Opinion: US needs to tax Elon Musk, Jeff Bezos and the Billionaire Boys Club out of their misery


Bezos once rarely appeared in social media, but has now taken to retweeting conservative thought leaders and openly feuding with President Joe Biden, calling the idea of pairing higher corporate taxes with the fight against inflation 'just misdirection.' — AP

America's Billionaire Boys Club has been on the top of the world in the fraught-for-everyone-else 2020s — except when they've liquidated a few billion dollars here or there to climb into their spaceship and soar above it.

During a global pandemic that has killed one million of their fellow US citizens, the nation's roughly 600 or so billionaires saw their wealth spike by an estimated 55%, with the richest of the rich doing even better than that. What's more, even 2021′s (just-barely) Democratic Party takeover on Capitol Hill can't produce the votes to increase taxes on these high earners, even as the middle class struggles with the cost of health care, college... and now everything else.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

India's HCLTech misses Q4 revenue estimates
Intel falls as weak PC chip demand hurts second-quarter forecast
Russia's Yandex reports Q1 revenue rise as market awaits spin-off news
Japan to levy big fines with new app rules
Inside Big Tech’s underground race to buy AI training data
Facebook scams demand stricter online rules, Japan lawmaker says
A Chinese firm is America’s favourite drone maker – except in Washington
Snapchat parent soars after beating revenue, user growth estimates
Alphabet, Microsoft earnings show hefty AI bets are driving growth
Rescue pup to meme star: The real-life ‘Dogecoin’ dog

Others Also Read