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      Musk posts baseless conspiracy theory about Paul Pelosi attack on Twitter

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      Musk posts baseless conspiracy theory about Paul Pelosi attack on TwitterPost comes days after Musk takes over social media platform amid concern that hate speech will run rampant under his leadership Elon Musk was criticized on Sunday after posting a baseless conspiracy theory about the assault of Paul Pelosi to Twitter – the social media giant he took over several days ago with a promise to impose less restrictions on its content.Paul Pelosi, husband of US House speaker Nancy Pelosi, was attacked with a hammer at their California home on Friday. The attacker, identified by authorities as David DePape, allegedly said “Where is Nancy?” during the attack; president Joe Biden said that she appeared to be the intended target.Musk’s sharing of the conspiracy theory stemmed from a tweet by Hillary Clinton on Saturday. The Democratic former senator shared a Los Angeles Times story about DePape’s apparent far-right leanings.“The Republican Party and its mouthpieces now regularly spread hate and deranged conspiracy theories,” Clinton said, according to the Los Angeles Times. “It is shocking, but not surprising, that violence is the result. As citizens, we must hold them accountable for their words and the actions that follow.”Musk responded by tweeting that “there is a tiny possibility there might be more to this story than meets the eye,” and shared a link to a post that presented an unfounded conspiracy theory on the hammer attack, the Times reported. This conspiracy post was in the Santa Monica Observer, which the Times described as being “notorious for publishing false news”.Dan Moynihan, a public policy professor at Georgetown University, said in the wake of Musk’s tweet: “A big problem in contemporary American politics is that one party has become obsessed with conspiracy theories, encouraging radical responses including anti-democratic actions and violence. Musk will just make the problem worse.”Musk deleted the response by early Sunday afternoon, according to NBC News. Prior to its deletion, however, it had received in excess of 24,000 retweets and 86,000 likes.“The latest conspiracy theory about Paul Pelosi’s attack is frankly too disgusting to print,” said NBC News reporter Ben Collins, in response to Musk’s retweet.The world’s richest man’s apparent sharing of this post comes amid concern that hate-speech and harassment will run rampant under his leadership. Musk has tried to ease concerns about an increase in harmful posts under his ownership, such as his announcement that there would be a new content moderation counsel.Musk suggested that a better approach would be to divide Twitter into various strands. This approach would see users applying content ratings on their posts, and engaging in online disputes, within a special space on the platform.The Guardian has reached out to Twitter for comment.TopicsElon MuskNancy PelosiUS politicsTwitternewsReuse this content More

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      The US ultra-rich justify their low tax rates with three myths – all rubbish | Robert Reich

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      The US ultra-rich justify their low tax rates with three myths – all of them rubbishRobert ReichA record share of the nation’s wealth is in the hands of billionaires, who pay a lower tax rate than the average American. This is indefensible On Tuesday, the Congressional Budget Office released a study of trends in the distribution of family wealth between 1989 and 2019.Over those 30 years, the richest 1% of families increased their share of total national wealth from 27% to 34%. Families in the bottom half of the economy now hold a mere 2%.Meanwhile, a record share of the nation’s wealth remains in the hands of the nation’s billionaires, who are also paying a lower tax rate than the average American.How do the ultra-wealthy justify their wealth and their low tax rates? By using three myths – all of which are utter rubbish.The first is trickle-down economics.Billionaires (and their apologists) claim that their wealth trickles down to everyone else as they invest it and create jobs.Really? For more than 40 years, as wealth at the top has soared, almost nothing has trickled down. Adjusted for inflation, the median wage today is barely higher than it was four decades ago.Trump provided a giant tax cut to the wealthiest Americans, promising it would generate $4,000 increased income for everyone else. Did you receive it?In reality, the super-wealthy don’t create jobs or raise wages. Jobs are created when average working people earn enough money to buy all the goods and services they produce, pushing companies to hire more people and pay them higher wages.The second myth is the “free market”.The ultra-rich claim they’re being rewarded by the impersonal market for creating and doing what people are willing to pay them for.The wages of other Americans have stagnated, they say, because most Americans are worth less in the market now that new technologies and globalization have made their jobs redundant.Baloney. Even if they’re being rewarded, there’s no reason why the “free market’ would reward vast multiples of what the rich were rewarded with decades ago.The market can induce great feats of invention and entrepreneurship with lures of hundreds of thousands or even millions of dollars – not billions.As to the rest of us succumbing to labor-replacing globalization and labor-saving technologies, no other advanced nation has nearly the degree of inequality found in the United States, yet all these nations have been exposed to the same forces of globalization and technological change.In reality, the ultra-wealthy have rigged the so-called “free market” in the US for their own benefit. Billionaires’ campaign contributions have soared from a relatively modest $31m in the 2010 elections to $1.2bn in the most recent presidential cycle – a nearly 40-fold increase.What have they got for their money? Tax cuts, freedom to bash unions and monopolize markets and government bailouts. Their pockets have been further lined by privatization and deregulation.The third myth is that they’re superior human beings.They portray themselves as “self-made” rugged individuals who “did it on their own” and therefore deserve their billions.Bupkis. Six of the 10 wealthiest Americans alive today are heirs to fortunes passed on to them by wealthy ancestors.Others had the advantages that come with wealthy parents.Jeff Bezos’s garage-based start was funded by a quarter-million-dollar investment from his parents. Bill Gates’s mother used her business connections to help land a software deal with IBM that made Microsoft. Elon Musk came from a family that reportedly owned shares of an emerald mine in southern Africa.Don’t fall for these three myths.Trickle-down economics is a cruel joke.The so-called free market has been distorted by huge campaign contributions from the ultra-rich.Don’t lionize the ultra-rich as superior “self-made” human beings who deserve their billions. They were lucky and had connections.In reality, there is no justification for today’s extraordinary concentration of wealth at the very top. It’s distorting our politics, rigging our markets and granting unprecedented power to a handful of people.The last time America faced anything comparable was at the start of the 20th century.In 1910, former president Theodore Roosevelt warned that “a small class of enormously wealthy and economically powerful men, whose chief object is to hold and increase their power” could destroy American democracy.Roosevelt’s answer was to tax wealth. The estate tax was enacted in 1916, and the capital gains tax in 1922.Since that time, both have eroded. As the rich have accumulated greater wealth, they have also amassed more political power – and have used that political power to reduce their taxes.Teddy Roosevelt understood something about the American economy and the ultra-rich that has now re-emerged, even more extreme and more dangerous. We must understand it, too – and act.
      Robert Reich, a former US secretary of labor, is professor of public policy at the University of California, Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com
      TopicsUS politicsOpinionInequalityTax and spendingJeff BezosElon MuskBill GatescommentReuse this content More

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      The US has a ruling class – and Americans must stand up to it | Bernie Sanders

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      The US has a ruling class – and Americans must stand up to itBernie SandersIn the year 2022, three multibillionaires own more wealth than the bottom half of American society – 160 million Americans. This is unsustainable Let’s be clear. The most important economic and political issues facing this country are the extraordinary levels of income and wealth inequality, the rapidly growing concentration of ownership, the long-term decline of the American middle class and the evolution of this country into oligarchy.We know how important these issues are because our ruling class works overtime to prevent them from being seriously discussed. They are barely mentioned in the halls of Congress, where most members are dependent on the campaign contributions of the wealthy and their Super Pacs. They are not much discussed in the corporate media, in which a handful of conglomerates determine what we see, hear and discuss.So what’s going on?We now have more income and wealth inequality than at any time in the last hundred years. In the year 2022, three multibillionaires own more wealth than the bottom half of American society – 160 million Americans. Today, 45% of all new income goes to the top 1%, and CEOs of large corporations make a record-breaking 350 times what their workers earn.Meanwhile, as the very rich become much richer, working families continue to struggle. Unbelievably, despite huge increases in worker productivity, wages (accounting for real inflation) are lower today than they were almost 50 years ago. When I was a kid growing up, most families were able to be supported by one breadwinner. Now an overwhelming majority of households need two paychecks to survive.Today, half of our people live paycheck to paycheck and millions struggle on starvation wages. Despite a lifetime of work, half of older Americans have no savings and no idea how they will ever be able to retire with dignity, while 55% of seniors are trying to survive on an income of less than $25,000 a year.Since 1975, there has been a massive redistribution of wealth in America that has gone in exactly the wrong direction. Over the past 47 years, according to the Rand Corporation, $50tn in wealth has been redistributed from the bottom 90% of American society to the top 1%, primarily because a growing percentage of corporate profits has been flowing into the stock portfolios of the wealthy and the powerful.During this terrible pandemic, when thousands of essential workers died doing their jobs, some 700 billionaires in America became nearly $2tn richer. Today, while the working class falls further behind, multibillionaires like Elon Musk, Jeff Bezos and Richard Branson are off taking joyrides on rocket ships to outer space, buying $500m super-yachts and living in mansions with 25 bathrooms.Disgracefully, we now have the highest rate of childhood poverty of almost any developed nation on Earth and millions of kids, disproportionately Black and brown, face food insecurity. While psychologists tell us that the first four years are the most important for human development, our childcare system is largely dysfunctional – with an inadequate number of slots, outrageously high costs and pathetically low wages for staff. We remain the only major country without paid family and medical leave.In terms of higher education, we should remember that 50 years ago tuition was free or virtually free in major public universities throughout the country. Today, higher education is unaffordable for millions of young people. There are now some 45 million Americans struggling with student debt.Today over 70 million Americans are uninsured or underinsured and millions more are finding it hard to pay for the rising cost of healthcare and prescription drugs, which are more expensive here than anywhere else in the world. The cost of housing is also soaring. Not only are some 600,000 Americans homeless, but nearly 18m households are spending 50% or more of their limited incomes on housing.It’s not just income and wealth inequality that is plaguing our nation. It is the maldistribution of economic and political power.Today we have more concentration of ownership than at any time in the modern history of this country. In sector after sector a handful of giant corporations control what is produced and how much we pay for it. Unbelievably, just three Wall Street firms (Blackrock, Vanguard and State Street) control assets of over $20tn and are the major stockholders in 96% of S&P 500 companies. In terms of media, some eight multinational media conglomerates control what we see, hear and read.In terms of political power, the situation is the same. A small number of billionaires and CEOs, through their Super Pacs, dark money and campaign contributions, play a huge role in determining who gets elected and who gets defeated. There are now an increasing number of campaigns in which Super Pacs actually spend more money on campaigns than the candidates, who become the puppets to their big money puppeteers. In the 2022 Democratic primaries, billionaires spent tens of millions trying to defeat progressive candidates who were standing up for working families.Dr Martin Luther King Jr was right when he said: “We must recognize that we can’t solve our problem now until there is a radical redistribution of economic and political power” in America. That statement is even more true today.Let us have the courage to stand together and fight back against corporate greed. Let us fight back against massive income and wealth inequality. Let us fight back against a corrupt political system.Let us stand together and finally create an economy and a government that works for all, not just the 1%.
      Bernie Sanders is a US senator from Vermont and the chairman of the Senate budget committee
      TopicsUS politicsOpinionUS CongressBernie SandersRichard BransonElon MuskUS economyJeff BezoscommentReuse this content More

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      Elon Musk hits back at Trump and says ex-president should ‘hang up his hat’

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      Elon Musk hits back at Trump and says ex-president should ‘hang up his hat’Tesla chief tweets that ex-president should ‘sail into the sunset’ after Trump calls Musk a ‘bullshit artist’ over Twitter bid Stepping up an ongoing verbal clash between the two men, Elon Musk said Donald Trump should “hang up his hat” and is too old to run for the Oval Office in 2024, as a poll shows the former president is losing support among Republican voters.“I don’t hate the man, but it’s time for Trump to hang up his hat & sail into the sunset,” Musk tweeted late Monday, using the same social media platform that he first tried to buy and is now trying to walk away from. The billionaire businessman’s tweet came after Trump, at a public appearance in Alaska last weekend, called Musk a “bullshit artist” over the Twitter sale.Elon Musk may have to complete $44bn Twitter takeover, legal experts sayRead moreMusk further tweeted that Democrats – who hold seven of the nine seats on the congressional committee investigating the deadly January 6 attack on the Capitol by Trump’s supporters – “should also call off the attack”.“Don’t make it so that Trump’s only way to survive is to regain the presidency,” Musk wrote.Trump would be 78 when the 2024 presidential election is held. If he ignores Musk’s suggestion to hang it up and wins, Trump would be 82 at the end of his second presidential term.Musk on Friday filed notice to withdraw his $44bn bid to buy Twitter, after the company agreed in late April to sell to him. He argued that the platform had failed to provide promised information on fake and spam accounts, though many observers have noted that tech stocks have plummeted recently, making the sale price look much higher.It’s unlikely Musk will walk away easily. Twitter said Musk backing out was “invalid and wrongful” and is suing him to enforce a provision in the agreement that may compel him to go through with acquiring the platform, assuming he had the financing for it – which the businessman said in May that he had.Trump spoke up after Friday’s announcement, saying the Tesla and SpaceX chief’s deal with Twitter was “rotten” anyway.The Trump-Musk spat has gone on for a while: Musk said he was contemplating supporting Florida’s governor, Ron DeSantis, as the Republican candidate in the 2024 presidential race.In Alaska, Trump claimed Musk said he’d previously voted for him; Musk has denied it, though he has also criticized Twitter for banning Trump’s account on the platform after the Capitol attack.If Musk did vote for Trump, he isn’t alone in having a change of heart, a recent poll from the New York Times and Siena College found. Nearly half of Republican party primary voters are interested in supporting someone other than Trump in the 2024 election, and 16% even indicated that if he was the GOP nominee they would support president Joe Biden, vote for a protest candidate, abstain from voting or be unsure of what to do, according to the poll.That may not sound like much, but that number among Democrats if Biden were to face Trump was 8%, the poll said.TopicsElon MuskDonald TrumpUS elections 2024US politicsReuse this content More

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      Musk muses about Mars and Earth – but stays quiet on Twitter deal

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      Musk muses about Mars and Earth – but stays quiet on Twitter dealBillionaire avoids talking of collapse of $44bn deal but talks about colonizing Mars and boosting Earth’s birthrates at conference Elon Musk reportedly talked about the colonization of Mars and boosting Earth’s birthrates during his keynote address at Allen & Co’s Sun Valley conference on Saturday, but he avoided discussing his attempt to withdraw from his $44bn bid to buy Twitter.Musk’s talk to close out this year’s edition of the Idaho conference which annually draws tech, media and finance gurus became one of the hottest tickets after lawyers for the Tesla boss filed notice Friday that he was terminating his bid to acquire Twitter. The billionaire accused the social media firm of failing to provide information on bot accounts, among other things, making observers wonder whether he would address such complaints at his speech scheduled for the next day.Elon Musk withdraws $44bn bid to buy Twitter after weeks of high dramaRead moreBut Musk – who is also chief of the private rocket company SpaceX – declined to do so. Instead, he mused about how he viewed Mars as a “civilian life insurance” if a disaster ever wiped out Earth, Bloomberg reported, citing the recollections of multiple people at the closed-door speech.The remarks on Mars echoed a tweet from him earlier this year that humans could land on the planet by 2029.Reuters, who reported speaking with attendees as well, wrote that Musk also expressed concern over the decline of birthrates in wealthy countries. And, Bloomberg added, he also renewed complaints about how Twitter had banned Donald Trump after the former president’s supporters staged the deadly US Capitol attack in early January 2021.It wasn’t immediately clear whether Musk was aware that Trump had called him a “bullshit artist” and his actions with Twitter “rotten” on Saturday while stumping for Republican political candidates in Alaska.Trump’s insult came after Musk last month said he was mulling throwing his support behind Florida’s governor, Ron DeSantis, rather than Trump as the Republican challenger to the Democrats’ Joe Biden in the 2024 presidential election.The chief executive officer of OpenAI, Sam Altman, reportedly moderated Musk’s talk Saturday.Musk’s withdrawal from Twitter deal sets stage for long court battleRead moreMusk may be in for a lengthy legal battle after notifying the public of his intent to withdraw from buying Twitter.Twitter chairperson Bret Taylor said the social media platform could sue Musk in a Delaware court to enforce the purchase deal they had struck with the world’s richest man. The agreement contained a provision that may force Musk to buy Twitter as long as he has financing in place, which the businessman said he had in May.Musk could also be fined $1bn if he goes through with ditching the deal, though he is trying to avoid the penalty by alleging that Twitter breached “multiple provisions” of its sale agreement.TopicsElon MuskTwitterUS politicsInternetnewsReuse this content More

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      Elon Musk suggests he may vote for Republican Ron DeSantis in 2024

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      Elon Musk suggests he may vote for Republican Ron DeSantis in 2024World’s richest man says in tweet he is leaning towards Florida governor after voting Republican in Texas special election The tech billionaire Elon Musk said on Wednesday that he would possibly vote for Florida’s Republican governor, Ron DeSantis, if he were to run in the 2024 US presidential election.The billionaire tech mogul’s expression of support for DeSantis, albeit vague, was among several tweets in which he discussed some of his political leanings after he recently declared himself a Republican.Musk claimed to back the successful Republican congressional candidate Mayra Flores during a special election in Texas on Tuesday.“I voted for Mayra Flores – first time I ever voted Republican. Massive red wave in 2022,” Musk said.Mayra Flores wins special election to turn Texas House seat RepublicanRead more“I assume republican for president 2?” an account called Tesla Owners Silicon Valley asked.Musk replied, “tbd,” prompting the follow-up: “What are you leaning towards?”“DeSantis,” Musk said.Musk’s seeming support of DeSantis comes as the high-profile Republican – who is both a staunch ally to Donald Trump as well as a potential rival – appears to be a strong contender in the party’s presidential primary.The rising star has bested Trump in recent polls of Republican activists, as some conservative diehards seem to be tiring of the ex-president’s insistence that he won the 2020 election.Trump’s “big lie” claim has repeatedly been proven wrong. Joe Biden won the presidency and there is no evidence that he did so unlawfully.DeSantis has been ramping up his efforts to position himself as a true conservative. He has signed into law legislation that strips Black voters’ power through gerrymandering congressional districts to benefit Republicans, for example. DeSantis also curtailed the discussion of race and diversity in schools and businesses. He has also signed off on bills that ban discussion of gender identity and sexual orientation in some Florida classrooms with his “Don’t Say Gay” legislation.His attack on what he called “wokeism” has come to include bans on math textbooks that supposedly include “prohibited” subjects, such as critical race theory. He has also tried banning medical care for transgender youths and engaged in a sparring match with Disney.Disney publicly opposed DeSantis’s attack on LBGTQ+ rights. DeSantis’s dogged rhetoric on social issues has built a strong brand, with political science professor Michael Binder previously telling the Guardian: “He’s nicknamed Governor Grievance.”TopicsRepublicansElon MuskUS politicsRon DeSantisnewsReuse this content More

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      Elon Musk targets Bernie Sanders over tax: ‘I keep forgetting you’re still alive’

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      Elon Musk targets Bernie Sanders over tax: ‘I keep forgetting you’re still alive’
      Tesla founder responds to senator’s ‘fair share’ tweet
      Musk sold nearly $7bn of stock after controversial Twitter poll
      Biden approval ratings plunge amid crisis over inflation
      Elon Musk waded into yet another Twitter controversy on Sunday, the Tesla owner and world’s richest person responding to a tweet about tax from Senator Bernie Sanders by writing: “I keep forgetting that you’re still alive.”If the super-rich want to live for ever our planet is truly doomed | John HarrisRead moreSanders, 80, wrote: “We must demand that the extremely wealthy pay their fair share. Period.”Musk, 50, is also the owner of SpaceX and has a personal worth estimated at around $271bn, making him by some counts the richest person ever.He also tweeted: “Want me to sell more stock, Bernie? Just say the word …”Sanders did not immediately respond. Melissa Byrne, a progressive activist and former Sanders staffer, tweeted: “Folks, quit buying Tesla. Don’t reward abusive men.”This week, Musk sold nearly $7bn of shares in Tesla, more than $5bn after asking Twitter followers to vote on whether he should do so and more than $1bn on Friday.Jason Benowitz, senior portfolio manager at Roosevelt Investment Group in New York, told Reuters: “We expect the share sales will continue, as Musk holds millions of options worth billions of dollars that would otherwise expire worthless, and he has also prearranged share sales.”Tesla’s share price fell after Musk’s Twitter followers said he should sell stock. But the shares remain hugely valuable.Musk staged the Twitter poll to make a point about a “billionaires tax” proposed by Democrats in Congress, saying: “Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”Proponents of the billionaires tax say they want to target “unrealised capital gains”, meaning rises in the value of stocks owned by ultra-rich Americans who currently pay very little in tax.Sanders is a democratic socialist independent from Vermont who caucuses with Democrats in the Senate. He rose to global prominence with strong runs for the Democratic presidential nomination in 2016 and 2020, losing out to Hillary Clinton and then Joe Biden.As chair of the Senate budget committee and a champion of fairness in taxation, Sanders is pushing for Biden’s Build Back Better package of spending on health and social care and climate crisis mitigation to make it out of Congress and into law.Build Back Better would be funded by tax increases on corporations and the very wealthy. The billionaires tax is not part of the package but its chief proponent, Senator Ron Wyden of Oregon, condemned Musk’s Twitter stunt last week.Saying he wanted to “ensure billionaires pay tax every year, just like working Americans”, Wyden added: “Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll.”Musk has a history of controversial – and sometimes costly – behaviour on social media. In October, he responded to Wyden’s tax proposals with a tweet.“Eventually they run out of other people’s money and then they come for you.”TopicsElon MuskUS taxationBernie SandersUS politicsUS domestic policyTeslanewsReuse this content More

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      Senator behind billionaires tax denounces Elon Musk Twitter poll stunt

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      US taxationSenator behind billionaires tax denounces Elon Musk Twitter poll stuntTesla owner offers to sell 10% of shares – as poll demandsRon Wyden has proposed tax to help fund Biden plans Martin Pengelly in New York@MartinPengellySun 7 Nov 2021 14.19 ESTFirst published on Sun 7 Nov 2021 07.45 ESTAfter Elon Musk asked his Twitter followers to vote on whether he should sell 10% of his Tesla stock, the architect of the proposed billionaires tax that prompted the move dismissed the tweet as a stunt.It’s not all about the culture war – Democrats helped shaft the working class | Robert ReichRead more“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll,” said Ron Wyden, an Oregon Democrat and chair of the Senate finance committee. “It’s time for the billionaires income tax.”When the poll closed on Sunday, nearly 3.5 million people had voted: 58% said Musk should sell the Tesla stock and 42% said he should not.Asked for comment, he tweeted: “I was prepared to accept either outcome.”Musk, who also owns SpaceX, was named by Forbes magazine as the first person worth more than $300bn. Reuters calculated that selling 10% of his Tesla shareholding would raise close to $21bn.Wyden has led Democrats pushing for billionaires to pay taxes when stock prices go up even if they do not sell shares, a concept called “unrealised gains”.Proponents of the tax say it would affect about 700 super-rich Americans, who would thus help pay for Joe Biden’s $1.75tn 10-year public spending proposal, which seeks to boost health and social care and to fund initiatives to tackle the climate crisis.Unveiling his proposal last month, Wyden said: “There are two tax codes in America. The first is mandatory for workers who pay taxes out of every paycheck. The second is voluntary for billionaires who defer paying taxes for years, if not indefinitely.“The billionaires income tax would ensure billionaires pay tax every year, just like working Americans. No working person in America thinks it’s right that they pay their taxes and billionaires don’t.”Musk has a history of controversial behaviour on Twitter. Responding to Wyden’s original proposal, he tweeted: “Eventually, they run out of other people’s money and then they come for you.”On Saturday, he said: “Much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?“I will abide by the results of this poll, whichever way it goes. Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”In one response, the Berkeley economist Gabriel Zucman tweeted: “Looking forward to the day when the richest person in the world paying some tax does not depend on a Twitter poll.”When Wyden introduced his proposed billionaires tax, Chuck Marr of the Center on Budget and Policy Priorities, a nonpartisan think tank, used the example of Jeff Bezos, with Musk a competitor for the title of world’s richest person, to explain how the proposal would work.The Amazon founder, Marr said, would contribute to the federal government on the basis of unrealised gains from his stock holdings, worth around $10bn, rather than a declared salary of around $80,000.Citing a bombshell ProPublica report from June this year which showed how little Bezos, Musk and other super-rich Americans pay into federal coffers, Marr titled his analysis: “Why a billionaires tax makes sense – or why the richest people in the country should pay income taxes as if they were the richest people in the country.”Democrats ‘thank God’ for infrastructure win after state election warningsRead moreThe Biden spending plan Wyden wants to help fund, known as Build Back Better, remains held up in Congress. House centrists are demanding nonpartisan analysis of its costs while centrist senators remain opposed to many of its goals.Democrats are also split over the proposed billionaires tax. Among those opposed is Joe Manchin, the senator from West Virginia who with Kyrsten Sinema of Arizona stands in the way of Build Back Better, wielding tremendous power in a chamber split 50-50 and therefore controlled by the casting vote of Vice-President Kamala Harris.Speaking to reporters in October, Manchin said: “Everybody in this country that has been blessed and prospered should pay a patriotic tax.“If you’re to the point where you can use all of the tax forms to your advantage, and you end up with a zero tax-liability but have had a very, very good life and have had a lot of opportunities, there should be a 15% patriotic tax.”TopicsUS taxationElon MuskUS domestic policyBiden administrationUS SenateUS CongressUS politicsnewsReuse this content More