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Sanders proposes $4.4 trillion tax on billionaires

Mar 3, 2026Center

Sen. Bernie Sanders (I-Vt.) has teamed up with Rep. Ro Khanna (D-Calif.) to propose a 5 percent annual wealth tax on the nation’s billionaires that would raise an estimated $4.4 trillion over the next decade to help “working families” cope with higher living costs. The tax hike would apply to 938 billionaires in the U.S.,…

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Pay-to-play cycle behind GOP's corporate tax cuts exposed in new report

Raw Story

6 hours ago

Pay-to-play cycle behind GOP's corporate tax cuts exposed in new report

Major American corporations that benefited from tax cuts enacted last year by President Donald Trump and congressional Republicans are donating to the campaigns of GOP lawmakers who made the windfall possible.A report published Friday by Unrig Our Economy spotlights seven House Republicans who voted for the sprawling and unpopular GOP budget package, which extended tax breaks for corporations and wealthy Americans while inflicting unprecedented cuts on Medicaid and federal nutrition assistance—with disastrous consequences for millions of low-income families across the country.Rep. Mariannette Miller-Meeks (R-Iowa), one of the lawmakers featured in the new report, has received campaign donations from corporate PACs representing 3M, Amazon, Walmart, AT&T, and other companies that collectively received billions of dollars in tax breaks from the Republican law, which restored a provision allowing businesses to immediately write off new investments.Amazon saw its US income taxes fall by more than half last year due to the GOP law, even as the company’s profits grew. Unrig Our Economy noted that Amazon, whose PAC donated thousands to the Republicans spotlighted in the new report, has an effective federal tax rate of 1.37% following enactment of the budget law.Miller-Meeks, who has received at least $57,000 in donations from the PACs of companies that benefited from the 2025 law, issued a statement Thursday bragging about supporting “the largest tax cuts in American history,” not mentioning that the benefits will disproportionately flow to profitable corporations and the richest people in the country.“Thanks to the Republican tax law, corporations are receiving tax breaks, House Republicans are getting campaign cash, and working families are getting stuck with the bill,” the report states.Another Republican lawmaker featured in the report, Rob Bresnahan of Pennsylvania, received $2,500 in campaign donations from the PAC of FirstEnergy, which reaped $500 million in depreciation deductions thanks to the GOP tax law.“Bresnahan voted to give FirstEnergy hundreds of millions in tax breaks even after the company raised utility prices for his constituents,” Unrig Our Economy’s report observes.The report also points out that Bresnahan “owned stock in every single one” of the companies who contributed PAC money to his campaign following passage of the Republican budget package last summer.“This comes after Bresnahan has already faced scrutiny for dumping stock in Medicaid providers and selling off bonds in Pennsylvania hospitals before voting to slash Medicaid and put rural hospitals at risk,” the report notes.Leor Tal, Unrig Our Economy’s campaign director, said in a statement that “one year ago, House Republicans ripped away healthcare and food assistance from millions of Americans, so that corporations could get massive tax breaks.”“Now, many of those companies are dishing out PAC money to the Republicans listed in this report,” said Tal. “Republicans in Congress sold out many of their own constituents to help corporations get even richer. It’s time that House Republicans step up, do the right thing, and start fighting for working Americans—not giant corporations.”

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Billionaire Trump ally melts down in spat with pope: ‘Working for Chinese communists”

Raw Story

8 hours ago

Billionaire Trump ally melts down in spat with pope: ‘Working for Chinese communists”

Right-wing tech billionaire Peter Thiel is accusing Pope Leo XIV of doing the work of the Chinese Communist Party with his criticisms of artificial intelligence.According to a Thursday report from CNN, Thiel told the Aspen Ideas Festival in Colorado on Tuesday that the pope was inadvertently serving as a “Chinese communist agent” when he released a 42,000-word encyclical that called for strict regulation of AI, a technology that the pontiff said heightens the “risk of dehumanization” throughout the world.Thiel argued that this sort of thinking was dangerous, CNN reported, because it could result in the US losing the “race” to build more advanced AI to China. Because of this, Thiel continued, the pope is essentially “working for the Chinese communists” by trying to tap the brakes on AI development.Thiel, a co-founder of PayPal and Palantir, has long decried AI critics in harsh terms. Over the last year, he has been delivering a series of lectures in which he has said that opponents of AI development are working as agents for the Antichrist.Journalist Christopher Hale, who writes the Letters From Leo newsletter, noted on Friday that Thiel in the past has even speculated that Pope Leo could be “a manifestation of the Antichrist.”Thiel has said that he instructed Vice President JD Vance, a longtime political ally who received major funding from the tech billionaire for his 2022 Senate campaign, to ignore the pope’s moral guidance despite influencing Vance to convert to Catholicism, Hale added.“Thiel seeded the vice president’s Catholic faith,” Hale wrote, “and he now tells wealthy festival audiences that the leader of that faith works for a communist government.”In addition to his attacks on the pope, Thiel also warned about “a democratic-socialist takeover of the Democratic Party,” pointing to recent victories in New York and Colorado of candidates backed by the Democratic Socialists of America.Thiel said that this “takeover” would doom the US, arguing that “when the Democratic Party goes, this country is over,” according to CNN.The New York Times reported in May that Thiel has grown so concerned about the political situation in the US that he’s created a “foothold” for himself in Argentina, which is currently being governed by ideologically likeminded libertarian President Javier Milei.“Thiel, who has a history of collecting backup countries as he hedges his bets against the United States, is considering making Argentina another Plan B,” the Times reported. “Born in Germany and raised in the United States, he received citizenship in New Zealand in 2011, and applied for a passport in Malta in 2022.”

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Iran and Oman propose fee plan for Strait of Hormuz, sources say

NBC News Politics

21 hours ago

Iran and Oman propose fee plan for Strait of Hormuz, sources say

Iran and Oman have presented to the U.S. a proposal for the administration of the Strait of Hormuz that includes the joint collection of administrative fees by the two Middle East nations, four sources told NBC News.

Center Left

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Taxes on Trump's $1.4 billion crypto income could total hundreds of millions

Politics - CBSNews.com

Yesterday

Taxes on Trump's $1.4 billion crypto income could total hundreds of millions

The White House declined to say how much the president paid in taxes on his crypto windfall.

Center

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Couple who staged apparent proposal atop Empire State Building faces slew of charges

US news | The Guardian

Yesterday

Couple who staged apparent proposal atop Empire State Building faces slew of charges

‘Rooftopers’ Angela Nikolau and Ivan Kuznetsov were arrested after allegedly scaling the New York skyscraperTwo Russian “rooftoppers” who staged an apparent marriage proposal at the peak of the Empire State Building’s spire were reportedly arraigned in New York on Thursday on a slew of charges including reckless endangerment.Angela Nikolau and Ivan Kuznetsov were arrested on Wednesday after the stunt, which featured the pair, dressed in all black, unfurling a peace banner and kissing. Continue reading...

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Couple arrested on Empire State Building after apparent proposal – video

US news | The Guardian

Yesterday

Couple arrested on Empire State Building after apparent proposal – video

Two people were arrested after an apparent marriage proposal atop the Empire State Building’s spire on Wednesday, having climbed well above the section open to the public. The pair were identified as Angela Nikolau and Ivan Beerkus, Russian 'rooftoppers' known for carrying out similar stunts in cities including Los Angeles and Tianjin in China. Dressed in black and with their faces covered, they unfurled a large black banner bearing the words: 'When the power of love beats the love of power, the ‌world knows peace.' It remains unclear how they reached the uppermost section of the building, which rises 1,454ft (443 metres) above midtown Manhattan. The New York police department said charges were pending and the investigation remained ongoing. CBS News later reported that the pair were facing charges including burglary, criminal trespass and reckless endangerment Continue reading...

Center Left

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Mamdani-backed candidate rails against billionaires despite her career benefiting from one

Washington Examiner

Yesterday

Mamdani-backed candidate rails against billionaires despite her career benefiting from one

New York state Senate candidate Aber Kawas worked at three activist groups funded by billionaire philanthropist George Soros before blasting “oligarchs and billionaires” on the campaign trail. Kawas, who has New York City Mayor Zohran Mamdani’s endorsement, built her activist resume for over a decade at the Arab American Association of New York, Arab Community […]

Center Right

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Billionaire Peter Thiel stuns liberal crowd, warns democratic socialists will take over their party

New York Post

Yesterday

Billionaire Peter Thiel stuns liberal crowd, warns democratic socialists will take over their party

"When the Democratic Party goes, this country is over," Thiel said.

Right

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Sanders proposes $4.4 trillion tax on billionaires

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Sanders proposes $4.4 trillion tax on billionaires

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