Patriotic Millionaires on “Trump’s Trickle Down”

Wednesday, August 30

FOR IMMEDIATE RELEASE                               

August 30, 2017

Contact: Sam Quigley


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America had two disasters visited on it this week: Hurricane Harvey and Trump's Trickle Down Tax Plan

"You can't 'bring back Main Street' when you are lying in bed with Wall Street."


Washington, DC – "You can't 'bring back Main Street' when you are lying in bed with Wall Street," said Patriotic Millionaires Chair Morris Pearl, a former BlackRock executive. "And why on earth would we give a tax break to multi-national corporations who haven't even paid us what they already owe us. The fact that the President is selling Trump's Trickle Down days after one of the most expensive natural disasters of recent memory is downright offensive."



The President's proposed budget would eliminate an astounding $667 million in FEMA funding, about $200 million from the National Oceanic and Atmospheric Administration's efforts to help coastal states prepare for dangerous climate and weather affects, $190 million from the National Flood Insurance Program, $62 million from the Weather Service, and $114 million in disaster assistance from the Agriculture Department. 


In response to Trump's wholly inappropriate speech this afternoon, Patriotic Millionaires across the country are speaking out. In their own words:


"Houston had two disasters visited on it this week: Hurricane Harvey and President Trump. The damage from the first one is immediately obvious, but the damage from the second is more insidious and comes in the form of tax cuts for wealthy individuals which will necessitate a $650 million dollar cut for FEMA. As a wealthy individual who would benefit from this tax cut, I say I don’t want or need it. It will not help my business or create jobs. In a typically underhanded manner, President Trump is cutting the very same life line he is handing to the residents of Houston today," said Patriotic Millionaire Robert Haines.


"Trump supporters: Please understand–tax cuts for the wealthy do not stimulate business or create jobs. They only result in less in support for public education, health care, and other services he promised to provide you. That can't be possible without taxes to pay for it," said Patriotic Millionaire Dale Walker.


"Donald Trump didn’t have time to meet with any hurricane victims in Texas, but he somehow found the time to push for tax cuts for the rich. A more twisted set of priorities is hard to imagine," said Patriotic Millionaire Ron Garret.


"Cutting FEMA and decreasing taxes on the wealthy does not make America great again," said Patriotic Millionaire Terence Meehan.


"President Trump's call for tax cuts while the nation's attention is properly focused on helping those struggling in the aftermath of Hurricane Harvey shows the absurdity of his position. The people of Texas need and deserve the help of their Federal Government. That, and everything else the nation sorely needs, costs money. A lot of money. Money does not grow on trees. It needs to come from taxes. It is wrong to tell the people of Texas that help is on the way while at the same time arguing for lower taxes on wealthy individuals and corporations. It's time to end the political theatrics and deal with reality," said Patriotic Millionaire Patricia Martone.


“With Trump's “new" tax strategy, he’s proposing old trickle-down economics that never worked. He is falsely promising that tax cuts for the wealthy and large corporations will result in raises for the middle-class. Instead, a well-run government can use that tax money to benefit the middle-class and others to recover from destruction such as that in Houston.  Trump’s trickle-down economic rhetoric is no justification for tax cuts, and will be of little solace to victims of future disasters dealing with the results of massive cuts to FEMA in Trump’s budget," said Patriotic Millionaire Richard Boberg.


To schedule an interview or for further comment, please contact Sam Quigley, or (202) 446-0489.




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


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