"What we're increasingly seeing is not necessarily earning, but extraction. Extracting money from basic necessities, or as we're seeing with the conversation around AI, extracting everyone's work and everyone's knowledge and putting it into these powerful models."
Our 5 & Dime Wealth Tax would raise $6.8 trillion over 10 years – even factoring in the tax avoidance cheats the ultra-rich are so good at.
Chipping away at billionaire wealth is crucial to rebalancing our society and giving power back to the overwhelming majority of Americans.
War profiteering has reached new extremes under Trump.
The current situation in Iran shows that confronting corporate power and taxing the ultra-wealthy isn’t just about economic fairness — it’s a national security imperative.
Read our piece with @polluterspay.bsky.social:
Most California voters support the state’s newly proposed billionaire tax, according to new polling.
Meanwhile, rich Californians are plotting a $500M slush fund to influence the state's politics.
So they can't afford a wealth tax, but they'll spend a fortune buying elections?
See the problem...
NEW: Polling from @taxgreed.bsky.social shows that 77% of voters support raising taxes on billionaires. That includes 65% of Republicans.
Read the full memo here: taxgreed.org/news/new-pol...
Candidates associated with taxing the ultra-wealthy have a strong lead among Democratic primary voters nationwide.
Net favorability:
Sen. Bernie Sanders +64
Rep. Alexandria Ocasio Cortez +46
New York City Mayor Zohran Mamdani +44
In contrast, Gov. Newsom trails at +37.
We also found that Governor Gavin Newsom is paying a measurable political price for his refusal to take on billionaires in his state of California.
If Newsom were to oppose raising taxes on billionaires, voters nationwide would view him less favorably by 28 points.
This polling makes it clear that working people see billionaire control as a direct tax on their lives, driving up the cost of everything from housing and healthcare to childcare.
The test is simple: Do you stand with billionaires or the middle class?
77% of voters support raising taxes on billionaires.
Turns out taxing billionaires is popular – REALLY popular.
Our latest poll with Impact Research shows that not only do 77% of voters support raising taxes on billionaires, they prefer candidates who are ready to raise taxes on billionaires by a wide margin.
More billionaires in positions of power.
Trump's new committee to oversee AI regulation includes 5 tech CEOs who rank among the 10 richest people in the world.
They cozied up to Trump with donations and deference and now they get to regulate themselves.
Taxing the ultra-rich is about more than raising revenue, it's about chipping away at this fundamentally anti-democratic power imbalance that has enabled billionaires to seize control of so many facets of our society.
This is the playbook for the AI billionaires and tech CEOs trampling over our economy. They make billions on software that reshapes our collective reality, then spend millions on elections to insert themselves into our political processes and stifle regulations that could cut into their profits.
Palantir CEO Alex Karp built his fortune by exploiting AI technologies he's now admitting "are dangerous societally."
Washington state lawmakers just passed a "millionaires' tax," joining the growing wave of legislators rising to meet the moment and tax the ultra-rich.
The tax will raise nearly $4 billion every year, money that will be used to fund essential services.
The "frivolous and destructive demands of the ultra-rich" are devastating the global economy.
We must tax billionaire wealth to chip away at the influence of the ultra-wealthy who have warped the economy to prioritize their own profits at our expense.
X Post from Gabriel Zucman: "The pace at which US wealth concentration is rising is simply staggering The concentration of AI wealth into the hands of a few tech barons + plutocratic capture = unchartered territory"
The AI boom is pushing US wealth concentration further into uncharted territory.
That's great news for the 50 new billionaires minted by the AI sector in 2025, but terrible for the everyday Americans facing rising energy costs, rising computer costs, and data center impacts in their communities.
“Money begins not to matter at that level of wealth. There is no limit on things you can buy, so you start trying to buy outcomes.”
Just 300 billionaire families spent more than $3 billion on federal elections in 2024, making up 19% of all contributions.
Bezos' dismantling of The Post perfectly illustrates what extreme wealth actually does. It doesn’t sit in a vault, it reshapes the world to suit one person and leaves the rest of us to deal with the fallout.
Taxing the ultra-wealthy is about chipping away at the corrosive power of that wealth.
American billionaires exert unprecedented power and influence over our economy and our democracy while the rest of us pay the cost.
We applaud @sanders.senate.gov and @khanna.house.gov for recognizing the imperative for a federal wealth tax on the ultra-rich. More of our leaders must follow suit.
Trump says he's "won affordability." @joshbivens-econ.bsky.social's latest for @msnownews.bsky.social explains how the data shows a different story...and a policy path toward real affordability wins for U.S. families.
#EconSky #Affordability
Trump talked about affordability in his State of the Union—but skipped the root cause: inequality.
@joshbivens-econ.bsky.social argues the real fix is taxing the ultra-rich and corporations to fund public goods, raise wages, and ease the squeeze on working families.
Your State of the Union reminder that it's not enough to simply criticize the people in charge.
It's clear that the economy and the tax code has been rigged against us.
We know working people can't go on like this.
We need a PLAN. We need Congress to DO SOMETHING.
We joined 20+ groups to send Congress a letter ahead of the State of the Union.
Here's what it said:
—Billionaires are increasing costs for everyone else.
—The Trump administration's tax cuts have made things worse.
—Congress needs a real plan to fix our rigged economy.
LFG.
Will President Trump acknowledge the real culprit behind rising costs, or will he continue protecting the billionaires that bankrolled his campaign?
"Are we a nation that protects billionaires [...] at the expense of families that really need protection?"
This question, posed by Jay Williams at @fobaction.bsky.social's town hall last night, will be front of mind during the State of the Union tonight.
WATCH: The "State(s) of the Union: For the People, Not Billionaires" is getting underway soon!
You can watch the livestream on Youtube here:
www.youtube.com/watch?v=nKwc...
#SOTU
The affordability crisis is a wealth hoarding crisis. Historic concentrations of extreme wealth enable the rich to distort our economy and drive up the cost of living.
We need leaders to offer a forward-looking economic agenda that shifts power away from billionaires and towards working families.
"The billionaire class no longer sees itself as part of American society. They see themselves as something separate and apart. Like the oligarchs of the 18th and 19th centuries, these guys literally believe that they have the divine right to rule and are no longer subject to democratic governments."
Mark Zuckerberg bought a new home in Florida to protest a proposed billionaire wealth tax in California.
Other CA billionaires are literally moving Picassos out of state to hide their wealth from a tax that would allow millions of Californians to access health care.
Tax these greedy billionaires.
Billionaires like Google co-founder Sergey Brin are spending millions to fight a proposed California wealth tax that would use the revenue to safeguard the state's healthcare system for millions of Californians.
Brin is currently the 3rd-richest person in the world with a net worth of $230 billion.
