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.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

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

Honey, I love you. Didn’t you see my Slack about it?
The architects of ‘Hades’ strive to bewitch gamers again
A pithy YouTube celebrity’s plea: Buy this video game
Coming soon: Control your smartphone with facial expressions
Crypto lender Genesis to return $3 billion to customers in bankruptcy wind-down
US, TikTok seek fast-track schedule, ruling by Dec. 6 on potential ban
DXC Technology tumbles as investors fret over latest restructuring plan
Microsoft to release next 'Call of Duty' game on subscription service, source says
US labor board will suspend case against SpaceX pending company's legal challenge
Nigeria court rules Binance executive can face trial on behalf of crypto exchange

Others Also Read