WE HAVE PASSED The World Economic Forum (WEF), which took place in Davos, Switzerland, last week, 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 in Davos’ busy agenda by giving the message “Tax the ultra-rich now”. Morris Pearl, President of Patriotic Millionaires, formed by 250 millionaires from the USA, made special statements to Hürriyet right after Davos.
Pearl, who was previously the general manager of BlackRock, one of the world’s largest investment companies, said for Davos, “It was the same as always. Participants talked about changing the world while completely ignoring the need to tax the rich more to make it happen.” Opposing the interpretation of the call “Tax the rich” as “Don Quixoteism”, Pearl said, “We are not Don Quixote. What we are fighting is not a dream; “We are fighting a real enemy and we will win in the end,” he said.
‘I’M NOT MORE Virtuous’
According to Pearl DavosThe open letter to governments in . 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 any special courage in what we do. I am not more virtuous than other millionaires,” said Pearl.
“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 are 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.”
‘NO ONE LIKES HIGH TAXES, INCLUDING ME’
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. Countries 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.
REVENUES OVER $1 MILLION
Patriotic Millionaires is known as a group with annual revenues of over $1 million or current assets of over $5 million. Morris PearlPrior to joining the group, he was the general manager of BlackRock, one of the world’s leading investment companies, and 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 estates across the USA, and Author Chuck Collins, who drew attention by donating his 500 thousand dollar inheritance at the age of 26. George Zimmer, Founder of the ready-to-wear brand Men’s Wearhouse.
SECOND BRANCH IN THE UNITED KINGDOM
Founded in the USA in 2010 Patriotic Millionaires The group has 250 members today. Pointing out that millionaires, who also took action to expand their borders, opened a branch in the United Kingdom, 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.”