For Immediate Release
Wednesday, June 20, 2018
Contact: Sasha Grodsky
Patriotic Millionaires on the $15 Minimum Wage in MA: “It’s Just the Right Thing”
“Smart capitalists know that in order to thrive, a consumer economy like ours needs customers with money to spend”
Boston, MA – This afternoon, following the announcement that the Massachusetts Legislature has agreed to raise the state minimum wage to $15 an hour by 2023 the Patriotic Millionaires issued the following statement:
“There has never been a more critical time to raise the minimum wage. Smart capitalists know that in order to thrive, a consumer economy like ours needs customers with money to spend. Raising the minimum wage will put more money in the pockets of people who will spend it. That spending will create jobs which in turn will fuel more demand. Not only did the Massachusetts legislature make the right moral decision today, they also made the economically sound one.” said Morris Pearl, Chair of the Patriotic Millionaires and former managing director BlackRock Inc.
“Employers succeed when low-income people and families have more money to reinvest in the economy. Businesses see tangible benefits when they pay their employees more – a phenomenon we have seen in the states, counties, and municipalities that have raised the minimum wage. Massachusetts has just taken a huge step forward in investing in the economic future of all of its residents.” said Patriotic Millionaire Amelie Ratliff, of Cambridge, MA
For further comments or questions, please contact Sasha Grodsky at [email protected].
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 https://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 https://patrioticmillionaires.org/media
The Patriotic Millionaires
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