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2% Wealth Tax Promises £15bn Amid Billionaire Power Surge

6/16/2026

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Summary

Story summary

A 2% tax on fortunes $100 million could raise £15 billion, after showing billionaires pay minimal income tax and Jeff Bezos claimed the child tax credit.
The top 0.00001% of United States (U.S.) households hold 14% of GDP and gave 20% of 2024 election donations.
Elon Musk’s $44 billion 2022 Twitter purchase let him aid President Donald Trump’s re-election and shut down USAID, which the Lancet warns could cause 14 million deaths by 2030.

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Story summary

A 2% tax on fortunes $100 million could raise £15 billion, after showing billionaires pay minimal income tax and Jeff Bezos claimed the child tax credit.
The top 0.00001% of United States (U.S.) households hold 14% of GDP and gave 20% of 2024 election donations.
Elon Musk’s $44 billion 2022 Twitter purchase let him aid President Donald Trump’s re-election and shut down USAID, which the Lancet warns could cause 14 million deaths by 2030.