March, 12 2020, 12:00am EDT
Patriotic Millionaires Chair Blasts Trump Coronavirus Relief Plan
"A payroll tax cut would give five times more relief to someone making $100,000 a year than someone making $20,000."
WASHINGTON
Today, as Republican Members of Congress refuse to support a House bill designed to provide relief to those affected by the coronavirus outbreak, and President Trump continues to advocate for corporate tax cuts and payroll tax cuts as the answer to the virus' economic effects, Morris Pearl, the Chair of the Patriotic Millionaires and a former managing director at BlackRock, Inc., released the following statement:
"It is absurd that with millions of Americans at risk of economic devastation as a result of the spreading coronavirus, the Trump administration's answer is the same answer as for all problems: cut taxes for the rich, and close the borders. The shareholders of the hotel, cruise, and airline companies should not get a dime in taxpayer relief until every single low-wage worker in America is taken care of. Even the administration's most progressive proposal, payroll tax relief, is still too regressive and ineffective.
A payroll tax cut would give five times more relief to someone making $100,000 a year than someone making $20,000. For hourly and tipped employees who can't go in to work if they get sick, the most vulnerable population that we should be tailoring any relief efforts specifically to help, a payroll tax cut actually has no impact whatsoever. Payroll tax cuts aren't the answer to the economic damage caused by the spreading coronavirus.
At the very least these workers need immediate paid sick leave, but for them to be able to pay their bills and support their families, they need economic relief more than any other group of Americans. Any form of economic stimulus must do that, and a payroll tax cut is a much less effective way to help them than direct cash payments or expanded unemployment insurance."
For further comments or questions, 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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Voting Rights Defenders Applaud Michigan Dems for Key Reforms
"Today is a good day for democracy in Michigan because more people will have a voice at the polls, in how our state is governed, and how our tax dollars are spent," said one campaigner.
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On the heels of approving a clean energy package to combat the climate emergency, Democratic Michigan Gov. Gretchen Whitmer on Thursday signed a series of bills to tackle another urgent issue: voting rights.
"In Michigan, we're proving through our actions that we stand for fundamental American values of freedom and democracy," Whitmer said on social media. "Let's keep working to protect our democracy and ensure our elections are free, fair, and safe."
The governor held a signing ceremony at the NAACP building in Detroit, where she was joined by local leaders, voting rights advocates, and Democratic Secretary of State Jocelyn Benson, who said that "we are here today to protect the people who protect democracy."
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"The job of election officials has increasingly become politicized. It's critical that we step up to protect their safety and their ability to do their jobs," asserted state Rep. Kara Hope (D-74), who led some of the bills. "These basic safeguards are critical to addressing the threats to our democracy as we head into 2024."
Aquene Freechild, co-director of Public Citizen's Democracy Campaign, said that "we applaud Michigan for prioritizing protecting election officials, and we're proud to support Rep. Hope and Secretary of State Benson in their efforts to address this threat to Michigan elections. We hope more states follow suit to protect these essential workers of American democracy."
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Whitmer also signed legislation to "regulate political ads that use artificial intelligence and tighten the election certification process that former President Donald Trump tried to disrupt following his 2020 loss," reported Bridge Michigan.
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Public Citizen said that Michigan is the fifth state to regulate artificial intelligence in election communications, and the legislation effectively bans "deepfakes," which are AI-generated images, audio, or video of people that appear real.
"Thank you Michigan for showing that we don't have to stand helplessly aside as political deepfakes threaten to destroy voters' ability to distinguish authentic content from fraudulent audio, video, and pictures," said Public Citizen president Robert Weissman. "Michigan's requirement that political deepfakes be labeled is an example for the rest of the nation—one we expect states across the country to follow."
As Bridge Michigan detailed:
The new law governing election certification aligns Michigan with the federal Electoral Count Reform Act, which was introduced in Congress with a handful of GOP co-sponsors and signed last year by Democratic President Joe Biden.
Among other things, the federal law makes clear that the vice president has a “ministerial” duty to count electoral votes that states send to Congress, contradicting Trump's claim that former Vice President Mike Pence could and should have blocked certification of the 2020 presidential election.
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In a bid to "restore fairness to the tax code and level the playing field for working families," U.S. Sen. Ron Wyden on Thursday led 15 Senate colleagues in introducing the Billionaires Income Tax Act, legislation the Oregon Democrat said would "ensure billionaires start paying their fair share in taxes."
"Right now, the average billionaire can wriggle their way into a measly 8% tax rate while a nurse or firefighter making $45,000 is paying a 22% tax on their wages," Wyden, who chairs the Senate Finance Committee, said on the upper chamber floor.
"Tax laws simply don't apply to billionaires in the same way they do to everybody else," the senator continued. "They're optional, while everybody else's tax rules are mandatory."
"Working people don't get to play by the same rules as billionaires," he added. "They don't get to call up an army of high-priced lawyers and accountants every time they don't feel like paying their taxes."
That unjust disparity, Wyden said, boils down to three words: "Buy, borrow, die."
"Here's how it works: A billionaire buys a business, and then borrows against its growing, untaxed value to fund their extravagant lifestyle," he explained. "Everything from superyachts, to luxurious vacations, expensive art deals, you name it. It goes up and up in value all while not paying a dime in tax."
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The measure would raise an estimated $560 billion over 10 years from less than 1,000 of the wealthiest U.S. households.
Sen. Sheldon Whitehouse (D-R.I.), one of the bill's co-sponsors, said in a statement that "teachers and firefighters shouldn't be paying higher tax rates than the ultrawealthy. It's that simple."
Co-sponsor Sen. Elizabeth Warren (D-Mass.) asserted that "for too long, billionaires have rigged the rules to cut their taxes to the bone, all while working families struggle to make ends meet."
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Wyden's bill was introduced on the same day that the advocacy group Americans for Tax Fairness—which supports the legislation—reported that "the collective fortune of America's 741 billionaires has grown to $5.2 trillion at the end of November 2023, the highest amount ever recorded."
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"World leaders are not listening to the younger generation, so what if we turn young climate advocates into older versions of themselves—into their future voices?"
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With help from generative artificial intelligence, We Don't Have Time turned over a dozen young climate campaigners into future versions of themselves to stress to world leaders the necessity of bolder action to tackle the climate emergency.
We Don't Have Time, the world's largest social network for climate solutions, launched the "Future Voices" initiative on Thursday, as the United Nations Climate Change Conference (COP28) began in the United Arab Emirates and scientists warned that after months of devastating heat and extreme weather events, 2023 is "virtually certain" to be the warmest year on record.
"World leaders are not listening to the younger generation, so what if we turn young climate advocates into older versions of themselves—into their future voices?" said David Olsson of We Don't Have Time. "Then the demand for ending fossils and accelerating solutions can't be ignored. We encourage everyone to support this message."
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The website features an interactive globe through which users can view video testimonies from campaigners around the world (also included below). One of them stars Swedish Fridays for Future and Climate Live campaigner Andreas Magnusson, who said in a statement that "in the fight against the climate crisis, including and listening to young people is crucial."
Speaking from Sweden in 2050, the AI-aged Magnusson says in his video that "in my hometown, Mockfjärd, I've seen landslide after landslide hit, caused by the heavy raining. And yet, I am not the one who suffers most. I come from a great place of privilege. I come from a part of the world that is not affected by nature's fury like other parts of the world are."
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Near the end of Magnusson's video, the 2023 version of him warns: "Time is running out. The choices world leaders make today will determine the kind of world we will live in tomorrow. The future is now."
In addition to the AI videos, the Future Voices initiative includes an online hub to help young activists who can't make it to Dubai still participate in COP28. Organizers are planning daily broadcasts with climate leaders and decision-makers.
"We are very proud and happy to be able to offer this opportunity for young people to get access to the most important climate negotiations of the year and deliver their messages to world leaders," said Olsson. "It would not have been possible without our incredible community of youth climate advocates."
Magnusson said that "Future Voices and the youth hub make the discussions at COP28 more inclusive."
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Watch more of the Future Voices videos below:
Nikka Gerona of the Philippines is co-chair of the United Nations Children's Fund (UNICEF) Regional Young People's Action Team in East Asia and the Pacific.
Isaias Hernandez of the United States is an environmental justice educator and public speaker who created QueerBrownVegan.
Valeria Horton of Mexico founded Green Reconnection and was the Mexican lead negotiator for loss and damage at COP27.
Sophia Mathur of Canada is a climate advocate with Fridays for Future and recipient of the 2021 Action for Nature International Award.
Agustín Ocaña of Ecuador is the founder and chairperson of the Global Youth Coalition.
Anita Soina of Kenya is a climate advocate, politician, and global youth champion for the U.N.-hosted partnership Sanitation and Water for All.
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