From the technological Olympus of Silicon Valley to the urban canyons of Wall Street, a narrow club of vastly wealthy plutocrats sits on a ballooning share of the nation’s resources. One percent of Americans at the apex of the economy are hoarding over 31% of the nation’s total wealth, a cool $55tn in net worth.

Getting them to share with the rest of society, to fund redistribution or pay for public goods, is proving pretty much impossible. Their ability to move resources around, hide profit across jurisdictions, and minimize income to hoard wealth until they die appears to put them beyond the reach of taxation.

One recent research paper found that the country’s richest 384 oligarchs paid only 24% of their economic income in 2025, compared with 30% for the average taxpayer. And not all of them are getting top notch tax advice. Reporting by ProPublica revealed that some of the richest Americans – like Elon Musk, Jeff Bezos, Warren Buffett and Michael Bloomberg – live largely tax free.

  • BarneyPiccolo@lemmy.today
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    2 days ago

    The survival of the WORLD. These Sociopathic Oligarchs are reaching Trillionaire status, and once one gets there, they’re ALL going to want it. And once they do, they will be able to build armies, especially if they form alliances. Then they can form their own sovereign nation, and start pushing the world around.

    Why do you think Kushner and Ivanka are pushing that Albanian island as a resort for the super-rich? It just happens to contain miles of fortified bunker that were designed to withstand a NATO attack. It also sits at the opening of a strait that controls much of the shipping to and from Eastern Europe. It would be the perfect stronghold for the Sociopathic Oligarchs to hide from the world, with a strait they can leverage for power.

    They are planning on creating their own country, and taking over the world. Taxing them is a start, but it won’t be enough. They are mentally ill, with OCD manifesting as a Financial Hoarding Disorder. They can’t stop, and they will even kill millions of people to accumulate even more money that they don’t need. They must be stopped, their hoards confiscated, and they must be punished for their crimes, on a global basis.