Under Embargo: Patriotic Millionaires Speak out in Support of Upcoming Minimum Wage Legislation

Thursday, April 20


April 20, 2017

Contact: Sam Quigley



**Watch the Patriotic Millionaires MEDIA REEL**



Raising wages is a win-win for everyone and, quite simply, it is the right thing to do … for our citizens, for our economy, and for the vitality of our country


Washington, DC – On Wednesday, April 26th, Democrats will announce a groundbreaking new unified Democratic minimum wage bill which will raise wages for millions of Americans. With four out of ten Americans making under $15 an hour in an economy that is 70% consumer driven, this is not just the right moral choice, it is the right economic choice. This bill will give millions of Americans a raise, increasing consumer demand and causing more money to flow into local communities and businesses.


In Washington, DC and all across the country, Patriotic Millionaires are speaking out in support of raising the minimum wage and calling on their elected officials to endorse this long overdue and much-needed effort to raise the minimum wage. In the Patriotic Millionaires’ own words:


“We must focus the debate on what the bigger picture is for our nation. The best thing that can happen to a small business is more money in the hands of the people who will spend it. Once business owners see revenues go up, they can see the business grow (more hires, expansion, etc.,), which in turn helps the economy grow. The widening divide in income inequality in this country is unacceptable, but the bigger picture is that lower wages hurts everyone’s income,” said Morris Pearl, Chair of the Patriotic Millionaires.


“The idea that we 1%ers can live in luxury while the 99% can’t even earn a halfway decent living is a complete non-starter.  After all, who is going to buy all the products and services that we want to sell? Economic inequality on the present scale is not just bad morally and socially.  It will ultimately destroy our economy,” said David Goldschmidt, Patriotic Millionaire.


“In my city of San Francisco, workers critical to our growth–waiters, cooks, clerical workers and many others–are being forced out because wages are too low. Even the wealthy want these people to stay. In most cases the minimum wage won’t affect the business negatively, and where it does San Franciscans are happy to pay a little more for the products and services,” said Dale Walker, Patriotic Millionaire.


“While I am not ignorant of or oblivious to the emotional and real life circumstantial challenges of those whose lives are constantly stressed due to inadequate income, I think a constantly ignored point, in this whole minimum wage discussion, is the economic one. And that is not the economy of the underpaid, but the economy of the nation! Why do we think that it is a sound argument to NOT pay a living wage to our employees and instead keep it in our own pockets? Why not put at least some part of it in the hands of those who will spend it?” said Patriotic Millionaire Stephen Prince, Founder and CEO of Card Marketing Services.


“I was beyond proud when my home state of California made the decision to raise the state minimum wage to $15.00 an hour. The time is long overdue for the nation to follow suit. Raising wages is a win-win for everyone and, quite simply, it is the right thing to do … for our citizens, for our economy, and for the vitality of our country,” said Ellyn Gelson, Patriotic Millionaire.


“In my two decades of business, I’ve learned that the best way to build and sustain a company and reduce risk of business failure, is by valuing workers. Better yet: those healthy and fairly-compensated workers are also great consumers, spurring demand for goods and services of all kinds, and driving even more economic activity,” said Patriotic Millionaire TJ Zlotnitsky, Chairman and CEO of iControl Data Solutions.


“Any corporation that makes money off of people working for poverty wages is enabling a form of slavery. Unfortunately, for too many business owners, that is actually just business as usual, and hence why we need a federal minimum wage that affords an above-poverty standard of living,” said Ryan Smith, Patriotic Millionaire.


To schedule an interview or for further comment, please contact Sam Quigley at sam@patrioticmillionaires.org.





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 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







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