Yesterday, The Center for Political Accountability announced that Chair of the Patriotic Millionaires Morris Pearl has joined their Board of Directors. Pearl brings career experience and a commitment to reforming the influence of money in politics to this already established board.
Let’s look into exactly what liberties the Consumer Financial Protection Bureau is ‘denying’ American consumers.
Yesterday, at Cleveland Public Square just outside the Republican National Convention, Chair of the Patriotic Millionaires Morris Pearl joined by Republican political strategist John Pudner of Take Back Our Republic to discuss campaign finance reform.
Very few of these business owners are invited to testify before a congressional committee that can take action about their complaints. The individuals who are granted the opportunity to argue their case before Congress often have one thing in common: they are wealthy political donors.
Maybe each of the above situations is a violation of the Hobbs Act. Maybe none of them are. The difficult thing is that we don’t really have a law against political corruption.
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.
A step towards granting everyday Americans the knowledge that their votes will not be outweighed by the dark money of corporations, special interests, and lobbyists.
So here is what I think we as a nation need to admit we have experienced of late: They don’t work for us anymore! Congress, the 535 elected officials chosen to do the bidding of their constituents, have slowly turned their backs on the people and instead gone where the money leads them.
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.
We would expect a more serious analysis from the largest newspaper in the Wisconsin, but they missed the fundamental issue.
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?
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.
I say to all of the legislators who are backing HR 4018, the Orwellian named Consumer Protections and Choice Act: States should be allowed to impose additional restrictions on lenders (including licensing requirements) but the federal government must establish a nationwide minimum standard which which all payday lenders must adhere.
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.
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.
Regular people all over America are keenly aware of the corrupting influence of money in politics. They are rightfully angry. The DNC just gave them one more reason for their anger.
Does the United States Congress think that big companies should be able to spend money on politics, secretly?
Just donate a few tens of thousands of dollars to a Senator and then when he reaches out to extend his thanks, explain to him the grave injustice to which the bank is subjecting you to, and explain how it could all be made right by just adding one harmless little non-controversial paragraph to the Trust Indenture Act.
Please read a new op-ed by Patriotic Millionaire Chairperson Morris Pearl, former Managing Director of BlackRock Inc., titled “Tax Plan Proves Billionaire Populist Really Just a Billionaire” in The Hill.
Patriotic Millionaires reiterated their call to end the carried interest loophole which allows hedge fund managers to pay capital gains rates on income that should be taxed as ordinary income, just hours after President Obama called for its closure