US Billionaire Wealth Surges to $8.1 Trillion as Affordability Crisis Hammers Working Class

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Original article by Jake Johnson republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Elon Musk looks on as US President Donald Trump speaks at the US-Saudi Investment Forum in Washington, DC on November 19, 2025. (Photo by Brendan Smialowski/AFP via Getty Images)

“Billionaires are raking in staggering profits off the backs of ordinary workers,” said Chuck Collins of the Institute for Policy Studies.

The collective wealth of US billionaires surged to $8.1 trillion in 2025 as working-class Americans faced a cost-of-living crisis made worse by President Donald Trump’s tariff regime and unprecedented assault on the social safety net.

An analysis released Friday by the Institute for Policy Studies (IPS) found that the top 15 US billionaires saw the largest wealth gains last year, with their collective fortune growing from $2.4 trillion to $3.2 trillion. That 33% gain was more than double the S&P 500’s 16% increase in 2025.

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What IPS describes as the “elite group” of US billionaires includes Tesla CEO Elon Musk, the richest man in the world; Google co-founder Larry Page; Amazon founder Jeff Bezos; and Oracle executive chairman Larry Ellison.

IPS emphasized that “these staggering combined billionaire wealth totals come as the Trump-GOP budget bill passed in 2025 defunded health insurance, food stamps, and other vital anti-poverty safety net programs, in order to pay for tax cuts for the wealthy and budget increases for militarism and mass deportations.”

“The affordability crisis is hitting ordinary Americans particularly hard as we head into the new year, but not everyone is feeling the pain: Billionaires are raking in staggering profits off the backs of ordinary workers,” Chuck Collins, director of the Program on Inequality and the Common Good at IPS, said in a statement.

“These extreme concentrations of wealth and power,” Collins added, “undermine our daily lives and further rig our economy in favor of the ultra-rich and corporations, while ordinary Americans get a raw deal once again.”

IPS released its analysis days after Bloomberg reported, based on its Billionaires Index, that the world’s 500 richest people gained a record $2.2 trillion in wealth last year.

Omar Ocampo, an IPS researcher, said that in the US, billionaires are “paying far less in taxes compared to the huge amount of wealth they amass,” allowing them to continue accumulating vast fortunes, supercharging inequality, and using their wealth and influence to subvert reform efforts.

“Not only are a small number of Americans holding more wealth than the rest of America, but they’re also not paying their fair share in taxes,” said Ocampo.

The new report comes as families across the US struggle to make ends meet amid high and still-rising prices for groceries, housing, and other necessities. A Century Foundation survey released last month found that “roughly three in 10 voters delayed or skipped medical care in the past year due to cost, while nearly two-thirds switched to cheaper groceries or bought less food altogether.”

Original article by Jake Johnson republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Orcas discuss Donald Trump and the killer apes' concept of democracy. Front Orca warns that Trump is crashing his country's economy and that everything he does he does for the fantastically wealthy.
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
Continue ReadingUS Billionaire Wealth Surges to $8.1 Trillion as Affordability Crisis Hammers Working Class

500 Richest People Gained Record $2.2 Trillion in 2025, Fueling Calls for Wealth Tax

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Original article by Jessica Corbett republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Demonstrators gather outside a Tesla showroom as part of “TeslaTakedown” protest against CEO Elon Musk in New York City on May 3, 2025.  (Photo by Mostafa Bassim/Anadolu via Getty Images)

“If the monstrous political-economic system that is tearing our planet, the climate, and its people apart isn’t brought to its knees—then humanity will be,” warned one climate scientist.

Led by Big Tech billionaires including Jeff Bezos, Larry Ellison, and Elon Musk, the world’s 500 richest people added a record $2.2 trillion to their collective wealth in 2025, Bloomberg reported as the year ended on Wednesday.

“Obscene greed! While billions of people live in poverty,” human rights campaigner Peter Tatchell responded on X—a social media platform now controlled by Musk, the richest person on Earth. “It’s why we need a global wealth tax.”

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Musk—who could become the world’s first trillionaire thanks to his new controversial pay package as CEO of Tesla—is one of just eight ultrawealthy individuals who got around a quarter of all the gains recorded by the Bloomberg Billionaires Index.

The others are Amazon founder Bezos and Oracle chairman Ellison, as well as Michael Dell, Google co-founders Sergey Brin and Larry Page, Jensen Huang of Nvidia, and Meta‘s Mark Zuckerberg. The previous year, Bloomberg noted, “the same eight billionaires made up 43% of the total gains.”

According to Bloomberg, the gains that brought the combined net worth of all 500 people to $11.9 trillion “were turbocharged” by the 2024 election victory of President Donald Trump. The Republican and his relatives were among the “biggest winners” of 2025, gaining at least $282 million, for a net worth of $6.8 billion.

The “winners” also include Musk, who gained $190.3 billion for a net worth of $622.7 billion; Ellison, who gained $57.7 billion for a net worth of $249.8 billion; and Australian mining magnate Gina Rinehart, who gained $12.6 billion for a net worth of $37.7 billion.

After Trump’s electoral win, several Big Tech billionaires buddied up to him, with Bezos, Musk, Zuckerberg, Apple CEO Tim Cook, and Google CEO Sundar Pichai all attending his inauguration. Musk then spent several months spearheading the administration’s attack on federal workforce as the de facto leader of the Department of Government Efficiency (DOGE).

The world’s 500 richest people have total wealth of $11.9tn.Their wealth up by $2.2tn in 2025. 8 billionaires accounting for a 25% of the gains.No one becomes this rich by working.They fund right-wing parties, oppose worker/human rights, cause more pollution than normal people.

Prem Sikka (@premnsikka.bsky.social) 2026-01-01T08:21:14.422Z

Sharing the Guardian‘s coverage of the findings on the social media network Bluesky, British climate scientist Bill McGuire warned that “if the monstrous political-economic system that is tearing our planet, the climate, and its people apart isn’t brought to its knees—then humanity will be.”

The Guardian pointed to Oxfam International’s November statement that $2.2 trillion “would have been more than enough to lift 3.8 billion people out of poverty,” which the humanitarian group highlighted ahead of the Group of 20 Summit hosted by South Africa, whose government used its G20 presidency to push for solutions to global inequality.

“Inequality is a deliberate policy choice. Despite record wealth at the top, public wealth is stagnating, even declining, and debt distress is growing,” Oxfam executive director Amitabh Behar said at the time. “Inequality rips away life opportunities and rights from the majority of citizens, sparking poverty, hunger, resentment, distrust, and instability.”

A June 2024 report from French economist and EU Tax Observatory director Gabriel Zucman—prepared for the G20’s Brazilian presidency—estimated that a global 2% minimum tax on the wealth of 3,000 billionaires could generate about $250 billion.

As seven Nobel laureates, including Joseph Stiglitznoted in a July op-ed published by the French newspaper Le Monde, “By extending this minimum rate to individuals with wealth over $100 million, these sums would increase significantly.”

Original article by Jessica Corbett republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Orcas discuss Donald Trump and the killer apes' concept of democracy. Front Orca warns that Trump is crashing his country's economy and that everything he does he does for the fantastically wealthy.
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
Continue Reading500 Richest People Gained Record $2.2 Trillion in 2025, Fueling Calls for Wealth Tax

‘New Year’s Eve Massacre’: Trump Administration Makes Deep Cuts at FEMA as Climate Crisis Accelerates

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Original article by Brad Reed republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

The FEMA Colorado Task Force 1 navigates the Guadalupe River on a boat as search for victims continues on July 18, 2025 in Center Point, Texas. (Photo by Brenda Bazán / The Washington Post via Getty Images)

A former FEMA official said that the agency “can’t do disaster response and recovery without” the employees being terminated by the Trump administration.

The Trump administration this week made abrupt cuts to the top federal disaster response agency, even as US communities face increased threats from natural disasters caused by the global climate crisis.

Independent journalist Marisa Kabas reported on Wednesday that the Federal Emergency Management Agency (FEMA) “has begun issuing termination notices” to staff at the agency’s Cadre of On-Call Response and Recovery (CORE) that are effective as of January 2.

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A FEMA staffer who spoke with Kabas described the terminations as “The New Year’s Eve Massacre,” and explained that “the driving force behind all CORE employees is supporting and enacting the mission of preparing for, responding to, and recovering from disasters.”

A Thursday report from CNN added some additional details to Kabas’ reporting, including that the decision to issue the layoffs was made by Acting Administrator Karen Evans, who was appointed to the role after former Acting Administrator David Richardson resigned in November.

One former FEMA official bluntly told CNN that the agency “can’t do disaster response and recovery without CORE employees” that are being laid off by the administration.

The former FEMA official added that regional agency offices throughout the US “are almost entirely CORE staff, so the first FEMA people who are usually onsite won’t be there,” which will mean that “states are on their own” when it comes to disaster response.

CNN also reported that there is anxiety among remaining FEMA staffers that these cuts could just be the start “of a larger effort” by Department of Homeland Security Secretary Kristi Noem “to shrink FEMA, potentially axing thousands of workers in the coming months who deploy during hurricanes, wildfires and other national emergencies.”

President Donald Trump has been targeting FEMA for potential termination for nearly a year now, and he said shortly after being inaugurated last January that a goal in his second term would be “fundamentally reforming and overhauling FEMA or maybe getting rid of FEMA,” while emphasizing that individual states should bear the cost of responding to natural disasters.

“I think, frankly, FEMA’s not good,” the president said. “I think when you have a problem like this, I think you want to go, and whether it’s a Democrat or Republican governor, you want to use your state to fix it and not waste time calling FEMA.”

The Trump administration’s deep cuts to FEMA come as the intensity of natural disasters is only projected to increase thanks to climate change.

According to a report published on Tuesday by the Yale School of the Environment, 2025 was the second hottest on record and was only surpassed by the previous year.

“The last three years have been, by a wide margin, the hottest ever recorded,” stressed the report. “Each of the last three years has measured more than 1.5°C warmer than preindustrial times, putting the world at least temporarily in breach of an international goal to limit warming below that level.”

Original article by Brad Reed republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
Continue Reading‘New Year’s Eve Massacre’: Trump Administration Makes Deep Cuts at FEMA as Climate Crisis Accelerates

With Global Attention on Venezuela, Israel Intensifies Assault on Gaza, Lebanon

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Original article by Jessica Corbett republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

A woman carries a child as Palestinians whose homes were destroyed by Israeli attacks try to continue their lives in heavily damaged and unusable buildings in the Hamad al-Shihri area of Khan Younis, Gaza, on January 5, 2026. (Photo by Abed Rahim Khatib/Anadolu via Getty Images)

Israeli forces reported blew up a 5-year-old girl and wounded two other children a day after fatally shooting a 15-year-old boy in Gaza.

With the world captivated by and concerned over the Trump administration’s weekend abduction of Venezuelan President Nicolás Maduro, Israel bombed the Gaza Strip and Lebanon, continuing its devastating US-backed response to the Hamas-led October 2023 attack.

In Gaza, where Israel faces widespread accusations of genocide, an Israeli strike on Monday “hit a tent housing displaced people, killing a 5-year-old girl and her uncle and wounding two other children,” the Associated Press reported, citing officials at Nasser Hospital. “Family members wept over the bodies as they were brought to the hospital.”

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The Israel Defense Forces used one of its common claims for when it kills civilians. According to the AP, the IDF said that it struck a Hamas militant who planned an imminent attack on Israeli troops in Gaza, the strike complied with the ceasefire agreement, and it was conducted in a targeted way to limit civilian harm.

The tent strike in the Muwasi area northwest of Khan Younis came a day after Israeli forces shot and killed at least three Palestinians in that city on Sunday. According to Reuters, “Medics reported that the dead included a 15‑year‑old boy, a fisherman killed outside areas still occupied by Israel in the enclave, and a third man who was shot and killed east of the city in areas under Israeli control.”

Israel has killed at least 422 Palestinians in Gaza and wounded 1,189 since reaching the ceasefire deal with Hamas three months ago. The overall death toll in the strip has climbed to at least 71,388, with another 171,269 people injured, according to local health officials. Global experts warn the true counts are likely far higher.

Meanwhile, according to Al Jazeera, journalists on the ground in the illegally occupied Palestinian territory observed that the IDF “has spent the past 24 hours expanding the so-called ‘yellow line’ in eastern Gaza,” or the boundary behind which Israeli forces officially withdrew as part of the October deal.

Al Jazeera‘s Hani Mahmoud reported from Gaza City:

The ongoing Israeli attacks on the ground, the expansion of the “yellow line,” are meant to eat up more of the territory across the eastern part, really shrinking the total area where people are sheltering.

Everyone is cramped here. The population here not just doubled but tripled in many of the neighborhoods, given the fact that none of these people is able to go back to their neighborhoods. We’re talking about Zeitoun, Shujayea, as well as Tuffah.

It was not until the past few minutes that the sounds of hums, the drones buzzing, faded away, but it had been going on for the past night and all of yesterday. Ongoing explosions that could be heard clearly from here.

Mahmoud also reported that “there’s nothing on the ground other than the headlines we’ve been reading over the past couple of days, the expectation now that within days the Rafah crossing is going to open and allow for movement in and out of Gaza. So far, we know the Israeli military is pushing for Rafah to be just a one-way exit.”

Throughout the Israeli assault, far-right officials in Israel have ramped up calls to ethnically cleanse Gaza of its Palestinian population and recolonize the territory. There has also been a surge in violence from Israeli settlers and soldiers against Palestinians in the illegally occupied West Bank over the past two years, as well as renewed settlement-building efforts there.

Laila Al-Arian, an American journalist and executive producer for Al Jazeera‘s documentary series “Fault Lines,” said on social media Sunday, “With eyes on Venezuela, Israel is bombing Gaza and escalating its assault on the West Bank.”

In November 2024, nearly a year before the ceasefire agreement in Hamas, Israel struck a deal with the Lebanese political and paramilitary group Hezbollah—and, since then, as with Gaza, has repeatedly violated it.

Israel launched strikes on eastern and southern Lebanon on Monday after an IDF spokesperson said the military would target alleged Hezbollah sites in Kfar Hatta and Ain el-Tineh, and Hamas sites in Annan and al-Manara.

Al Jazeera reported that “Lebanon’s Health Ministry said a drone strike on a car in the southern village of Braikeh earlier Monday wounded two people. The Israeli military said the strike targeted two Hezbollah members.”

Original article by Jessica Corbett republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Experiencing issues with this image not appearing. I suspect because it's so critical of Zionist Keir Starmer's support of and complicity in Israel's genocides.
Genocide denier and Current UK Prime Minister Keir Starmer is quoted that he supports Zionism without qualification. He also confirms that UK air force support has been essential in Israel’s mass-murdering genocide. Includes URLs https://www.declassifieduk.org/keir-starmers-100-spy-flights-over-gaza-in-support-of-israel/ and https://youtu.be/O74hZCKKdpA
Keir Starmer objects to criticism of the IDF. He asks how could anyone object to them starving people to death, forced marches like the Nazis did, bombing Gaza's hospitals and universities, mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He calls for people to stop obstructing his genocide for Israel.
Keir Starmer objects to criticism of the IDF. He asks how could anyone object to them starving people to death, forced marches like the Nazis did, bombing Gaza’s hospitals and universities, mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He calls for people to stop obstructing his genocide for Israel.
Orcas discuss Genocide-supporting and complicit Zionists. Donald Trump, Keith Starmer, David Lammy, Rachel Reeves, Angela Rayner and Wes Streeting are acknowledged as evil genocide-complicit and supporting cnuts.
Orcas discuss Genocide-supporting and complicit Zionists. Donald Trump, Keith Starmer, David Lammy, Rachel Reeves, Angela Rayner and Wes Streeting are acknowledged as evil genocide-complicit and supporting cnuts.

Continue ReadingWith Global Attention on Venezuela, Israel Intensifies Assault on Gaza, Lebanon

Morning Star Editorial: Trump won’t stop here. Britain must break with him

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https://morningstaronline.co.uk/article/trump-wont-stop-here-britain-must-break-him

 President Donald Trump listens as he was speaking with reporters while in flight on Air Force One, Sunday, Jan. 4, 2026, as returning to Joint Base Andrews, Md

THIS doesn’t end here. Unless the United States faces consequences for what it is doing in Venezuela it will do it, or try to, again and again.

It says so itself — one reason Keir Starmer, Friedrich Merz, Emmanuel Macron and other Trump appeasers appear so ridiculous.

When Trump in his first term blurted out that US forces were in Syria “only for the oil,” his allies’ embarrassment could be glossed over by a media unwilling to expose years of its own propaganda about humanitarian interventions and counter-terror operations.

Not now. Trump kidnaps a head of state and then announces Washington will “run” his country.

What does that mean? Well, what remains of the Venezuelan government must grant Washington “total access. We need access to the oil and to other things in their country.” What if Venezuela’s Vice-President Delcy Rodriguez won’t do as she’s told? She’ll face “a situation worse than Maduro.” Maybe killed in the kidnapping operation, like the 32 brave Cuban soldiers who died defending her boss.

The Trump White House narrative is in our faces every day. Who can take seriously Merz’s call for an explanation on how US actions are justified in international law, when Secretary for War Pete Hegseth vows to pursue “maximum lethality not tepid legality?” The politicians of the old Washington Consensus merely look pathetic through their “hear no evil, see no evil” approach to the new one.

Hence the backlash against Starmer’s feeble fence-sitting, involving MPs well beyond the socialist left (such as Emily Thornberry), the TUC and the rapidly growing Greens.

There are half-hearted efforts to depict Venezuela as a special case. But again the Trump White House’s loudmouth assertions undermine the pretence.

Attacking Colombia and removing its elected president “sounds good to me,” says Trump. Cuba’s government is “going down.” The US “has to do something with Mexico,” “needs Greenland, absolutely.”

Article continues at https://morningstaronline.co.uk/article/trump-wont-stop-here-britain-must-break-him

Donald Fuhrump says that Amerikkka doesn't bother with crimes or charges anymore, not being 100% Amerikkkan and opposing his real estate intentions is enough.
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Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
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Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.

Continue ReadingMorning Star Editorial: Trump won’t stop here. Britain must break with him