What the hell is that all about?
In a new episode of our Lean to the Left podcast, Morris Pearl, a rich guy, a millionaire probably many times over, says rich people like him should pay higher taxes. Why, pray tell does he think that? Why, in fact, has he even co-authored a book that calls for “lessening inequality by taxing rich people?” The book is called “Tax the Rich! How Lies, Loopholes, and Lobbyists Make the Rich Even Richer.” Who is this guy? In his book, he writes, “I plan to do everything I can to ensure we tax people like me as substantially and effectively as possible. Because I don’t want to be a rich man in a poor country. It’s just that simple.” Morris Pearl chairs a group called Patriotic Millionaires, a group of hundreds of high-net-worth Americans who are committed to making all Americans, including themselves, better off by building a more prosperous, stable, and inclusive nation. The group’s president and founder, Erica Payne, is co-author of the book. Mr. Pearl is former managing director at BlackRock, one of the largest investment firms in the world, and he’s worth a lot of money. On the podcast, Pearl even warns that if the tax system is not made more equitable America could be in for an uprising, even a revolution, as has been experienced in other countries, including his native South Africa.
It's an interesting conversation. Check it out.