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The 25-year-old American, her newlywed husband, and former Chilean diplomat Orlando Letelier were driving to work at the Institute for Policy Studies in Washington, DC when their car was bombed.
The Institute for Policy Studies on Monday welcomed a judge's homicide convictions and prison sentences for three agents of former US-backed Chilean dictator Gen. Augusto Pinochet who murdered Ronni Karpen Moffitt, one of the progressive think tank's employees, during a 1976 car bombing targeting her colleague, the exiled leftist diplomat Orlando Letelier.
Last Thursday, Chilean Judge Paola Plaza González sentenced three former agents of the Directorate of National Intelligence (DINA)—Pedro Octavio Espinoza Bravo, José Octavio Zara Holger, and Raúl Eduardo Iturriaga Neumann—to 15 years' imprisonment each for the qualified homicide of Moffitt, who was 25 at the time she was killed with her Institute for Policy Studies colleague Letelier.
There is no legal status of murder in Chile, where homicides are divided into two categories, simple and qualified (aggravated).
On the morning of September 21, 1976, Moffit, Letelier, and Michael Moffitt—Ronni's husband of four months, who also worked at IPS—were on their way to work when the Chevy Malibu in which they were traveling was blown up in Sheridan Circle on Washington, DC's Embassy Row.
Michael, who was sitting in the back seat, survived the blast and watched as Ronni staggered from the mangled car, mortally wounded in the neck, drowning in her own blood. Letelier, whose legs were blown off and torso mangled, died before an ambulance arrived.
It was the first and last time a foreign diplomat was assassinated on US soil.

“For a half century, IPS has turned this heinous act of international terrorism into a force for justice and for lifting up new human rights champions in the United States and Latin America,” IPS executive director Tope Folarin said in response to the sentences. “We are thrilled to see this huge step towards accountability for the murder of Ronni Karpen Moffitt, a young American woman whose work to improve lives in her community and her world was cut tragically short.”
Moffitt's niece, Rebecca Karpen, said that "the recent sentencing of three of the men responsible for my aunt’s murder comes 50 years after their crime was committed—17 years after the death of my grandfather, Murray Karpen, who dedicated his life to fighting for justice for his daughter, and four years after the death of her brother, my father Harry, who carried her picture in his wallet for decades after his big sister was murdered."
"It is often said that justice delayed is justice denied," Karpen added. "So many of my family members who loved Ronni never lived to see this measure of justice applied, and that is a tragedy."
"So many of my family members who loved Ronni never lived to see this measure of justice applied, and that is a tragedy."
Plaza noted that the attack was planned under the direction of then-DINA Director Gen. Manuel Contreras Sepulveda and his deputy, Pedro Octavio Espinoza Bravo, as part of "a series of attacks outside the national territory against the lives of Chilean citizens" during Operation Condor.
The secret, US-backed effort, which ran from 1975-83, saw right-wing military dictatorships in Chile, Argentina, Uruguay, Bolivia, Paraguay, Brazil, Peru, and Ecuador collaborate on an international campaign of terror in which an estimated 60,000 leftists were killed, while tens of thousands of others were arrested and tortured.
Letelier was targeted because he was once a Chilean foreign minister under former socialist President Salvador Allende and had become a prominent critic of the Pinochet dictatorship while living in exile after the US-backed 1973 coup that overthrew the democratically elected reformist government and brought Pinochet to power.
Other prominent leftists forced into exile during Pinochet's reign of terror—including former Army commander Gen. Carlos Prats and his wife Sofia Cuthbert—were assassinated during Operation Condor. In fact, Contreras and the three men convicted last week were also found guilty in 2010 of killing the couple in a 1974 car bombing in Buenos Aires.
Officials in the administration of US President Gerald Ford, including Secretary of State Henry Kissinger, knew Pinochet's government and other Condor partners were planning to murder their political opponents abroad. The State Department drafted warnings regarding the impending assassinations but withdrew them shortly before the Letelier-Moffitt killings.
In her sentencing order last week, Plaza affirmed the role of DINA Capt. Armando Fernández Larios in obtaining passports for members of the hit squad, as well as for Michael Townley, a US citizen and DINA operative who built the remote-control bomb and placed it under Letelier's driver's seat.
However, last week's convictions and sentences were solely for Espinoza, Zara, and Iturriaga—and exclusively for Moffitt's murder.
In 1993, Contreras and Espinoza were convicted in Chile for ordering and implementing Letelier's assassination. Contreras was sentenced to seven years in prison, where he died in 2015 while serving hundreds of years of cumulative sentences for Pinochet-era crimes. Espinoza was sentenced to six years behind bars.
Townley, Fernández, and five right-wing Cuban exile militants were separately convicted in the United States in connection with Letelier's assassination. Townley served just over five years before being placed in witness protection due to his cooperation with investigators. Fernández was released after seven months, due to a plea bargain. Two of the Cubans served eight years; the convictions of their three co-defendants were overturned on appeal.
All three men convicted and sentenced last week for Moffitt's murder attended the US Army School of the Americas (SOA), then located in Panama. So did Contreras and Fernández.
SOA is sometimes called the School of Assassins and the School of Coups due to its notorious graduates and their crimes, including the drug trafficking Panamanian president Manuel Noriega, Bolivian despot Hugo Banzer, Haitian death squad commander Raoul Cedras, and Argentine “Dirty War” dictator Leopoldo Galtieri
At least hundreds of war criminals from throughout the hemisphere have been trained at the SOA, whose graduates planned, ordered, committed, or covered up some of the most notorious atrocities of the era, including the Guatemalan genocide; El Mozote massacre; assassination of Archbishop Óscar Romero; Jesuit massacre; and kidnapping, rape, and murder of four US churchwomen.
Juan Pablo Letelier, the son of Orlando Letelier and a former Chilean senator, called last week's sentences "an act of justice."
"Truth has prevailed," Letelier asserted. "Many years have gone by in this effort for truth and justice. Yet, with perseverance and with conviction, we’ve reached the point where, in a Chilean court, this act of terrorism in which an American citizen was assassinated by Chile’s secret police in 1976 has finally had a case, an investigation, and a sentencing of the three main people responsible."
"We hope that US government authorities will now consider that what has been done in Chile should also be done in the US regarding the investigation and the sanctioning of those responsible for this terrorist act," he added. "There are persons who are responsible for Ronni Karpen Moffitt’s death 50 years ago who are still in liberty on US soil, and there are pending Chilean requests for their extradition with which the US government has not complied."
Chile is seeking the extradition of Fernández, who was arrested by US Immigration and Customs Enforcement agents in Florida last year but has not been handed over to Chilean authorities to stand trial.
“Justice is slow," Letelier recently wrote. "There are many families in Chile who were victims... and they want justice... Armando Fernández Larios should never have been free in the United States.”
The rich pay more because they have more. But they don’t pay more at levels sufficient to counterbalance their outsized gains.
A recent analysis from the Tax Foundation argues that the US federal income tax system remains solidly progressive. Citing new Internal Revenue Service data for tax year 2023, the group is emphasizing that high-income taxpayers pay the highest average tax rates and account for a large share of total income taxes paid. On its face, that claim sounds reassuring—a sign that our tax code must surely be doing its job.
But this framing leaves out a critical part of the story. Yes, the wealthy pay more in taxes than everyone else. The real question: whether they’re paying enough, their fair share relative to their rapidly growing share of our nation’s income and wealth. By that measure, the answer must be a clear no. The US tax system, the underlying data show, remains far less progressive than it once was—and far less effective at counteracting inequality than it needs to be.
The Tax Foundation is claiming that the top 1%’s share of the nation’s adjusted gross income, AGI, “fluctuates with the business cycle” while the share of the taxes these rich pay has been “generally increasing.” But, in fact, these two indicators track each other rather closely over time. By placing income share and tax share on separate graphs, the Tax Foundation obscures how close this tracking has been.
Graphed together, the obvious correspondence of these two measures becomes unmistakably clear: As the top 1%’s share of income rises, so does the top 1%’s share of taxes. In other words, the increase in the tax dollars these rich are paying largely reflects the larger slice of total national income these rich are pocketing, not that the tax system has somehow become meaningfully more progressive. The top 1% tax share is rising because the top 1% income share is rising, not because our most affluent are facing a heavier tax burden on their gains.
A truly progressive system should meaningfully reduce inequality by redistributing income and wealth and curbing the concentration of economic power at the top. By that standard, the US tax system falls short.
By characterizing the top 1%’s income share as “fluctuating with the business cycle” while characterizing its tax share as “generally increasing”—and separating the graphic presentation of these two trends—the Tax Foundation is playing fast and loose with our core tax reality.
The time frame of the Tax Foundation’s analysis further muddies the waters. By starting in 2001, the Tax Foundation misses the longer arc of rising inequality in the United States. Looking back to the 1980s, the trend is unmistakable: The top 1%’s share of income has climbed substantially, from 11.3% in 1986 to 20.6% in 2023. The tax share of these rich has risen as well, from 25.8% in 1986 to 38.4% in 2023. Meanwhile their average effective tax rate has actually declined over the same period, from 33.1% to 26.3%, according to IRS data.
Even more importantly, focusing solely on income ignores the explosion of wealth at the top. Adjusted gross income (AGI) itself is a limited and often misleading measure—an arbitrary definition used for tax purposes that fails to capture total economic income, and completely misses the scale of wealth accumulation. Over the past several decades, our nation’s richest households have accumulated an outsized share of the nation’s wealth, with that wealth share far outpacing the top 1%'s growing share of national income. Yet the tax system does relatively little to address this imbalance.
Wealth remains lightly taxed compared to income, and many forms of capital income, to make matters worse, enjoy low preferential tax rates or taxes that can be deferred indefinitely. The end result: The overall tax burden on America’s richest is failing to keep pace with their expanding economic power.
The distortions become even clearer when we look beyond the top 1% to the tippy top of our wealth distribution, the top 0.01%. These ultra-wealthy households have seen extraordinary gains in both income and wealth over time. But their tax contributions have not kept up proportionally.
An Institute for Policy Studies analysis of data collected by economists Emmanuel Saez and Gabriel Zucman shows that our top 0.01% more than tripled their share of the nation’s wealth between 1962 and 2018. Yet their share of US taxes paid in 2018 hovered only slightly higher than their share of taxes paid in 1962.
All of this raises a fundamental question: What makes a tax system “progressive”? Just somewhat higher tax rates on higher earners? No. A truly progressive system should meaningfully reduce inequality by redistributing income and wealth and curbing the concentration of economic power at the top. By that standard, the US tax system falls short.
Our current tax system largely mirrors our nation’s underlying distribution of income rather than reshaping that distribution. The rich pay more because they have more. But they don’t pay more at levels sufficient to counterbalance their outsized gains. In 2023, the top 1% captured about 20.6% of pre-tax income and still held roughly 17.7% after federal income taxes, only a modest reduction. That after-tax share is still higher than their 17.4% share of pre-tax income in 2001, underscoring how little the tax system has done to curb the growing concentration of income at the top.
Reversing these trends will require more than modest tweaks to the tax code. It will take a more ambitious approach, one that directly addresses both income and wealth concentration at the very top. Until then, claims that the tax system is adequately progressive risk obscuring a deeper reality: Inequality continues to widen, and the tax code is doing too little to stop it.
Over 2025, the combined wealth of all US billionaires climbed to $8.1 trillion, a 21% increase over 2025, up from $6.7 trillion exactly a year ago.
The first year of the Trump administration was a very happy new year for the US billionaire class. The richest 15 billionaires, all with assets more than $100 billion, saw their combined wealth surge 33%, from $2.4 trillion to $3.2 trillion. This is double the growth of the S&P 500 over 2025, which was 16.4%.
Over 2025, the combined wealth of all US billionaires climbed to $8.1 trillion, a 21% increase over 2025, up from $6.7 trillion exactly a year ago.
Based on an Institute for Policy Studies analysis of data from the Forbes real time billionaire list from 2025, there are 935 billionaires in the United States with combined wealth totaling $8.1 trillion at the close of 2025 markets. This is an increase from 813 US billionaires at end close of 2024 markets, with combined wealth of $6.7 trillion.
The richest three American wealth dynasties—the Waltons, Mars, and Koch families—saw their wealth accelerate from $657.8 billion to $757 billion in one year.
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
[Note: Bloomberg reported global billionaire wealth increased $2.2 trillion over 2025, in an analysis released several days before the market closed at 4:00 p.m. on December 31, 2025. The market fluctuated considerably in the final days of 2025.]
The top five current billionaires and their individual wealth on January 1, 2026, compared to January 1, 2025:
The three wealthiest dynastic families in the US hold an estimated $757 billion, up from $657.8 billion at the end of 2024, a 16% gain. These are:
Many top billionaires have seen their wealth surge during and after the Covid-19 pandemic at the beginning of 2020.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. Less than five years later, at the end of 2025, Musk’s wealth is $726 billion, a dizzying 2,800% increase from before the Covid-19 pandemic.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $242 billion at the end of 2025.
Three Walton family members—Jim, Alice, and Rob, saw their combined assets increase from $161.1 billion on March 18, 2020 to $378 billion at the end of 2025.