Patriotic Millionaires Issue Statement on New Tax Counsel
“We are looking forward to working more closely with the Senate Finance Committee now that Professor Fleischer has become the co-counsel for the Democrats.”
Tag Archives: Carried Interest
Patriotic Millionaires Hit the Hill
On Thursday, June 23, several of my fellow Patriotic Millionaires and I traveled to Capitol Hill to meet with various elected officials and discuss carried interest.
Fred’s Focus: Pushing Consistently Bad Policies
Consistent on producing terrible, recreations of failed policies, that is. There is nothing creative, new, or substantive in any of his proposals.
Patriotic Millionaires Lobby for the Common Good
We figured if every self-interested corporation, industry group, and billionaire in America has a lobbyist, why shouldn’t regular American citizens? So we signed ourselves up for the job.
Pearls of Wisdom: Define “Captured By Wall Street”
The Patriotic Millionaires have suggested that the litmus test for political corruption should be to close the carried interest tax loophole, an egregious policy that allows investment fund managers to pay a much lower tax rate than everyone else
Really, Mike Sommers?
Our Chair Morris Pearl challenged Mike Sommers to a public debate and Mike has not yet responded. If this is the best argument he’s got, that was probably exactly the right decision.
Grover Norquist Is On The Wrong Side Of History
The truth is that the carried interest loophole represents a kind of destructive greed, a cancer that has crept its way into the core of our country’s economic system.
Larry Summer Echoes Patriotic Millionaires in Condemning Carried Interest
Yesterday, former Treasury Secretary Larry Summers echoed Patriotic Millionaires Chair Morris Pearl in an aggressive attack against billionaire David Rubenstein for his inexcusably corrupt stance on the carried interest tax loophole.
Vice President Biden: No Justification for Carried Interest
The Obama administration has long attempted to call out this blatant example of money’s corruptive influence in politics by closing the loophole and mandating that investment managers pay ordinary tax income the same as every other taxed worker in America
Let’s Talk Tax Day 2017
Tax day will come again next year with the same inequality. The headache will last all year and the years after that, until changes are made.
Patriotic Philanthropy?
Two hundred and thirty years later, the cancer of money in politics — as epitomized by the gross wealth and political power of players like Rubenstein — threatens to destroy that very same democracy.
PolitiFact Wisconsin Is Wrong: Carried Interest Is Corrupt
We would expect a more serious analysis from the largest newspaper in the Wisconsin, but they missed the fundamental issue.
Utah Patriotic Millionaires Deliver Letter to Sen. Hatch
Millions of Utahns will file their taxes this week, but thousands of investment fund managers earning millions of dollars per year will pay at a lower tax rate than teachers, firefighters and most ordinary Americans. A group of Utahns, the Utah Chapter of the Patriotic Millionaires, want this changed and called on Senator Orrin Hatch to close the “carried interest loophole.”
The Patriotic Millionaires v. Sen. Orrin Hatch Continued
Why have you, as Chairman of the Senate Committee on Finance, continued to “pick winners” in the tax code by refusing to hold a hearing or a vote on The Carried Interest Fairness Act (Bill S. 1686) which would end preferential tax treatment for Wall Street fund managers?
Patriotic Millionaires to Congress: Prove They Don’t Own You
Today in a strongly worded letter to House and Senate leadership, the Patriotic Millionaires demanded action on the carried interest loophole saying a vote would offer members “a unique opportunity to demonstrate to the American people that Congress is capable of conducting the people’s business; and that it is not, in fact, a wholly-owned subsidiary of Wall Street fund managers and other special interests.”
Patriotic Millionaires’ Continued Effort to Close the Carried Interest Loophole
This year, the Patriotic Millionaires crafted a campaign that took the fight to close the loophole to the individual states. New York, a financial hub of the US, has become the lead state in this year’s attempts to bypass inaction and see results. There has been resounding support following Senator Klein’s recent endorsement in the New York State Senate.
Taxes and Philanthropy
Some part of our national income is spent on collective purposes — the common good. Should decisions on how to spend that money be made by (a) individuals who earn the money deciding how to spend it or (b) representatives elected by the voters deciding?
Patriotic Millionaires Effort To Close The Carried Interest Loophole Takes Off In Albany
Determined to show Wall Street that it is the people who run America, this year the Patriotic Millionaires are executing a state-by-state campaign.
Patriotic Millionaires Challenge Carried Interest Top Lobbyist To Public Debate
Today, Morris Pearl, Chair of the Board of the Patriotic Millionaires, challenged Michael Sommers of PEGCC to a public debate on the carried interest tax loophole, the policy which allows fund managers to pay a lower tax rate than most other Americans.
Who is Mike Sommers and Why You Should Care
Today, Mike Sommers, former Chief of Staff to former Speaker of the House John Boehner, started a new job as president of the Private Equity Growth Capital Council (PEGCC), a trade association for Wall Street millionaires.