SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
US Sen. Bernie Sanders (I-Vt.) speaks to a crowd of 36,000 at a Fighting Oligarchy rally at Gloria Molina Grand Park in downtown Los Angeles on April 12, 2025.
(Photo by Genaro Molina/Los Angeles Times via Getty Images)
'Insane Economics,' Bernie Sanders Says of Musk's Trillionaire Potential
"No society can survive when one man becomes a trillionaire while the working class struggles to survive," the democratic socialist senator said.
Sep 08, 2025
US Sen. Bernie Sanders responded Monday to reporting that the board of electric carmaker Tesla is proposing a compensation package that could elevate CEO Elon Musk—already the world's richest person—from a mere multicentibillionaire to the first trillionaire in history.
Under the proposed package, which was first reported by The New York Times, Musk could add approximately $900 billion to his world-leading $435 billion fortune if Tesla's stock market value is increased to $8.5 trillion from around $1.1 trillion today.
"Another $900 billion for Elon Musk, while 60% live paycheck to paycheck?" Sanders (I-Vt.) asked in a social media post. "Really?"
"This is not only grossly immoral. It is insane economics," argued Sanders. "No society can survive when one man becomes a trillionaire while the working class struggles to survive. This cannot stand."
Another $900 billion for Elon Musk, while 60% live paycheck to paycheck? Really?This is not only grossly immoral. It is insane economics.No society can survive when one man becomes a trillionaire while the working class struggles to survive.This cannot stand.
[image or embed]
— Senator Bernie Sanders (@sanders.senate.gov) September 8, 2025 at 8:57 AM
Sanders—whose "Fighting Oligarchy" tour has drawn huge crowds from coast to coast—has been an outspoken critic of the policies and practices of both major parties under which the rich, and especially the ultrarich, have grown wealthier at the expense of working-class Americans.
"What you are seeing now is an oligarchy with enormous economic power and political power in both political parties," Sanders said at a Saturday rally in Brooklyn for progressive Democratic New York City mayoral nominee Zohran Mamdani. "What we are here tonight to say is, to hell with you. We are going to take you on!"
US economic inequality has been exacerbated by the policies of the Trump administration and congressional Republicans. Although President Donald Trump campaigned on promises to "make America affordable again," upon returning to office he invited Musk to help gut the federal government and has pursued a pro-billionaire agenda under which critical social programs are being sacrificed upon the altar of multitrillion-dollar tax breaks for corporations and oligarchs.
An analysis published last week by the nonpartisan Congressional Budget Office affirmed that the One Big Beautiful Bill Act signed by Trump in July will increase the wealth of the richest 10% of US households by $13,600 annually—largely due to tax cuts—while simultaneously taking about $1,200 annually from the poorest 10% of households, mainly due to cuts in programs including Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Earlier this month, Americans turned out in cities and towns across the nation for more than 1,000 "Workers Over Billionaires" Labor Day rallies "to reclaim worker power against billionaires who hoard unprecedented wealth and power."
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
bernie sandersbillionairescongressional budget officedonald trumpelon muskfighting oligarchyone big beautiful bill acttaxationteslatrillionaireszohran mamdaniinequality
US Sen. Bernie Sanders responded Monday to reporting that the board of electric carmaker Tesla is proposing a compensation package that could elevate CEO Elon Musk—already the world's richest person—from a mere multicentibillionaire to the first trillionaire in history.
Under the proposed package, which was first reported by The New York Times, Musk could add approximately $900 billion to his world-leading $435 billion fortune if Tesla's stock market value is increased to $8.5 trillion from around $1.1 trillion today.
"Another $900 billion for Elon Musk, while 60% live paycheck to paycheck?" Sanders (I-Vt.) asked in a social media post. "Really?"
"This is not only grossly immoral. It is insane economics," argued Sanders. "No society can survive when one man becomes a trillionaire while the working class struggles to survive. This cannot stand."
Another $900 billion for Elon Musk, while 60% live paycheck to paycheck? Really?This is not only grossly immoral. It is insane economics.No society can survive when one man becomes a trillionaire while the working class struggles to survive.This cannot stand.
[image or embed]
— Senator Bernie Sanders (@sanders.senate.gov) September 8, 2025 at 8:57 AM
Sanders—whose "Fighting Oligarchy" tour has drawn huge crowds from coast to coast—has been an outspoken critic of the policies and practices of both major parties under which the rich, and especially the ultrarich, have grown wealthier at the expense of working-class Americans.
"What you are seeing now is an oligarchy with enormous economic power and political power in both political parties," Sanders said at a Saturday rally in Brooklyn for progressive Democratic New York City mayoral nominee Zohran Mamdani. "What we are here tonight to say is, to hell with you. We are going to take you on!"
US economic inequality has been exacerbated by the policies of the Trump administration and congressional Republicans. Although President Donald Trump campaigned on promises to "make America affordable again," upon returning to office he invited Musk to help gut the federal government and has pursued a pro-billionaire agenda under which critical social programs are being sacrificed upon the altar of multitrillion-dollar tax breaks for corporations and oligarchs.
An analysis published last week by the nonpartisan Congressional Budget Office affirmed that the One Big Beautiful Bill Act signed by Trump in July will increase the wealth of the richest 10% of US households by $13,600 annually—largely due to tax cuts—while simultaneously taking about $1,200 annually from the poorest 10% of households, mainly due to cuts in programs including Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Earlier this month, Americans turned out in cities and towns across the nation for more than 1,000 "Workers Over Billionaires" Labor Day rallies "to reclaim worker power against billionaires who hoard unprecedented wealth and power."
US Sen. Bernie Sanders responded Monday to reporting that the board of electric carmaker Tesla is proposing a compensation package that could elevate CEO Elon Musk—already the world's richest person—from a mere multicentibillionaire to the first trillionaire in history.
Under the proposed package, which was first reported by The New York Times, Musk could add approximately $900 billion to his world-leading $435 billion fortune if Tesla's stock market value is increased to $8.5 trillion from around $1.1 trillion today.
"Another $900 billion for Elon Musk, while 60% live paycheck to paycheck?" Sanders (I-Vt.) asked in a social media post. "Really?"
"This is not only grossly immoral. It is insane economics," argued Sanders. "No society can survive when one man becomes a trillionaire while the working class struggles to survive. This cannot stand."
Another $900 billion for Elon Musk, while 60% live paycheck to paycheck? Really?This is not only grossly immoral. It is insane economics.No society can survive when one man becomes a trillionaire while the working class struggles to survive.This cannot stand.
[image or embed]
— Senator Bernie Sanders (@sanders.senate.gov) September 8, 2025 at 8:57 AM
Sanders—whose "Fighting Oligarchy" tour has drawn huge crowds from coast to coast—has been an outspoken critic of the policies and practices of both major parties under which the rich, and especially the ultrarich, have grown wealthier at the expense of working-class Americans.
"What you are seeing now is an oligarchy with enormous economic power and political power in both political parties," Sanders said at a Saturday rally in Brooklyn for progressive Democratic New York City mayoral nominee Zohran Mamdani. "What we are here tonight to say is, to hell with you. We are going to take you on!"
US economic inequality has been exacerbated by the policies of the Trump administration and congressional Republicans. Although President Donald Trump campaigned on promises to "make America affordable again," upon returning to office he invited Musk to help gut the federal government and has pursued a pro-billionaire agenda under which critical social programs are being sacrificed upon the altar of multitrillion-dollar tax breaks for corporations and oligarchs.
An analysis published last week by the nonpartisan Congressional Budget Office affirmed that the One Big Beautiful Bill Act signed by Trump in July will increase the wealth of the richest 10% of US households by $13,600 annually—largely due to tax cuts—while simultaneously taking about $1,200 annually from the poorest 10% of households, mainly due to cuts in programs including Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
Earlier this month, Americans turned out in cities and towns across the nation for more than 1,000 "Workers Over Billionaires" Labor Day rallies "to reclaim worker power against billionaires who hoard unprecedented wealth and power."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.