Patriotic Millionaires on Trump’s Trickle down Tax Plan

Thursday, April 27

FOR IMMEDIATE RELEASE

April 27, 2017

Contact: Kelsea-Marie Pym

[email protected]

202-446-0489

**Watch the Patriotic Millionaires MEDIA REEL**

 

PATRIOTIC MILLIONAIRES ON TRUMP’S TRICKLE DOWN TAX PLAN

“Considerably less for considerably more”

 

Washington, DC – Yesterday, in response to the President’s skimpy one page tax plan guideline, the Patriotic Millionaires released a succinct two-word statement: “patently absurd.”

 

Today, members of the group are sounding off in more detail:

 

“A headliner of the tax plan will be the proposal to cut the corporate rate to 15% in order to ‘spur growth.’ Either the White House is blatantly unaware of the failure of trickle-down policies, or they truly think that potential investors are sitting around with money under their mattresses that they are refusing to invest in new companies until corporate tax rates are dramatically slashed” said Patriotic Millionaires’ Chair Morris Pearl.

 

“If anyone wants to understand how the wealthy use their power to enrich themselves, there can be no better example than our billionaire president, who claims to be a populist taking on the system, but wants as his first order of business a massive tax cut saving himself and his children billions of dollars. During his campaign, Trump acknowledged that his whole life he’s been greedy, greedy, greedy; it appears that his presidential campaign might be his best investment ever” said Patriotic Millionaire Eric Schoenberg, Adjunct Professor Wharton Business School.

 

“The major beneficiaries of the proposed tax bill are wealthy Americans like President Trump and his family. The administration makes the preposterous claim that this tax cut will ‘put people back to work.’ But business owners can just as easily use this windfall to automate their factories or open foreign subsidiaries. And the American people will be the losers” said Patriotic Millionaire Patricia Martone, Attorney.

 

“It’s clear that the Republican tax plan is all about cutting taxes for the rich, like me, and promising that this will cause fantastic economic growth. There’s zero evidence that will happen;  it’s trickle down economics again. They still want to eliminate funding for the poor in the ACA, but one of my favorites is elimination of the AMT. Even in the only tax return we’ve seen from Trump it shows that the only reason he paid any tax at all was the AMT.  I pay AMT about every year, and I don’t want to eliminate it!” said Patriotic Millionaire Charlie Simmons, Entrepreneur.

 

“Considerably less for considerably more” said Patriotic Millionaire George Zimmer, Men’s Wearhouse founder, Generation Tux.

 

“Apparently, the Trump tax plan will continue to reward tax avoiders. The administration still fails to address the tax disadvantages of our domestic companies against their multinational competitors. How does it help to pay only 15 percent, if your larger competition pays 5 percent or less?” Patriotic Millionaire Bill Parks, President NRS.

 

Top economic advisor to Donald Trump, Steve Schwarzman has called the Patriotic Millionaires “traitors to their class” for their outspoken views to right the economic system. The group first came together in 2010 to demand an end to the Bush tax cuts for millionaires, instantly sparking the public’s attention. They are widely credited for moving the Obama administration to accepting tax cuts. Overnight, the group became a media sensation. Over the last six years, the group has generated hundreds of millions of dollars’ worth of media attention, appearing on outlets from the Daily Show with Jon Stewart to the PBS NewsHour; from the front page of the Boston Globe to The History Channel. The Patriotic Millionaires’ reach is so vast that the President of the Czech Republic referenced the group in an address to the Czech Parliament. The largest television station in Japan and a major Swedish magazine both did feature stories on the group. We had the honor of joining the President in the White House in 2012 for his Tax Day address and in 2014 for the signing of the Executive Order raising wages for federal contract employees.

 

To schedule an interview or for further comment, please contact Kelsea-Marie Pym at [email protected].

 

 

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About the Patriotic Millionaires

 

The Patriotic Millionaires is a group of 200 high-net-worth Americans who are committed to building a more prosperous, stable, and inclusive nation. The group focuses on promoting public policy solutions that encourage political equality; guarantee a sustaining wage for working Americans; and ensure that millionaires, billionaires, and corporations pay a greater percentage of taxes. You can find out more at http://patrioticmillionaires.org/about/

 

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 http://patrioticmillionaires.org/media

 

 

 

 

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