Who are the dollar millionaires who say take more taxes from us?

The World Economic Forum (WEF), which took place in Davos, Switzerland in January 2023, was marked by the letter of the wealthy who defined themselves as Patriotic Millionaires. Millionaires, including Disney's heir Abigail Disney and famous actor Mark Ruffalo, drew attention to Davos' busy agenda by giving the message "Tax the ultra-rich immediately".

Patriotic Millionaires is a nonpartisan organization of Americans with high net worth who promote the restructuring of the American tax system so that wealthy people pay a greater share of their income in taxes. Patriotic Millionaires was founded in 2010 by Erica Payne to advocate for expiration of the Bush tax cuts. Qualification for membership requires either $1 million in annual income, or more than $5 million in assets.

Morris Pearl, President of Patriotic Millionaires, formed by 250 millionaires from the USA, was previously the general manager of BlackRock, one of the largest investment companies in the world.

According to Pearl, the open letter sent to governments at Davos will not receive an immediate response. However, they believe that the letter will play a supportive role in the progress of the dialogue in this process. “I don't think it takes special courage in what we do. I am not more virtuous than other millionaires,” said Pearl.

Patriotic Millionaires was originally founded in 2010 by Erica Payne under the name "Patriotic Millionaires for Fiscal Strength". Its purpose was to push for an expiration of the Bush tax cuts during the Presidency of Barack Obama.

“I believe paying more taxes means my children and grandchildren will live in a better world. That's a price I'm willing to pay. The poor who struggle the most in difficult economic processes is the first to lose their jobs. The relief to be experienced in the economy is not for rich people like me; We must ensure that it is directed to those who really need it.”

Pearl, giving the message of “Tax the rich” to developing countries, said, “Inequality is not just injustice; It is also bad for economic growth and stability. Governments are much better off when the rich pay their fair share. I invite millionaires in other countries to think long-term. No one likes to pay high taxes, myself included, but these taxes ultimately create a more livable society. It is much better to be rich in a developing country than to be rich in a poor country.

Patriotic Millionaires is known as a group with annual revenues of over $1 million or current assets of over $5 million. Prior to joining the group, Morris Pearl was the general manager of BlackRock, one of the world's leading investment companies, and he previously worked on Wall Street for a long time. Among the leading names of the group are Disney Crown Prince Abigail Disney and Tim Disney, Lawrence Benenson, Manager of Benenson Capital, an asset and real estate management company that was founded in 1905 and has a portfolio of 115 real estate across the USA, Writer Chuck Collins, who drew attention by donating his $ 500 thousand inheritance at the age of 26. George Zimmer, Founder of the ready-to-wear brand Men's Wearhouse.

Founded in the USA in 2010, the Patriotic Millionaires group has 250 members today. Stating that millionaires, who also took action to expand their borders, opened a branch in the UK, Pearl said, “Fair taxation should be carried out not only in one country but in cooperation all over the world. In this sense, we hope to continue to expand in other countries besides the UK.”