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Billionaires Are the Symptom, Not the Disease

Wealth taxes are justified and overdue, but until we confront corporate power directly, wealth will continue concentrating in the same few hands, argues Christopher Marquis.

Sources (1)· Oct 16, 11:00 AM

Every telling

their own versions

Time· Oct 16, 11:00 AMBillionaires Are the Symptom, Not the Disease

The thread

Before

California’s Proposed Billionaire TaxPlus: Trump calls off the livestream of Nidal Hasan’s execution, Russian drones strike two tankers in Romanian waters, and Cocaine Bear producer wants to become a data center.

The Dispatch23h agoWhole story →

This GOP lie has Gavin Newsom stabbing his own party in the backIn three weeks, California voters will have their ballots tallied on Proposition 40 (and 41 and 42, which would negate 40) that will impose a one-time 5% tax on the assets — the wealth — of the state’s 200+ billionaires. The money will be used to make up for the massive almost-trillion-dollar cuts to Medicaid, called Medi-Cal in that state, that hits in…

Raw Story1d agoWhole story →

Benson, James battle over data centers, economy in Michigan gubernatorial debateMichigan gubernatorial candidates Jocelyn Benson and John James laid out competing plans for the state's future during a debate Thursday night, clashing over affordability, taxes, data centers, education and health care.

CBS News1d agoWhole story →

Economy John James michigan gubernatorial debate

2026 Election: Minnesota Senate District 33, House 33A, 33BHere's a look at who's running.

St. Paul Pioneer Press1d agoWhole story →

Government 2026 minnesota elections

Australia Draft Bill to Adopt OECD Crypto Tax Reporting FrameworkAustralia’s draft bill would enable international data sharing of crypto tax information under OECD rules and introduce a domestic reporting regime.

Cointelegraph1d agoWhole story →

Economy australia crypto tax bill draft

Since

A Billionaire Tax Is on California's Ballot. Can It Make Up for Federal Healthcare Cuts?Get our weekly newsletter, The Week in Brief, featuring a roundup of our original coverage, Fridays at 2 p.m. ET.

KFF Health News15h agoWhole story →

Health california proposition 40

Alabama lawmakers announce plan to eliminate grocery tax: ‘Food is a necessity, not a luxury’Alabama is one of just 8 states that still tax food.

AL.com14h agoWhole story →

Economy alabama grocery tax elimination plan

New report examines whether spending requested by Kansas Sen. Roger Marshall raised his property valueIn Washington, U.S. Sen. Roger Marshall has criticized colleagues for steering federal tax dollars to local projects without going through the standard appropriations process. Earmarks, also commonly known as pork-barrel spending, allow lawmakers to advance pet projects in their districts with little oversight. Marshall has described them as wasteful and…

Spokane Spokesman-Review14h agoWhole story →

Government Roger Marshall earmark controversy

Illinois Governor Paid $2.6 Million in Federal and State TaxesIllinois Gov. JB Pritzker (D) and his wife reported $9.4 million in adjusted gross income and paid $2.2 million in federal taxes for tax year 2025, according to tax records released by his campaign Friday.

Bloomberg Tax News13h agoWhole story →

Economy JB Pritzker governor tax records released

Newspapers keep public notices in public viewYou deserve to know when a public decision could change your neighborhood, your tax bill or your child’s school — and you should have an opportunity to speak up before

Richmond Times-Dispatch13h agoWhole story →

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Newsom backs measure to make future wealth taxes more difficultGov. Gavin Newsom just got behind Proposition 42, which, if passed, would act as a kill switch for the billionaire wealth tax.

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New poll reveals broad bipartisan support for AI pause and wealth tax on billionairesA Wall Street Journal poll found that 63% of American adults support a pause on AI development and 61% favor a federal wealth tax on billionaires, with 57% saying the government should regulate AI immediately. The poll reveals a growing convergence of voter sentiment across party lines, driven by deteriorating material conditions and a link […]

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Cuban Blasts ‘Insane’ Khanna Proposal for Wealth Tax Loans (1)Mark Cuban lashed out at Silicon Valley Congressman Ro Khanna over the Democratic lawmaker’s proposal that the government should lend money to billionaires with large paper fortunes to help them pay wealth taxes.

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Gavin Newsom backs measure to kill the billionaire tax and ban future wealth taxesThe governor announced his positions on most of the 14 propositions on the November ballot.

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A first-in-the-nation wealth tax is dividing California’s Democrats

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Mark Cuban’s Arguments Against The Proposed 5% CA Wealth TaxMark Cuban and Rep. Ro Khanna clashed over California Prop 40. Here are Cuban's 4 key arguments against the 5% billionaire wealth tax—and where Khanna pushes back.

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