About Patriotic Millionaires University
Last year on a party line vote, Republican lawmakers rewrote the entire federal tax code.
The NEW REPUBLICAN TAX CODE does the following:
- Transfers more than a trillion dollars from America’s bank account into the pockets of millionaires, billionaires, CEOs and corporations;
- Rewards people who make money off investments over those who actually work for a living;
- Provides a significant financial incentive to corporations to move jobs overseas;
- Hands millions of tax free dollars to the heirs of dynastic wealth,
- Creates an easy new way for wealthy people to game the system;
- Closes virtually no loopholes. Yes, those fund managers are still “getting away with murder” (as are real estate developers and many others).
- Dismantles a key provision of ACA, the result of which will be 13 million more uninsured people and estimated 10,000 addition deaths per year.
The new Republican Tax Code is not the expression of any sort of coherent economic philosophy, it is a payoff to the donor class that will be paid for by America’s middle class.
Weeks after robbing the nation of $1.9 trillion of revenues, GOP lawmakers began using the deficit they themselves created to demand huge cuts to the Children’s Health Insurance Program, Medicare, Medicaid, Social Security, and other investments which, for decades, have protected American citizens from birth through old age, and American society from even worse levels of chaos and despair than we are currently experiencing.
We created My PMU to uncover the scam behind this bill, and to empower citizens and activists to hold the so-called “public servants” who voted for this bill accountable.
Your Professor, Morris Pearl
Morris Pearl currently serves as Chair of the Patriotic Millionaires, a group of hundreds of high-net-worth Americans who are committed to making all Americans (including themselves!) better off by 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 their fair share of taxes.
Previously, Mr. Pearl was a managing director at BlackRock, one of the largest investment firms in the world. His work included the Maiden Lane transactions and assessing governments’ potential losses from bank bailouts in the United States and in Europe. Prior to BlackRock, Mr. Pearl had a long tenure on Wall Street where he invented some of the securitization technology connecting America’s capital markets to consumers in need of credit. He is a CFA Charter Holder, a member of the CFA Institute, the New York Society of Securities Analysts, and on the board of Verified Voting and The Center for Political Accountability. Mr. Pearl lives in New York City with his wife Barbara where he enjoys spending time with his two adult sons and riding his bicycle around the city.
About the Patriotic Millionaires
Members of the Patriotic Millionaires are high-net worth Americans who share a profound concern about the destabilizing concentration of wealth and power in America. The mission of the Patriotic Millionaires is to build a more stable and prosperous nation by promoting public policies based on the “first principles” of equal political representation, a living wage for working citizens, and a fair tax system. We believe:
- Every American deserves as much political power as millionaires;
- Every American who works full time should be able to afford their basic needs ($15 federal minimum wage by 2024);
- Millionaires and corporations – who have benefitted the most from our country’s assets – should (gladly) pay more of the tab for running the country.
The group first came together in 2010 to protest President Obama’s decision to extend the “Bush tax cuts” on incomes over $1 million. Since then, the group has spoken to thousands of American voters, appeared on media outlets across the country, and met with and testified in front of hundreds of elected officials at all levels of government..