For Immediate Release
January 30, 2018
Contact: Sam Quigley
Millionaire slams corporations and GOP on campaign to spin massive corporate tax cuts
Washington, DC – Today, in a viral video released by NowThis, Patriotic Millionaire Abigail Disney spoke out against the ongoing misinformation campaign by corporate America and the GOP, in which they use a series of bonuses to distract from the real costs of the GOP tax bill.
In the video Disney, the granddaughter of Walt Disney company co-founder Roy Disney and great-niece of Walt Disney, points out that multinationals are giving only a fraction of their tax windfall in bonuses and using the rest to buy back stock and reward wealthy executives and shareholders. What’s worse, many are using their bonuses as cover to layoff workers, and the Congressional GOP is already using the debt from this tax cut as a justification to target Social Security, Medicare, and Medicaid. A small bonus is certainly a great thing, but it comes at a greater price.
In her own words:
“Bonuses are nice but they’re not the whole story. Many companies are using them to distract you from what’s really going on. On the same day that Walmart announced its famous bonuses, guess what? They also closed 63 Sam’s Clubs and brought back $4 billion of stock. Bank of America’s bonuses account for less than 5% of its windfall, and Apple is getting back over a thousand times as much in cash than it plans to offer in bonuses. What’s more, Kimberly Clark, GE, State Farm, IBM, and yes, even Carrier, are laying off thousands.”
To schedule an interview or for further comment, please contact Sam Quigley at [email protected].
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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 http://patrioticmillionaires.org/about/
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