Patriotic Millionaires’ Chair Submits Formal Notes to Consumer Finance Protection Bureau

September 14, 2016 Staff

Earlier this summer, the Consumer Financial Protection Bureau released a new proposal for regulations on payday lending. The organization asked for formal suggestions and commentary from the public. Chair Morris Pearl submitted the following letter in favor of the new proposal to end predatory debt entrapment for the Patriotic Millionaires:

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I’m not any more altruistic than the next guy, I’m just greedy for a different kind of country than most other rich people. I want to be a rich man in a rich country.
—Morris Pearl, Patriotic Millionaires Chair and Former Managing Director at BlackRock

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Patriotic Millionaires

Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system: 1. All citizens should enjoy political power equal to that enjoyed by millionaires; 2. All citizens who work full time should be able to afford their basic needs; 3. Tax receipts from millionaires, billionaires and corporations should comprise a greater proportion of federal tax receipts.

Patriotic Millionaires1 day ago

"We can afford to pay the people, and companies can afford to pay a living wage."

- Patriotic Millionaire John Driscoll at our annual symposium. Here's the link to the presentation, in case you missed it:
https://www.youtube.com/watch?v=ydI9C1jsMZ4&t=9553s

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Patriotic Millionaires4 days ago

"We may have a democracy, or we may have trillionaires, but we absolutely, positively, no way in hell, can have both.” - Bob Lord at our annual symposium, where he explained when he expects to see the world's first trillionaire, and laid out the consequences of one person having that much power.

Here's the link to the presentation, in case you missed it: https://www.youtube.com/watch?v=ydI9C1jsMZ4&t=9553s

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Patriotic Millionaires5 days ago

"If a millionaire like me from one of the most famous families on Earth wants wealthy people to pay more in taxes, there is no reason or excuse for the G20 to ignore our pleas."

Great to see Patriotic Millionaire Abigail Disney in the Guardian explaining how the G20 can save the planet and safeguard our democracies if they find the courage to #taxtherich

World leaders have a chance to raise taxes for rich people like me. I’m begging them to take it | Abigail Disney

The public supports it, and even the rich are calling for it. We must prevent a deeper slide into global inequality, says activist and film-maker Abigail Disney

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Patriotic Millionaires

The Patriotic Millionaires is a group of high-net worth Americans committed to building a more prosperous, stable, and inclusive nation.

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Patriotic Millionaires’ Chair Submits Formal Notes to Consumer Finance Protection Bureau

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