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For Immediate Release


Press Release

IRS Records Show Rampant Tax Avoidance by America's Wealthiest Billionaires

"Our system only taxes 'taxable income' and if you are really rich, you don't need any 'taxable income,' so you get to pick and choose when and how you're taxed."

This morning, ProPublica released a report based on secret IRS data that reveals how billionaires like Elon Musk and Warren Buffett avoid paying billions of dollars in income taxes. In response to this article, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at BlackRock, Inc., released the following statement:


"Today's ProPublica report is shocking, but it is not surprising. It's common knowledge that the richest people in the US have rigged the tax code in their favor, leaving them able to game the tax code to avoid paying almost anything in taxes. This is how the richest 400 Americans end up owning more wealth than the bottom 150 million Americans combined. Our system only taxes "taxable income" and if you are really rich, you don't need any "taxable income," so you get to pick and choose when and how you're taxed. 

There is no justification for a tax code that allows billionaires to pay significantly lower tax rates than normal working Americans. We must change the tax code to force the rich to pay their fair share."


Patriotic Millionaires

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.

'Bolsonaro Out!': Massive Protests as Brazil's Covid-19 Death Toll Tops 500,000

"We are on the street to defend our country, our people, our lives, our culture, our education, our economy. We can no longer die of Covid."

Brett Wilkins, staff writer ·

Summit Participants Embrace 'Vaccine Internationalism' to End Pandemic

"Our goal is simple: to end the pandemic as quickly as possible by securing Covid-19 vaccines for all," says the coordinator of Progressive International's four-day virtual summit.

Brett Wilkins, staff writer ·

As Iran Elects New President, Experts Urge Biden to Rejoin Nuclear Deal, Lift Sanctions

"The Biden administration must remain resolute and seek a break from the disastrous conditions that helped contribute to this result."

Brett Wilkins, staff writer ·

UN General Assembly Condemns Myanmar Junta Violence, Urges Arms Embargo

Member nations voted 119-1 in favor of the resolution, which also calls for a return to the country's fragile democracy.

Brett Wilkins, staff writer ·

Dems Introduce Abolition Amendment to Scrap Constitution's 'Slavery Clause'

"The loophole in our Constitution's ban on slavery not only allowed slavery to continue, but launched an era of discrimination and mass incarceration that continues to this day," said Sen. Jeff Merkley.

Julia Conley, staff writer ·