April, 17 2018, 12:00am EDT
![Patriotic Millionaires](https://assets.rbl.ms/32012612/origin.jpg)
In New Book, Former BlackRock Exec Reveals How GOP Tax Scam Robs Middle Class and Rewards Wealthy
This Tax Day, author and reformed financier Morris Pearl sets the record straight on current tax policy and the GOP’s new tax law.
WASHINGTON
How can a working person who earns $77,000 in income pay $6,000 in taxes while a "millionaire sitting on a beach sipping strawberry daiquiris" pay zero on their $77,000 capital gains? Former Blackrock executive Morris Pearl answers this question and many more about the impacts of the GOP tax plan in his new book, How to Think Like a Patriotic Millionaire: Taxes, published by Patriotic Millionaires and Strong Arm Press.
"I want to challenge my fellow millionaires to get their heads out of the sand," Pearl writes in the book. "I'd rather fix things than retreat into a gated community with a private security force while the world outside the gates falls apart. You are destroying the country, our country, my country, and I'm not going to stand for it."
Pearl's book offers a devastating critique of how the GOP tax plan is set to throw our tax policy even further out of whack and enrich the fortunate few at the expense of working Americans. Though control of Congress may hinge on voters' views of the legislation in November, few Americans understand current tax policy or what to expect under the new tax law.
The Trump Administration and Republicans in Congress have promised that their tax bill would bring big benefits to working families and small businesses - lowering taxes, creating jobs, and growing the economy. As Pearl's book makes clear, this is the exact opposite of the truth. The tax bill instead represents a massive transfer of wealth from working people to the fortunate few.
Despite the millions already spent by the Koch brothers and other conservative groups to sell the legislation, voters in bellwether special elections haven't been fooled. Just yesterday, the legislation's chief architect - House Speaker Paul Ryan - announced he won't seek reelection in the face of a strong challenge by iron worker Randy Bryce.
Now, Pearl and the Patriotic Millionaires intend to carry the truth about the GOP tax plan to voters in battleground states through Election Day.
The book will be unveiled on Tax Day at an event in Washington, DC, featuring elected leaders like House Minority Leader Nancy Pelosi, U.S. Rep. Mark Pocan, and progressive champions like Jeff Weaver, former campaign manager for Bernie Sanders.
WHO: Patriotic Millionaires, Members of Congress, progressive allies
WHAT: Taxation & Libations book release party
WHEN:April 17, 6:30 - 8:30 PM
WHERE: Pearl Street Warehouse, The Wharf, 33 Pearl St SW, Washington, DC
To RSVP for the event or to obtain a copy of the book, contact Sam Quigley at sam@patrioticmillionaires.org.
In How to Think Like a Patriotic Millionaire: Taxes, Pearl - a self-proclaimed traitor to his class - sets the record straight, detailing how tax policy is designed to reward money over work and how the new tax bill will make it even harder for those who work to get ahead. Drawing on his experience as a former BlackRock executive, Pearl explains how a millionaire could make thousands off their investments without logging a single day at the office, while a working person would pay thousands in taxes on the same earnings from a full-time job.
The book calls attention to many of the high-profile millionaires and billionaires who have pushed for changes to the tax code that further disadvantage working people, including:
- David Rubenstein of the Carlyle Group, who has defended the carried interest loophole and - after donating money to repair the Washington Monument - scratched his initials into the marble.
- LinkedIn and PayPal exec Keith Rabois, who threatened to quit venture capital if the carried interest loophole were closed.
- Apple CEO Tim Cook, who avoided paying $40 billion in taxes by 'cooking' the books in Ireland.
- AT&T CEO Randall Stephenson, who cut thousands of jobs despite paying just an 8% tax rate - all while using the promise of job growth to push for more corporate tax cuts.
The book will be published by Strong Arm Press, which was founded in 2017 to be a progressive publishing house responsive to readers who want books to fuel and inform their increasingly active approach to politics.
Pearl serves as Chair of the Patriotic Millionaires, an organization of high-net worth Americans, business leaders, and investors working to disrupt the concentration of wealth and power in America. Their mission is to build a more stable, prosperous, and inclusive nation by promoting equal political representation, a guaranteed living wage for all working citizens, and a fair tax system.
The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country's political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three "first" principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.
(202) 446-0489LATEST NEWS
Critics Warn Manchin-Barrasso Permitting Bill 'Is Taken Straight From Project 2025'
"You thought Project 2025 was just a threat after the election? It's actually happening *right now,*" said one climate campaigner.
Jul 26, 2024
Climate and environmental defenders on this week implored U.S. senators to block a permitting reform bill introduced this week by Sens. Joe Manchin and John Barrasso that one campaigner linked to Project 2025, a conservative coalition's agenda for a far-right overhaul of the federal government.
Common Dreamsreported Monday that Manchin (I-W.Va.) and Barrasso (R-Wyo.)—respectively the chair and ranking member of the Senate Energy and Natural Resources Committee—introduced the Energy Permitting Reform Act of 2024.
The Natural Resources Defense Council (NRDC) noted that although the proposal "includes several positive reforms for the accelerated development of transmission projects," it also advocates "limiting opportunities for communities to challenge projects, loosening oversight for drilling and mining projects, extending drilling permits and fast-tracking [liquified natural gas] permits, and several other provisions friendly to fossil fuel giants."
"This dangerous bill doesn't deserve a floor vote."
These are nearly identical policies to what's proposed in Project 2025's Mandate for Leadership. The plan, which was spearheaded by the Heritage Foundation, calls for "unleashing all of America's energy resources," including by ending federal restrictions on fossil fuel drilling on public lands; limiting investments in renewable energy; and rolling back environmental permitting restrictions for new oil, gas, and coal projects, including power plants.
While Manchin has been trying—and failing—to pass fossil fuel-friendly permitting reform legislation for years, Brett Hartl, director of public affairs at the Center for Biological Diversity, said that his "Frankenstein legislation is taken straight from Project 2025, and it's the biggest giveaway in decades to the fossil fuel industry."
Hartl said the bill "deprives communities of the power to defend themselves and gives that power to Big Oil by making it harder for communities to challenge polluting projects in court," and "prioritizes the profits of coal barons over public health."
"And it mandates oil and gas extraction in our oceans," he continued. "The insignificant crumbs thrown at renewable energy do nothing to address the climate emergency."
"Monday was the hottest day in recorded history," Hartl noted. "It's shocking that as the climate emergency continues to break records around us, the Senate continues to fast-track the fossil fuel expansion that is killing us. This dangerous bill doesn't deserve a floor vote."
Hartl added that "to preserve a livable planet," Senate Majority Leader Chuck Schumer (D-N.Y.) "must squash this legislation now."
Manchin—who has said this will be his last term in office—has been a steadfast supporter of the fossil fuel industry, partly because his family owns a coal company. The senator says his permitting reform bill "will advance American energy once again to bring down prices, create domestic jobs, and allow us to continue in our role as a global energy leader."
However, Allie Rosenbluth, Oil Change International's U.S. manager, warned Thursday that "this bill is yet another dangerous attempt by Sen. Manchin to line the pockets of his fossil fuel donors, sacrificing communities and our climate along the way."
"Don't be fooled: The Energy Permitting Reform Act is another dirty deal to fast-track fossil fuels above all else," she continued. "It would unleash more drilling on federal lands and waters, unnecessarily rush the review of proposed oil and gas export projects, and lift the Biden administration's pause on new LNG exports."
"We urge Congress to reject this proposal and commit to action that protects frontline communities from the impacts of fossil fuel development and the climate crisis," Rosenbluth added.
"Don't be fooled: The Energy Permitting Reform Act is another dirty deal to fast-track fossil fuels above all else."
NRDC managing director of government affairs Alexandra Adams said Wednesday that "this bill is a giveaway for the oil and gas industry that will ramp up drilling and environmental destruction at a time when we need to be putting a hard stop to fossil fuels."
"We cannot afford to roll back so many of our bedrock environmental and community legal protections and offer a blank check to the oil and gas industry," she stressed. "We need new solutions for permitting if we are going to meet our clean energy potential and address the climate challenge. But this is not it."
"This bill would altogether be a leap backward on climate, health, and justice if passed into law," Adams added. "The Senate should reject it and look toward alternative solutions already being considered."
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'Nothing To Eat': War-Torn Sudan Faces Mass Famine as Military Delays Aid
Both parties in Sudan's civil war are to blame for a looming mass famine, experts say, and the military's blocking of U.N. aid at a border crossing with Chad exacerbates the problem.
Jul 26, 2024
Sudan's military is blocking United Nations aid trucks from entering at a key border crossing, causing severe disruptions in aid in a country that experts fear may be on the brink of one of the worst famines the world has seen in decades, The New York Timesreported Friday.
The border city of Adré in eastern Chad is the main international crossing into the Darfur region of Sudan, but the Sudanese Armed Forces (SAF), the state's official military, which is engaged in a civil war with a paramilitary group called the Rapid Support Forces (RSF), has refused to issue permits for U.N. trucks to enter there, as it's an RSF-controlled area.
U.S. and international officials have issued increasingly alarmed calls for steady aid access to help feed the millions of severely malnourished people in Darfur and other areas of Sudan.
Last week, Linda Thomas-Greenfield, the United States ambassador to the U.N., said that the SAF's obstruction of the border was "completely unacceptable."
Both warring parties in Sudan continue to perpetrate brazen atrocities, including starvation of civilians as a method of warfare. This piece focuses on the SAF's ongoing obstruction of essential aid. The situation is catastrophic. The policy is criminal. https://t.co/FKhqQh3EI9.
— Tom Dannenbaum (@tomdannenbaum) July 26, 2024
The Sudanese who've made it out of the country and into Adré reported dire and unsafe conditions in their home country.
"We had nothing to eat," Bahja Muhakar, a Sudenese mother of three, told the Times after she crossed into Chad, following a harrowing six-day journey from Al-Fashir, a major city in Darfur. She said the family often had to live off of one shared pancake per day.
Another mother, Dahabaya Ibet, said that her 20-month-old boy had to bear witness to his grandfather being shot and killed in front of his eyes when the family home in Darfur was attacked by gunmen late last year.
Now the mothers and their families are refugees in Adré, where 200,000 Sudanese are living in an overcrowded, under-resourced transit camp.
In addition to those that have made it out of the country, there are 11 million people internally displaced within Sudan, most of whom have become displaced since the civil war began in April 2023.
An unnamed senior American official told the Times that the looming famine in Sudan could be as bad as the 2011 famine in Somalia or even the great Ethiopian famine of the 1980s.
In April, Reutersreported that people in Sudan were eating soil and leaves to survive, and The Washington Postcalled it a nation in "chaos," reporting that World Food Program trucks had been "blocked, hijacked, attacked, looted, and detained."
In late June, a coalition of U.N. agencies, aid groups, and governments warned that 755,000 people in Sudan faced famine in the coming months.
The U.S. last week announced $203 million in additional aid to Sudan—part of a $2.1 billion pledge that world leaders made in April, which some countries have not yet delivered on.
Some officials including Thomas-Greenfield, who has dubbed the situation in Sudan "the worst humanitarian crisis in the world," have called for the U.N. Security Council to allow aid delivery into the country even in the absence of SAF approval; it's believed that Russia would veto such a measure.
Sudan's civil war has seen a great deal of international interference. Amnesty International on Thursday published an investigatory briefing showing that weapons from Russia, China, Serbia, Turkey, Yemen, and the United Arab Emirates (UAE) had been identified in the country. And The Guardian on Friday reported that the passports of Emirati citizens had been found among wreckage in Sudan, indicating the UAE may have troops or intelligence officers on the ground, though the UAE denied the accusation.
The International Service for Human Rights on Friday warned that both the SAF and RSF were engaged in wrongful killings and arrests, especially targeted at lawyers, doctors, and activists. The group called for an immediate cease-fire.
The SAF and Sudanese government figures have cast doubt on international experts' claims about famine in the country.
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JD Vance Doubles Down on Attack on 'Childless Cat Ladies'
Vance "meant no disrespect to cats, but he did mean to demean women and still holds the view in 2024 that they should be punished for not having children."
Jul 26, 2024
After days of condemnation from critics including actress Jennifer Aniston and Transportation Secretary Pete Buttigieg, U.S. Sen. JD Vance was given the opportunity on Thursday to clarify his remarks from 2021 in which he said the Democratic Party was run by "childless cat ladies."
Instead, the Ohio Republican and running mate of former President Donald Trump assured SiriusXM host Megyn Kelly on "The Megyn Kelly Show" that while he has "nothing against cats," he meant what he said in terms of "the substance" of his argument.
Vance made it clear, said Aaron Fritschner, deputy chief of staff for Rep. Don Beyer (D-Va.), "that he meant no disrespect to cats, but he did mean to demean women and still holds the view in 2024 that they should be punished for not having children."
The comments in question were made by Vance to then-Fox News host Tucker Carlson when Vance was running for the Senate.
Calling out Buttigieg—who, the secretary disclosed this week, was struggling at the time to adopt a child with his husband—and Vice President Kamala Harris, a stepmother of two and the Democratic Party's presumptive presidential nominee, Vance said people without biological children "don't really have a direct stake in" the future of the country and therefore shouldn't hold higher office.
In separate remarks that same year, Vance said parents should "have more power" at the voting booth and that "if you don't have as much of an investment in the future of this country, maybe you shouldn't get nearly the same voice."
He also specifically categorized people who don't have children as "bad" in an interview in 2021, saying the government should "reward the things that we think are good" and "punish the things that we think are bad," with people taxed at a lower rate if they have children.
While a spokesperson for Vance told ABC News that the senator's taxation proposal was "basically no different" than the child tax credit supported by the Democratic Party, Democrats who have pushed for the credit have heralded its proven ability to slash child poverty rates and help families afford groceries, childcare, and other essentials, rather than viewing the tax savings as a way to reward people for procreating.
In his interview with Kelly on Thursday, Vance attempted to pivot away from his own comments, saying his point was to criticize "the Democratic Party for becoming anti-family and anti-child" and claiming without evidence that the Harris campaign had "come out against the child tax credit"—a signature policy of the Biden-Harris administration.
"I'm proud to stand for parents and I hope that parents out there recognize that I'm a guy who wants to fight for you," said Vance. "The Democrats, in the past five, 10 years, Megyn, they have become anti-family. It's built into their policy, it's built into the way they talk about parents and children. I don't think we should back down from it, I think we should be honest about the problem."
Vance and Kelly went on to lament the anxiety "hardcore environmentalists" and progressive lawmakers such as Rep. Alexandria Ocasio-Cortez (D-N.Y.) have expressed about the damage fossil fuel extraction is doing the planet, accusing them of pushing people to forgo having families—but said nothing about Republican policies that have made child-rearing less accessible.
In recent years, the entire Republican caucus in Congress was joined by conservative then-Democratic Sen. Joe Manchin of West Virginia in blocking the extension of the enhanced child tax credit, which had been credited with cutting the national child poverty rate in half. Republicans also allowed a pandemic-era universal school meal program to expire, while several Democratic-led states have passed state-level programs to ensure all children can have meals at school, regardless of their family's income.
Under Republican abortion bans, numerous stories have cropped up of pregnant people who have been forced to carry pregnancies to term despite finding out that their fetuses had fatal abnormalities and would die soon after birth—as have stories of children who were forced to give birth or had to cross state lines in order to get abortion care.
As with his position that nonparents should be "punished" for not having children, "who else does 'pro-child/family' Vance think should 'face consequences and reality' by way of curtailing choices, rights, and freedoms?" asked writer Alheli Picazo. "Women and girls who become pregnant through rape/incest."
University of North Carolina law professor Carissa Byrne Hessick said that one could test "empirically" Vance's claim that Democratic policies are anti-family.
"But I haven't heard the GOP talk much about things that would help my family and my kids," she said, "like reducing childcare and tuition costs."
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