“Gas is over $5 a gallon. Why? Well, oil companies made $93 billion in profits in the first quarter and are spending $88 billion on stock buybacks.” Sen. Bernie Sanders on Thursday slammed oil companies for raking in huge profits on the backs of U.S. consumers and reiterated his case for a windfall tax, a demand […]
“It is common sense” to use such a tax to provide rebates to consumers, argued Rep. Ro Khanna. “You have these oil companies making record profits at a time of a national emergency.” Progressive members of Congress on Wednesday ramped up calls for a windfall profits tax on oil giants after President Joe Biden pleaded directly […]
“We reject the narrative that this country cannot afford to invest in a better world.” An analysis released Monday to mark Tax Day in the United States shows that the country’s 735 billionaires have seen their collective wealth soar by 62% over the past two years while worker earnings have grown just 10%, modest gains eaten away by […]
Just a day after U.S. President Joe Biden officially unveiled a plan to boost taxes on wealthy Americans, Sen. Joe Manchin on Tuesday signaled that he intends to block progress on yet another White House priority. [pullquote]”Billionaires purposefully don’t take incomes—they borrow against their wealth to fund their lifestyles (buy, borrow, and die.)”[/pullquote] Former Democratic Michigan […]