McCormick Made His Fortune By Investing with China While Selling Out American Workers

PENNSYLVANIA — On National Be a Millionaire Day, the Pennsylvania Democratic Party is recognizing Connecticut resident and mega-millionaire David McCormick, who is struggling to connect with Pennsylvanians because of his out-of-touch record of investing with China, selling out American workers, and supporting policies that benefit wealthy corporations at the cost of working class Pennsylvanians.

Pennsylvania Democratic Party spokesperson TaNisha Cameron issued the following statement:

“Prominent Connecticut mega-millionaire David McCormick’s get rich quick tricks including laying off Pennsylvania workers, investing in Chinese military companies, and skimping on paying his fair share of taxes are the perfect playbook for anyone aspiring to make their millions by selling out American workers. And if you’re ever worried about gas prices affecting your bottom line, don’t fret — McCormick’s wife is on the board of Exxon!”

See More About McCormick’s Out of Touch Record:

David McCormick is skimping on paying taxes on his vast fortune.

• McCormick is skimping on paying taxes on millions of dollars he has put in a “dynasty trust” used by the ultra-wealthy to pass down their wealth.

• McCormick bragged to a New Hampshire crowd of Ivy League business students that he is only “spending half [his] time in Pennsylvania” and the other half with “really wealthy people.”

• McCormick supports the disastrous 2017 corporate tax giveaway that hurt Pennsylvanians.

David McCormick got rich by outsourcing jobs to China and India while laying off workers in Pennsylvania.

• As CEO of Freemarkets, McCormick laid off 50 workers in Pittsburgh – just weeks before announcing 100 new jobs in New Delhi.

• As CEO of Freemarkets, McCormick opened a new office in China.

David McCormick has enriched himself at the expense of working people. 

• McCormick badly mismanaged the retirement funds of Pennsylvania’s teachers, while he walked with millions in fees.

McCormick responded to a Pennsylvania veteran concerned with gas prices by saying his wife is “on the board of Exxon.”

McCormick said he was a farmer despite spending most of his career as the CEO of the world’s largest hedge fund.

McCormick has repeatedly lied about growing up on a family farm in Pennsylvania.

What They’re Saying About McCormick’s Out of Touch Record:

KDKA Radio:

• Host Natalie Bencivenga: The David McCormick issue, who owns homes worth millions of dollars and he’s not even here. I also found this really interesting story on Penn Capital-Star […] ‘property taxes paid late twice on McCormick’s Pittsburgh house, records show.’ So, the guy isn’t even here, probably forgot he had this property, doesn’t even pay his taxes, and yet we’re supposed to take him seriously? 

6ABC “Inside Story”:

• Panelist Sam Katz: That won’t be a hard characteristic to tag [McCormick] with. He is the head of a hedge fund. He lives in Connecticut. […] I think he’s out of touch. […] The Republican Party in Pennsylvania can’t find a Pennsylvanian to run for the United States Senate?

Bulwark Podcast:

• Josh Barro: …Dave McCormick — some voter was complaining to him about gas prices in a diner or something. He goes, ‘Oh, yeah, my wife’s on the board of Exxon,’ which is literally true. He’s like the opposite of relatable and he lives in Westport, Connecticut. 

• Tim Miller: He also pretended to be a farmer.