Patriotic Millionaires on Senate Tax Vote: “A Stab in the Heart to the American Dream”

Saturday, December 02

For Immediate Release

December 2, 2017

Contact: Sam Quigley


“A Stab In the Heart to The American Dream”


Washington, DC – Today, members of the Patriotic Millionaires tore into Republican Senators for passing the so-called Tax Cuts and Jobs Act, which piles mountains of debt onto the country to pay for tax cuts for millionaires and wealthy corporations.


“This bill is a national embarrassment,” said former Blackrock executive Morris Pearl, Chair of the Patriotic Millionaires. “It is anathema to everything the country was founded on. When the government allows dynastic wealth and multinational corporations to dictate the terms of our economy, everyone else suffers. This bill will be a disaster for millions of hardworking American families, devastating both their bank accounts and their health, all in the name of tax cuts for the wealthy. It is no exaggeration to say this bill is one of the most miserable pieces of legislation to ever pass through the Senate, and its supporters should be ashamed of what they did today. This is nothing less than a stab in the heart to the American Dream.”


“This bill is nothing more than a disgraceful attempt to take from the poor and the middle class of this country to give to the rich. Millions of Americans are going to be hurt by this bill, whether it’s because of higher taxes or unaffordable health insurance. Today’s vote sends a clear signal to the American people that they don’t matter to their Senators, that the only thing that’s important to this bill’s supporters are campaign contributions. The loss of the medical expense deduction and the student loan interest deduction are particularly cruel, targeting both those who are most vulnerable and those who are just looking to build a better life for themselves through education,” said Patriotic Millionaire Karen Stewart, retired professor of finance and accounting.


If this tax bill becomes law, millions of Americans will have been condemned to poverty and sickness by the very Senators who are supposed to represent them. This vote was a grotesque reminder that for many in the Senate, their constituents matter less than the steady flow of campaign contributions from billionaire donors. I just hope that the people who are buying into the “it is all for the working class” story the Republicans are telling will you remember in November of 2018 and 2020 who passed this. This bill will benefit people like me to the tune of 100’s of thousands of dollars in lower taxes all on the back of our children in bigger deficits and the working class in higher taxes,” said Vice Chair of the Patriotic Millionaires Stephen Prince, founder and CEO of Card Marketing Services, Inc.


“The Senate today voted to add at least another trillions to the national debt in order to provide massive tax cuts for corporations and rich people. This bill should be called the ‘Cut, cut, cut Donald Trump’s Taxes Act,’ because it will save Trump and his family billions of dollars while 13 million Americans lose their health insurance,” said Patriotic Millionaire Eric Schoenberg.


“This tax bill will cause a massive transfer of wealth in our country; moving trillions from the poor and the middle class to the pockets of billionaires and wealthy corporations. It is economically ludicrous and morally reprehensible. This bill was unpopular for a reason – the American people should not accept tax ‘reform’ that only helps the rich and creates growing inequality,” said Patriotic Millionaire George Zimmer, founder of Men’s Wearhouse and Generation Tux.

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About the 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. You can find out more at

The Patriotic Millionaires have appeared on hundreds of media outlets here and abroad, including The Daily Show with Jon Stewart, the PBS NewsHour, The New York Times, Washington Post, CNN, MSNBC, Fox News, and many others. You can find more coverage at


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