The following letter was sent to the DC Council on May 18, 2017 by The Patriotic Millionaires, the DC Chapter of Resource Generation, and Andy Shallal, DC resident and owner of Busboys and Poets.
Eliminating the estate tax would only expand the gap between the wealthy, who have never done better, and the majority of Americans, many of whom are still struggling to get by.
Today, in response to President Trump’s trickle-down tax plan, the Patriotic Millionaires announced a vital new campaign: Defend the Estate Tax.
Pres. Trump is keeping his campaign promises, and one of them was to repeal the estate tax. But just why do his supporters hate the estate tax?
Professor Mankiw seems to be advocating for a system under which taxes are paid by people who work for a living, but not by people who get rich owning businesses that their parents and grandparents created
Members voice support for legislation that seeks to ensure a person will be judged on their abilities and contribution NOT on the economic status of their heritage.
Over the last two weeks, the national narrative has shifted dramatically regarding the House of Representatives passage of HR 1105 – legislation that aims to repeal the federal estate tax.
“Our country needs less inequality and more opportunity. Instead, we’re moving toward a society that will be economically and politically dominated by the sons and daughters of the Forbes 400.”
“Good grief, Congress. Are you really going to give another tax break to those of us who need it least?”
Patriotic Millionaires Chair Morris Pearl slammed the vote as “a return to an aristocratic elite that was rejected by the American Revolution.”
Accuse backers of “promoting a wealthy aristocracy more suited to 19th century Europe than 21st century America.”