Pence Admits Tax Bill Helped the 1% in CPAC Speech

Thursday, February 22

For Immediate Release

February 22, 2018

Contact: Sam Quigley


A Tax Cut for the 1%

Washington, DC – This afternoon, in response to Mike Pence’s discussion of the Trump tax bill in a speech at CPAC, Morris Pearl, Chair of the Patriotic Millionaires and former Managing Director at BlackRock, Inc., released the following statement:

“Earlier today, Mike Pence bragged that over 4.3 million Americans have seen benefits from the Trump tax bill. For once, he’s right. 4.3 million Americans is barely over 1% of the American population, and as a member of the top 1%, I can say with certainty that the tax bill was great for my bottom line. I’ve already made a couple hundred thousand dollars from my investments in companies that have shifted some of their profits overseas, where they will be paying lower taxes. It’s too bad for the other 99% of Americans who are going to suffer from spending cuts on schools, roads, or health care, but in Mike Pence’s eyes, that’s a small price to pay to ensure millionaires like me get tax cuts.”

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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

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