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Michigan Coalition Puts Billionaires On Notice

November 20, 2025 Drew Younker, People's World. , , , ,
Lansing, Michigan - Corporate-backed lawyers descended on the state capital in late June in a frantic attempt to derail a popular ballot initiative that would tax the wealthiest Michiganders to fund the state’s starving public schools. The Invest in MI Kids campaign (with the MI pronounced like “my”), an evolution of the “Babies over Billionaires” movement, arrived at a Board of State Canvassers meeting to get its 100-word petition summary approved. The measure would levy a 5% tax on annual income over $500,000 for individuals and $1,000,000 for couples, directing the revenue exclusively to the State School Aid Fund.

Another Crazy Idea On How To Steal Russia’s Assets

September 27, 2025 Moon of Alabama. , , ,
The war hawks have long tried to steal Russian assets held in West to then use the money to finance the proxy war against Russia. The sums involved are serious: Nearly three years after the start of Russia’s invasion of Ukraine, Belgium holds €258 billion in frozen or immobilised Russian assets. The General Administration of Treasury at the Ministry of Finance confirmed the figures on Wednesday to La Libre and De Tijd. Some of these assets belong to institutions not sanctioned by the European Union. Frozen assets amount to €65 billion, with an additional €193 billion in immobilised transactions, primarily from the Central Bank of Russia. The money is not really held by Belgium but by the Belgium company Euroclear which acts as depository for  international central bank assets denominated in Euros. Currently the EU is confiscating the interest, not the principal, of that money to distribute it to Ukraine. That step is likely already illegal and Russia will certainly use the courts to get it back.

How To Reach Persuadable Audiences On Taxes

September 23, 2025 Porter McConnell, Hibba Meraay, Jenn Steinfeld, and Ian C. Grady, Inequality.org. , , ,
Polling has shown over and over that Americans support higher taxes on the wealthy. But when they actually get to the ballot box, they simply aren’t voting in ways that would make that happen. As advocates for an economy that would lift all people up and end extreme wealth concentration, this disconnect can feel incredibly frustrating. We at the Excessive Wealth Disorder Institute and Wonder for Good did some deep listening to better understand the disconnect between audiences’ support for change in the abstract and how they actually vote. Through in-depth, qualitative audience research and message testing, we identified strategies that consistently worked — and some that didn’t — in creating positive mindsets and support for reforming the tax code. Some of our findings may be surprising to advocates accustomed to messaging to base audiences.

A Textbook Case Of How Tax Policy Fuels Obscene Wealth Accumulation

July 30, 2025 Bob Lord, Inequality.org. , , ,
The recent wedding of Jeff Bezos and Lauren Sánchez in Venice set off quite the furor over tax avoidance. An enormous banner in the Piazza San Marco put the matter plainly: “If you can rent Venice for your wedding, you can pay more tax.” That banner prompted a commentary from Phoebe Liu at Forbes on how much tax Bezos does indeed pay. For the year 2024, according to a Forbes estimate, Bezos paid about $2.7 billion in tax on the gain from his sale of $13.6 billion worth of Amazon stock. That stock — the heart of the Bezos fortune since he started Amazon in 1994 — originally cost him no more than $13,600.

Spain And Brazil Launch Initiative To Push Global Tax On The Ultra-Rich

July 2, 2025 TeleSUR English. , , ,
On Tuesday, Spain and Brazil will launch a joint initiative to promote a global tax increase on the superrich, aiming to achieve a fairer redistribution of wealth. The initiative, to be presented at the fourth U.N. International Conference on Financing for Development in Seville, seeks to encourage a multilateral debate on the effective taxation of large fortunes and how it impacts social cohesion. The project aims to tackle the issue of extreme inequality and move toward a fairer redistribution of wealth “through a progressive and just tax system in which those who have more, pay more,” Spain’s Finance Ministry said.

Washington’s ‘Golden Dome’ – Multi-Trillion Tax Dollar Heist At Best

June 5, 2025 Brian Berletic, Orinoco Tribune. , , , ,
During President Trump’s announcement on May 21, 2025, it was claimed the Golden Dome will consist of technology deployed across land, sea, and space capable of intercepting hypersonic, ballistic, and advanced cruise missiles, “even if they are launched from other sides of the world and even if they are launched from space.” Former-US President Ronald Reagan’s “Star Wars” program (also known as the Strategic Defense Initiative) was repeatedly cited during the announcement. That program sought to use space-based weapons to void the doctrine of “mutually assured destruction” allowing the US to conduct a nuclear or non-nuclear first strike on another nation and avoid what had otherwise been an inevitable nuclear retaliation that would destroy both nations in the process.

Committee Passes Charity Killer Provision In Tax Bill

May 18, 2025 Defending Rights & Dissent. , , , ,
This morning, the House Ways and Means Committee passed their tax bill granting the Secretary of Treasury the ability to accuse any nonprofit of being a “terrorist supporting organization” without basic due process. Defending Rights & Dissent joined over 200 organizations on the following statement condemning the provision: “Charities that feed the hungry, churches and faith communities that comfort the grieving, veterans’ groups that care for our heroes, and countless other service providing organizations are at risk today because of this legislation. “Nonprofits are on the front lines of meeting every community need. Instead of supporting those who serve our neighbors, this bill would hand any president’s administration the power to cast them as potential enemies of the state if they happen to disagree with their political agenda.

Louisiana Gas Tax Break Could Cost Local Communities $2.8 Billion

May 3, 2025 Sharon Kelly, DeSmog. , , , ,
When Australia’s Woodside Energy Group announced April 29 that it plans to move forward with its Louisiana LNG export terminal, the state hailed the move as the “largest single foreign direct investment and greenfield project in Louisiana history.” It could also create perhaps the largest single local tax giveaway in U.S. history, under a Louisiana law offering corporations property tax breaks worth billions of dollars, a new Sierra Club study shared with DeSmog finds — representing a massive subsidy from Louisiana communities for exporting fossil fuels from the U.S. to Europe and Asia.

Return Of The Robber Barons: Trump’s Distorted View Of US Tariff History

April 15, 2025 Michael Hudson, Geopolitical Economy. , , , , ,
Donald Trump’s tariff policy has thrown markets into turmoil among his allies and enemies alike. This anarchy reflects the fact that his major aim was not really tariff policy, but simply to cut income taxes on the wealthy, by replacing them with tariffs as the main source of government revenue. Extracting economic concessions from other countries is part of his justification for this tax shift as offering a nationalistic benefit for the United States. His cover story, and perhaps even his belief, is that tariffs by themselves can revive American industry. But he has no plans to deal with the problems that caused America’s deindustrialization in the first place.

Fake ‘Populism’: Trump’s Billionaire Administration Serves The Rich

March 30, 2025 Ben Norton, Geopolitical Economy. , , , , , ,
When Donald Trump campaigned to be US president in 2024, he promised he would help working-class Americans. He even did a photo op at a McDonald’s, pretending to be a fast food worker. When he returned to the White House, however, Trump made it clear that his policies would be serving a small handful of billionaire oligarchs, not the majority of the country. Trump appointed 13 billionaires as top officials in his administration. As Public Citizen reported, this means that the Trump administration represents not just the 1% richest Americans, but the 0.0001%.

An Inequality Tale Of Two Capital Cities

March 11, 2025 Sam Pizzigati, Inequality.org. , , ,
Nine of the world’s ten wealthiest billionaires now call the United States home. The remaining one? He lives in France. And that one — Bernard Arnault, the 76-year-old who owns just about half the world’s largest maker of luxury goods — is now feeling some heat. What has Arnault and his fellow French deep pockets beginning to sweat? Lawmakers in France’s National Assembly have just given a green light to the world’s first significant tax on billionaire wealth. “The tax impunity of billionaires,” the measure’s prime sponsor, the Ecologist Party’s Eva Sas, exulted last month, “is over.”

Activists Win Excessive Compensation Tax To Fund Social Housing

February 23, 2025 John Burbank, Inequality.org. , , , , , ,
Seattle voters have just beaten the oligarchs, Amazon, Microsoft, the local Chamber of Commerce, the real estate industry, the coup makers and backers, the Muskites, and the Trumpiphiles. How? Through a ballot measure, the people in Seattle have just approved a tax on excessive executive compensation to fund affordable housing. The vote wasn’t even close. The proposal, Proposition 1A, won by a 26-point margin. The advocacy group House Our Neighbors led the ballot campaign. Their leaders and leafletters and canvassers prevailed over a conservative and obstructing city council, a mayor focused on toadying to Seattle-based Amazon, a half-million-dollar opposition campaign, and the overlords of the Trump/Musk dictatorship.

A New Plan To Create A World Without Elon Musks

February 17, 2025 Sam Pizzigati, Inequality.org. , , , ,
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.

World’s Richest Billionaires At Center Of Trump’s Inauguration

January 21, 2025 Ben Norton, Geopolitical Economy. , , , , , , , , , , , ,
Donald Trump has returned for his second term as US president. He invited some of the world’s most powerful billionaire oligarchs to his inauguration in Washington. Sitting next to Trump’s cabinet nominees, at the center of his inauguration, were the three richest people on Earth: Elon Musk, the CEO of Tesla; Jeff Bezos, the founder and executive chairman of Amazon; and Mark Zuckerberg, the CEO of Meta, which is the parent company of Facebook and Instagram. Together, these three men have nearly $900 billion in wealth. They could be seen on video chatting alongside Sundar Pichai, who is the billionaire CEO of Google and its parent company Alphabet.

Ten Inequality Victories In 2024

December 19, 2024 Sarah Anderson, Inequality.org. , , , , , , , , , , ,
Volkswagen workers in Chattanooga, Tennessee voted overwhelmingly in April to join the United Auto Workers, a landmark win for labor organizing in the South. The region has suffered deeply because of its low-road, anti-union economic model. Seven out of ten states with the highest levels of poverty are in the South, according to the Economic Policy Institute. Another UAW election, at a Mercedes-Benz facility in Vance, Alabama, where management was more aggressively anti-union, went the other way in May. But the union has vowed to continue organizing in the region.
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