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    wealth tax

    Secretary of Education nominee Linda McMahon...

    'They've Come to Collect': Report Details Crisis of Billionaires Buying US Elections

    "The billions of dollars of donations these oligarchic clans give candidates, parties, and particularly outside spending groups drown out the voices and concerns of ordinary voters," according to the report.

    Eloise Goldsmith
    Apr 02, 2025

    The ever-growing amount of billionaire cash in elections is poisoning U.S. democracy, according to a report published Wednesday by the advocacy group Americans for Tax Fairness—which found that the top 100 billionaire families spent an eye-popping $2.6 billion on federal contests in 2024.

    That's more than twice the roughly $1 billion spent by individual billionaire donors in 2020, according to the group, and constitutes 160 times the amount of billionaire political spending since the 2010 Supreme Court decision Citizens United v. Federal Election Commission. That decision paved the way for the proliferation of super political action committees (PACs), a type of committee that can accept unlimited donations to spend on political activity.

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    News
    billionaires
    "Tax the Rich" sign in Germany

    How to Cut the Billionaires Behind This Coup Down to Size

    The political left in Germany has a plan and strategy for the Elon Musk's of this world and maybe we should be learn from it.

    Sam Pizzigati
    Feb 17, 2025

    Americans these days don’t much like billionaires. Our ultra-rich, Americans overwhelmingly believe, aren’t paying enough in taxes. Polling earlier this month found that nearly three-quarters of the nation’s likeliest voters — 74 percent — feel billionaires are paying “too little’ at tax time.

    Just how concerned about billion-dollar fortunes have Americans become? Nearly half of us overall, Harris polling found last summer, would like to see a limit on “wealth accumulation.” Among Gen Z’ers, that support for limits on billionaire fortunes runs all the way up to 65 percent.

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    Opinion
    billionaires
    A person holds a Tax The Rich sign at a June 27, 2020 protest march on the Brooklyn Bridge in New York City.

    Honest Math Shows That the Wealthy Aren’t Paying Their Fair Share

    For taxing the rich, we currently rely on an income tax based on adjusted gross income as our primary vehicle. That isn’t working.

    Bob Lord
    Dec 03, 2024

    The Washington, D.C.-based Tax Foundation has long functioned as an apologist for America’s deepest pockets. Analysts at the foundation have spent years assuring us that our wealthiest are paying far more than their fair tax share—in the face of a reality that has our richest aggressively growing their share of the wealth all Americans are creating.

    This past August, the Biden administration’s Treasury Department commissioned a new study that documented just how little of their wealth America’s richest are actually paying in taxes. Last month, the Tax Foundation responded with a predictable critique. Our super rich, insists this new Tax Foundation analysis, are still today paying “super amounts of taxes.”

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    Opinion
    tax the rich

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