Those who celebrate @elonmusk's $1 trillion fortune need to be reminded of a simple and vital truth:
That there is a fundamental tension between extreme wealth and the very possibility of democracy.
The Trump admin told the public they ended taxes on Social Security. That's a lie.
The seniors who qualify for the $6,000 deduction likely don't owe federal income taxes on Social Security to begin with. Upper-income seniors will likely still pay it.
https://t.co/Rz3J8kT72v
Here's how much wealthier the richest men in America got last year:
Musk ⬆️$305 billion
Page ⬆️$101 billion
Ellison ⬆️$36 billion
Bezos ⬆️$8.5 billion
Brin ⬆️$88.1 billion
The rest of us struggled to afford healthcare, groceries, and rent.
Great "trickle down" we've got here.
Despite his obsession with criticizing California, Texas Gov. Greg Abbott’s most recent property tax proposal sure sounds a lot like the Golden State’s Proposition 13. https://t.co/brTbrKEnmB
We spent a year investigating billionaires for @washingtonpost.
We found: the wealthiest 100 Americans gave $1.1 billion to influence the 2024 elections — 140x more than they did in 2000. And almost all of that giving boosted Republicans.
https://t.co/PGluUZewaL
Reminder that the richest 1% of Americans will receive $1 trillion in tax cuts over the next decade, thanks to the tax cuts that Trump and Congressional Republicans passed this year. https://t.co/vjQx4az6AP
A new CBO report finds the Trump administration’s latest corporate tax cuts are already worsening the already-challenging federal budget deficit.
Corporate income taxes are $77 billion lower than in the previous year, a 15% drop. https://t.co/8bgofVbqBT
“Each and every analysis from the nonpartisan Congressional Budget Office continues to show the same result regardless of how you look at it: this bill explodes the debt by trillions of dollars to fund tax breaks for billionaires." https://t.co/HgNTq3eNrp
Single filers can exclude up to $250,000 in capital gains on home sales, and that amount is doubled for married filers.
Eliminating the federal capital gains tax on home sales would be another move that primarily benefits wealthier Americans. https://t.co/DhNgRu3V0x
The predominant feature of the tax and spending bill working its way through Congress is a massive tax cut for the richest 1%.
The wealthiest people in the country would receive $114 billion in 2026 alone. https://t.co/Pp4PeJcand
Meta will pocket $15 billion from one new tax break in Trump's budget.
That is more money than the federal government spends annually on childcare.
Trump's budget is filled with tax breaks for wealthy corporations while screwing over American families. It's disgusting.
The richest 1% of Americans would receive an average net tax cut of about $70,000 next year from the House reconciliation bill.
The richest 20% of Americans would receive 68% of the overall tax cuts.
That's what the bill is all about.
Massively cutting Medicaid and SNAP isn’t the only way to find savings. We could just forgo tax cuts for Americans making over $500K instead.
My @Morning_Joe Chart
In the middle of the night, the House pushed through a bill that rips health insurance and food assistance from millions, leaves the poorest households worse off, and sends massive tax cuts to the rich - all while increasing the deficit by trillions. https://t.co/MobgpPP2oa