Some millionaires are fighting the good fight

[LiberalArkie]

Recently I interviewed Morris Pearl. Who is Morris Pearl? He’s the former managing director of BlackRock Inc. and chairman of the board of The Patriotic Millionaires. Previously, Pearl was a managing director at BlackRock, one of the largest investment firms in the world. He worked on the Maiden Lane transactions and assessing the government’s potential losses from the bailouts of CitiBank and AIG. He also advised Her Majesty’s treasury on the bailout of Lloyds and RBS, as well as similar projects for the Central Bank of Ireland and the Bank of Greece. Prior to BlackRock, Pearl enjoyed 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 and the New York Society of Securities Analysts.

I have been following and blogging about The Patriotic Millionaires for some time. They provided a great backstop to Mitt Romney's 47 percent moniker during the 2012 election. Who they are, what they stand for and how they intend to make a difference is very well stated.

The Patriotic Millionaires are a group of more than 200 Americans with annual incomes over $1 million and/or assets of more than $5 million who believe that the country’s current level of economic inequality is both dangerous and immoral. They recognize that while there are many causes of inequality, the current level of economic disparity is largely the result of a multi-decade effort by wealthy elites to enact legislation designed to enhance their personal wealth and their political power. This is done with little or no regard for the negative consequences such policies have on the vast majority of Americans. The Patriotic Millionaires are dedicated to reversing these policies and to ensuring that the legislative capture that led to their adoption comes to an end. To realize that goal, the Patriotic Millionaires focus on a set of issues that best illustrate the difference between legislation that serves the interests of the majority of citizens and that which enriches the few. These issues are taxes, wages and the democratic process. Members expressly support legislation that directly yields:

A fairer tax system that includes greater tax obligations for millionaires and major corporations who have benefitted the most from the nation’s resources;

Higher incomes, beginning with a minimum wage of at least $15 an hour, for wage earners, who are the foundation of our nation’s economy; and

Less political influence for those whose sole credential is the ability to pay for it.

Snip

http://www.dailykos.com/stories/2015/11/29/1454226/-Some-millionaires-are-fighting-the-good-fight