

Brett Wilkins ·


Sanders Says End Filibuster to Combat 'Outrageous' Supreme Court Assault on Abortion Rights

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Jake Johnson ·

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