Patriotic Millionaires to Romney: Patriots Pay Their Taxes, Did You? 17JUL12

PATRIOTIC MILLIONAIRES Have a lot to say about mitt romney and how he may have amassed his fortune and his ability to be "CEO" of the United States. AND they all agree he should release at least 10 years of his tax returns to the public. WE have the right to know just how he got to be so rich and if it was at the expense of the social contract that used to bind this nation together. WHAT ARE YOU HIDING MITT?????

Given that our country was founded on an argument over taxes . . .

Given that the  most potent symbol of that argument took place in Gov. Romney’s home state . . .

Given that we are in the middle of a massive public debate about taxes . . .

Given that our revenues do not adequately fund our government and our credit rating was downgraded earlier this year for the first time in history . .

Given that dozens of members of Congress would rather skip out on our bills than raise taxes . . .

Given that Gov. Romney is attempting to become ‘CEO’ of the United States but has publicly admitted he wants to invest as little in the country as possible . . .

It is patently ridiculous for ANY American politician – whether they are running for President or dog catcher – to refuse to share his tax returns with his fellow citizens. 

The Patriotic Millionaires issued a press release today which I thought you might like to see.  They came out swinging against Mitt Romney for not disclosing more of his tax returns to the American people.  Please see the Press Release below to find out what our Millionaires said.

 

FOR IMMEDIATE RELEASE
Tuesday, July 17, 2012   
CONTACT: Shruti Sehgal
ssehgal@agendaproject.org; 212-481-8304

Patriotic Millionaires

Demand Mitt Romney Release Tax Returns

Patriotic Millionaires Ask: “What is he hiding?"

New York, NY – Today, The Patriotic Millionaires demanded that presidential candidate Mitt Romney release at least 10 years of his tax returns publicly. To date, Romney has only released his 2010 tax returns and an estimate for his 2011 return.

Mitt Romney has resisted all public pressure to fully disclose his tax returns, despite multiple allegations that he made considerable use of tax havens, offshore accounts and carried interest to avoid taxes.  According to a recent ad by the Obama campaign, Mr. Romney paid less than 15 percent in taxes on $43 million in income over the last two years. 

Patriotic Millionaire and Managing Partner of InterMedia Partners Leo Hindery (NY) says:

"No one should ever be President who won’t disclose to the American people – proudly and forthrightly – how he lives as a taxpaying citizen.  Patriotism and, in every way, support of our government run hand in hand.  To whom much has been given even more is expected in terms of disclosure.”

Patriotic Millionaire and former Google Software Engineer David desJardins (CA) says:

"Mitt Romney owes a detailed explanation to the American public about how he got $100 million or more in his IRA, without illegal self-dealing.  The Individual Retirement Account is a tool for Americans to save for retirement, something most Americans desperately need.  If Romney took advantage of quasi-legal manipulations to use his IRA instead as a vehicle for hiding hundreds of millions of dollars from the IRS and avoid paying even the low 15% rate on his income, we should know how he did it and whether it was legal, or not."

Patriotic Millionaire and CEO of NuCompass Mobility Services Frank Patitucci (CA) says:

“What has he got to hide? Frankly, I'd like to know how a business owner like Mr. Romney can get by with only paying a 15% tax rate. I own a medium size business that is organized as an "S" corporation and I pay personal income tax rates of 35% on every penny the company earns.”

Patriotic Millionaire and Founder of Schottenfeld Group Richard Schottenfeld (NY) says:

"Tax fairness is the central issue in this campaign. We have the right to know how Mr. Romney conducted his own affairs before we can determine if he is fit to conduct the affairs of the American people."

 Patriotic Millionaire and Co-CEO of eScription Paul Egerman (MA) says:

“Why doesn’t Governor Romney want Americans to see his tax returns?   Perhaps, he wants to hide the truth about how little in taxes people like Mitt Romney and me have paid on many millions of dollars of income.  Or, perhaps he wants to hide the way that he’s used paper losses to get refunds on prior years’ returns.    He needs to release at least 10 years of returns.   Governor Romney should also come clean and release at least the past ten years of his Massachusetts state income tax returns to answer lingering questions about his residency.”

 Patriotic Millionaire and Principal of Zygote Ventures Jerry Fiddler (FL) says:

"Governor Romney says that his business experience has qualified him to be our President.  That's fine, if he's willing to be open about how his business and finances have worked.  He can't ask for our trust, while at the same time be unwilling to be open about how he has conducted his personal business. "

 Patriotic Millionaire and Chairman of Campus Works Inc Eric Schoenberg (NJ)  says:

"Since the Bush tax cuts of 2001 and 2003, the US federal budget deficit has exploded while the tax rates paid by wealthy Americans have shrunk to their lowest levels in over fifty years.  Even so, many rich Americans have continued to use questionable loopholes to lower their taxes even further.  From his 2010 return alone, it is obvious Governor Romney has benefited enormously from lower rates (and has proposed tax policies which would drastically reduce his own tax liabilities even further), so I think it only reasonable that the American people have the opportunity to see for themselves how he has availed himself of other loopholes by releasing at least a decade of his tax returns."

 Patriotic Millionaire and President of Grain Pro Inc Philippe Villers (MA) says:

"I don't understand why  Romney is so resistant  to disclosing his  income  tax  returns or why he  claims he wasn't part of  Bain when he  was listed as  CEO. Something doesn't  meet the eye."

 Patriotic Millionaire and former AOL Executive Charlie Fink (VA) says:

“It makes you wonder if Romney isn't releasing his tax returns because he doesn't want us to see ways he avoided paying taxes." 

 Patriotic Millionaire and Attorney Josh Kanter(VA)  says:
“Mr. Romney is running for President, not dog catcher... By running for President, Mr. Romney opens himself up to a heightened level of scrutiny. That was his choice. Now Mr. Romney owes it to the American people to disclose his tax returns and to provide sufficient information to demonstrate that he has been, and is, playing by the rules. He should voluntarily show the American people that he plays by the same rules as everyone else.”

 *The Patriotic Millionaires are available for comment and/or television and radio booking.  If you would like to speak with a Patriotic Millionaire or host one on your program, please contact Shruti Sehgal at ssehgal@agendaproject.org or 212-481-8304. 

·         The Patriotic Millionaires was formed in Fall 2010 by some of the country’s most financially successful citizens who came together to urge the President to let the Bush tax cuts expire for people making more than $1 million per year.  Now, Patriotic Millionaires for Fiscal Strength consists of more than 200 members, including:  more than a dozen current and former Google employees, actress Edie Falco of Showtime’s Nurse Jackie, the founder of Esprit, the founder of the Princeton Review, the founder of Ask.com, legendary philanthropist Michael Steinhardt, famed economist Nouriel Roubini, financial guru Andrew Tobias, top executives from Warburg, Pincus, and other major financial firms, filmmaker Abigail Disney, and many others. 

IMPORTANT FACTS ABOUT PRESIDENTS AND THEIR TAX RETURNS
 

·          So far, Mitt Romney has only released his 2010 tax returns and an estimate for his 2011 return. President Obama has released his tax returns from 2000 - 2011. President George Bush released tax returns from 2000 - 2007.

·          Mitt Romney has rejected the calls of both Democrats and Republicans like Rupert Murdoch, Mississippi Governor Haley Barbour, Alabama Governor Robert Bentley, former RNC Chair Michael Steele, ABC News' George Will and Weekly Standard Editor Bill Kristol to release more years of his tax returns. 

·          In the history of Presidential politics some candidates have released as many as 28 years of their tax returns.  President Obama has released 12 years of tax returns.

·          Mitt Romney's father, George, also released 12 years of tax return when he ran for President in 1967-68.

Freshman Republican Proposes Millionaires’ Tax 15MAR12

WOW!!!!! Rep Rick Crawford R AR is a brave man, and a honest man too! His constituents in Arkansas can be proud of him for bringing reality to the debate about the deficit, taxes, the 1% and federal government spending. From the Daily Agenda.....

 

Following the lead of the Patriotic Millionaires, Rep. Rick Crawford plans on introducing legislation next week that would impose a surtax on individuals making more than a million dollars per year. One Arkansas paper commentator noted that Crawford will surely get flack from the Grand Tax Poobah Grover Norquist, but Crawford seems to understand, unlike his conservative cohorts, that we currently have a tax crisis, not a spending problem.

PATRIOTIC MILLIONAIRES FOR FISCAL STRENGTH

CLICK the header to check out these 1%ers who are calling on congress to raise their taxes. These are people who are millionaires who recognize the vast income gap is not healthy for the nation and who accept the responsibilities they have to the social contract with the nation. And be sure to read the PMFS debate with sen orrin hatch r UT about their call for raising taxes on the rich in America.....

Only 375,000 Americans have incomes of over $1,000,000
Between 1979 and 2007, incomes for the wealthiest 1% of Americans rose by 281%
During the Great Depression, millionaires had a top marginal tax rate of 68%
In 1963, millionaires had a top marginal tax rate of 91%
In 1976, millionaires had a top marginal tax rate of 70%
Today, millionaires have a top marginal tax rate of 35%
Reducing the income tax on top earners is one of the most inefficient ways to grow the economy according to the non-partisan Congressional Budget Office
44% of Congress people are millionaires. The tax cuts were never meant to be permanent
Letting tax cuts for the top 2% expire as scheduled would pay down the debt by $700 billion over the next 10 years

Thank you Democratic members of the Super Committee and Congress,

Thank you for making the tough decisions, for understanding that no deal was the best deal for America. Thank you for listening to the constituents you serve -- not just us millionaire members, but the 99%. While the majority of Americans are suffering, and making everyday sacrifices in these hard economic times, your Republican counterparts on the Super Committee and in Congress continue to ignore the realities of failed economic policies. They care more about their pledge to Norquist than their pledge to the United States Constitution. Thank you for being patriotic in a time when the American people need you most.

Thank you,
Patriotic Millionaires and Patriotic Americans

We are writing to ask you to do the right thing for our country and REJECT ANY Super Committee deal that does not raise tax rates on incomes over $1 million to AT LEAST 39.6%, REGARDLESS of how many deductions are eliminated.

Private jets shouldn’t have been tax deductible in the first place.

Thank you,
Patriotic Millionaires and Patriotic Americans

Read Our Original Letter

We are writing to urge you to put our country ahead of politics.
For the fiscal health of our nation and the well-being of our fellow citizens, we ask that you increase taxes on incomes over $1,000,000.
We make this request as loyal citizens who now or in the past earned an income of $1,000,000 per year or more.
Our country faces a choice – we can pay our debts and build for the future, or we can shirk our financial responsibilities and cripple our nation’s potential.
Our country has been good to us. It provided a foundation through which we could succeed. Now, we want to do our part to keep that foundation strong so that others can succeed as we have.
Please do the right thing for our country. Raise our taxes.
Thank you,

On April 14th, Sen. Orrin Hatch (R-UT) commented that: "We hear this quite a bit from rich Democrats. 'Please tax us more,' they say. Well I know a lot who don't say that I'll tell you that. As the ranking member on the Senate Finance Committee I feel obligated to inform Mr. Plouffe that the president and all those rich, liberal democrats who are eager to pay higher taxes can do just that. They can write a check to the IRS and make an extra payment on their tax return to pay down the federal debt. The option is right there at the bottom of their tax return."
In response, the Patriotic Millionaires released a statement to the press saying: "A few of us voluntarily writing a check to the IRS will not fix the problem that Sen. Hatch and his colleagues created for our country with their fiscal irresponsibility. It will take the work of all Patriotic Americans to create a strong foundation for our continued prosperity. We are willing to do our part by paying higher taxes. It is clear Senator Hatch and many of his colleagues are not willing to do theirs. We challenge Senator Hatch and the other millionaire members of the Senate to put their country first and raise taxes on people like them – and us – who make more than a million dollars a year. In the meantime, if Senator Hatch would like to make a personal contribution to the IRS to help his country, we pledge to match his contribution."
The following week, the Millionaires received a letter from Sen. Hatch detailing the reasoning behind his statement. Click here to read his letter.
The Millionaires responded in kind. You can read their letter here.

One Percenter Calls For 'Enlightened Self Interest' To Avert Real Class Warfare 2DEZ11

NOT all 1%ers are greedy pigs. Some recognize the social contract they have with the nation, and know income inequality is wrong. Some of them have joined together in the group called Patriotic Millionaires For Fiscal Strength, advocating for higher taxes on the wealthy, those making over 1 million dollars a year. Typically, the repiglicans and tea-baggers response has been for these people to donate the difference between what these people pay in taxes and what they think they should be paying to the US Treasury. That is rejected by the PMFS because it doesn't fulfill the social contract obligation the rich have to the nation and would only go to subsidizing the truly greed of the 1%. Check out this call from Dan Berger on HuffPost, a millionaire, in support of higher taxes on the wealthy, and take the time to click on the link to their website. You can sign their letter to congress to raise taxes on the 1% even if you're not a millionaire!

Some conservatives complain it's class warfare to harp on income inequality and to say the rich should pay higher taxes. Philadelphia's Dan Berger, an avowed member of the richest 1 percent of Americans, says calling attention to uneven incomes is a step toward averting class warfare.
"The wealthy in this country have the biggest stake because they own the most wealth and property," said Berger, who made his millions as a trial lawyer pursuing antitrust, environmental, and civil and human rights cases. "Since they have the biggest stake, they have the biggest stake in ensuring harmonious political and social relations and conditions in society."
Berger, 64, is a major donor to liberal causes and the Democratic party, which he would like to prevail in its effort to reduce the deficit by raising taxes on millionaires such as himself. To that end, he joined a group called "Patriotic Millionaires for Fiscal Strength," which is devoted to lobbying for taxes on its own members -- the super rich.
Incomes for the wealthiest 1 percent of Americans grew faster than for any other income group over the past few decades, according to a recent report from economists at the Congressional Budget Office. From 1979 to 2007, the richest 1 percent saw their after-tax income soar by 275 percent. It grew by 65 percent for the next 19 percent, under 40 percent for the next 60 percent, and just 18 percent for the bottom fifth of taxpayers.
It's against this backdrop Congress is wrestling with how to shrink the federal budget deficit, with Republicans opposed to tax increases and Democrats against spending cuts to social programs. The Obama administration has said allowing the expiration of Bush-era tax cuts for households earning more than $250,000 would raise $866 billion over 10 years. Democrats have also pushed proposals to hike rates solely on those earning more than $1 million per year.
Berger said he sees widening income inequality as a moral wrong, but also something the well-off should worry about for more practical reasons. "In enlightened self interest you would think the wealthy would go along with [reducing economic inequality]," he said. "There are a limited number of countries you can pack up and move to in the event things get totally out of control."
He said the unrest manifested as Occupy Wall Street protests across the country represents the "tip of the iceberg" in terms of what could happen if people really get angry one day. "I do see a link between the Patriotic Millionaires and Occupy Wall Street," Berger said. "They dramatized the issue. I think just dramatizing the issue is a step forward."