November, 20 2024, 03:49pm EDT

The Revolving Door Project Criticizes Nomination of Linda McMahon as Secretary of Education
In response to President-elect Trump’s announcement that he will nominate Linda McMahon as Secretary of Education, The Revolving Door Project Executive Director, Jeff Hauser released the following statement:
“It is my sad prediction that this nomination will be bad for the future of America, but my hope that people across the political spectrum will take from McMahon's inevitable failure the conclusion that the skills that can make one mind bogglingly rich in the private sector do not make you qualified for jobs at the pinnacle of public service.”
Revolving Door Project Senior Researcher Christopher Lewis added:
“Donald Trump's nominee for Education Secretary is reflective of his incoming administration’s fondness of the corrupt corporate revolving door. Through influence peddling and toadying, McMahon has managed to turn a scandal-ridden career into a stint atop the Small Business Administration, and now the Department of Education. While at the SBA, McMahon did nothing but cheer on tax cuts and mishandle agency funds. For this lackluster performance, McMahon is being promoted to yet another job for which she lacks the credentials to serve.”
“If one wants to see what a Department of Education would look like under Linda McMahon, they need look no further than the America First Policy Institute that she chairs where they have promoted school choice, attacked DEI efforts and even attacked teacher’s unions. This is a sad day for America's students, educators and parents.” Lewis concluded.
Journalists interested in The Revolving Door Project’s research on McMahon are encouraged to reach out to Research Director Christopher Lewis via email lewis@therevolvingdoorproject.org
The Revolving Door Project (RDP) scrutinizes executive branch appointees to ensure they use their office to serve the broad public interest, rather than to entrench corporate power or seek personal advancement.
LATEST NEWS
‘Pretty Explicit White Nationalism’: Trump National Security Strategy Document Leaves Critics Aghast
One critic described the document as "a pretty explicit defense of using the state as a means of enforcing white supremacy."
Dec 05, 2025
The Trump administration on Thursday released its official National Security Strategy, and many critics noted that it was loaded with rhetoric frequently used by white nationalists.
Some of the most inflammatory rhetoric in the document is aimed at US-allied European countries that supposedly face "the real and more stark prospect of civilizational erasure" within the next 20 years.
In particular, the document accuses the European Union of enacting policies "that undermine political liberty and sovereignty, migration policies that are transforming the continent and creating strife, censorship of free speech and suppression of political opposition, cratering birthrates, and loss of national identities and self-confidence."
The document goes on to claim that "should present trends continue, the continent will be unrecognizable in 20 years or less," while emphasizing that US policy is to help "Europe to remain European, to regain its civilizational self-confidence, and to abandon its failed focus on regulatory suffocation."
Jon Henley, Europe correspondent for the Guardian, noted in a Friday report that the document "appears to espouse the racist 'great replacement' conspiracy theory, saying several countries risk becoming 'majority non-European.'" Henley added that the document "underscores the Trump administration's clear alignment with Europe’s far-right nationalist parties, whose policies centre on attacking supposed EU overreach and excessive non-EU migration."
Scott Horton, legal affairs and national security contributor to Harper's and an adjunct professor at Columbia Law School, wrote on Bluesky that the document "reads like something written by Vladimir Putin," given its depiction of Europe as being "degenerate and... racially adulterated through the in-migration of dark-skinned people."
Progressive activist Max Berger argued that the document "contains some pretty explicit white nationalism." He pointed to the document's support for dismantling diversity, equity, and inclusion (DEI) initiatives as a way to restore "a culture of competence."
Berger also flagged a section in the document that named "ending mass migration" as the top US national security priority, which he described as "a pretty explicit defense of using the state as a means of enforcing white supremacy."
Edmund Luce, a columnist for the Financial Times, also took note of the administration's emphasis on "competence and merit" in the document. This is ironic, Luce continued, because "this administration personifies the opposites" of those traits.
Journalist Michael Weiss argued in a post on X that the document shows that it is now official US policy to promote and assist far-right parties in Europe.
"[US Vice President] JD Vance's intervention in Germany's election, on behalf of [far-right party Alternative für Deutschland], was not a one-off," he wrote. "It is now ingrained in the U.S. National Security Strategy... Europe is be treated as enemy terrain to be destabilized by America's enabling of far-right parties."
Keep ReadingShow Less
Global System 'Rigged for the Wealthy' Delivers World With 'More Billionaires Than Ever'
New annual report on "ambitions" of billionaires by wealth management giant UBS shows just 2,919 individuals have a combined wealth of $15.8 trillion.
Dec 05, 2025
A new assessment by the international wealth management giant UBS this week shows that the number of billionaires in the world has reached new heights and that the acceleration of inherited wealth represents a new chapter for the ultra-rich in the 21st Century.
The latest UBS Billionaire Ambitions Report, unveiled Thursday, details how just 2,919 individual billionaires have a combined wealth of $15.8 trillion. The number of billionaires in the world is up nearly 9 percent from the previous year. In the United States—where nearly a third of those on the list reside—924 billionaires hold a collective $6.9 trillion in wealth.
The assessment by UBS—which surveyed its own billionaire clients as part of the survey, now its eleventh edition—emphasizes a surge of inherited wealth among the billionaire class. According to the report:
In 2025, 91 heirs (64 of them male and 27 female) inherited a record USD 297.8 billion. That’s 36% more than in 2024, despite fewer people inheriting overall. Globally, inheritance bolstered the number of multigenerational billionaires, with some 860 multi-generational billionaires now overseeing total assets of USD 4.7 trillion. That’s up from 805 with USD 4.2 trillion in 2024.
Across the world, multi-generational billionaires are slowly extending down the generations, with the number of second-generation billionaires growing by 4.6% in the 2025 report, the number of third generation
by 12.3%, and the number of fourth generation and beyond by 10%.
The growing number of billionaires, including a rapidly increasing share who inherited their wealth rather than generating it themselves, says UBS, "heralds a new era" for the ultra-rich as "the great wealth transfer is intensifying as heirs inherit more than ever before.
The coming decades, the report notes, "will see growing numbers of billionaires and centi-millionaires as the Great Wealth Transfer continues to accelerate. Billionaires are estimated to transfer approximately USD 6.9 trillion of wealth globally by 2040, with at least USD 5.9 trillion set to be passed to children—either directly or indirectly through spouses."
Of the $6.9 trillion currently held by US billionaires, the report estimates that $2.8 trillion of that wealth will be passed down to heirs over the next 15 years.
"The world has more billionaires than ever because of a system that’s broken for workers and rigged for the wealthy and CEOs who already make 285 times what workers do," said the AFL-CIO in response to the report.
The union federation says that organized workers winning better collective bargaining is the first step needed to "level the playing field" for working people, while others see the surging fortunes of the ultra-wealthy as just more evidence that taxing the rich must remain at the top of the economic and political agenda both at the national level and internationally.
With the UBS report showing that 91 of the new billionaires created this year arrived at their financial status through inheritance, Hal Singer, economics professor at the University of Utah, said, "That's 91 additional reasons for a wealth tax."
Keep ReadingShow Less
Outrage Grows as Trump Admin Quietly Weighs New 'Tax Windfall for the Biggest Corporations'
"Apparently the Trump administration thinks the trillions they spent on tax cuts for the wealthy wasn't enough."
Dec 05, 2025
The Trump administration's quiet effort to deliver billions more in tax breaks to some of the largest companies in the United States drew fresh scrutiny and outrage this week, with Democratic members of Congress warning that a series of obscure regulatory changes could further undermine efforts to rein in corporate tax dodging.
In a letter to the US Treasury Department unveiled Thursday, Sen. Elizabeth Warren (D-Mass.) and Rep. Don Beyer (D-Va.) led a group of lawmakers in denouncing the Trump administration's assault on the corporate alternative minimum tax (CAMT), a Biden-era measure that requires highly profitable US corporations to pay a tax of at least 15% on their book profits—the numbers reported to shareholders.
"The Trump administration has consistently chipped away at CAMT to further corporate interests," the lawmakers wrote, pointing to rules issued in recent months exempting many corporations from the tax.
"But these massive giveaways apparently aren’t enough for billionaire corporations and their lobbyists, which are trying to further undermine CAMT," the lawmakers continued.
The Democratic lawmakers, who were joined by Sen. Bernie Sanders (I-Vt.), specifically warned against an ongoing corporate push for a carveout to a research and experimentation (R&E) tax break included in the Trump-GOP budget law enacted over the summer.
Corporations supported the R&E tax break. But as the Wall Street Journal reported last month, the giveaway is driving some companies' "regular taxes down so far that they are pushed into CAMT."
"This is exactly what CAMT was designed to do, the tax’s defenders say," the Journal noted. "Companies are pressing the Treasury Department for relief, particularly on the way that CAMT limits the deduction for research expenses. The National Association of Manufacturers, the R&D Coalition, and the National Foreign Trade Council sent letters urging the administration to write rules that would be favorable to companies."
The Treasury Department and Internal Revenue Service are reportedly considering the corporate proposal.
Such a change, Democratic lawmakers warned in their new letter, "egregiously circumvents Congress' intent to set a floor on corporations’ tax liabilities regardless of deductions."
But the Trump administration's hostility to the CAMT, cozy relationship with powerful corporations, and willingness to trample existing law have fueled concerns that it will readily bow to industry demands.
"Apparently the Trump administration thinks the trillions they spent on tax cuts for the wealthy wasn't enough now they're planning another huge tax windfall for the biggest corporations in the country," Beyer said Thursday.
In a social media post, Warren wrote that "giant corporations are lobbying Donald Trump for yet another tax handout—this time for research they've ALREADY DONE."
"Give me a break," Warren added. "The last thing American families need is a tax code rigged even more for billionaires and billionaire corporations."
Keep ReadingShow Less
Most Popular


