From Mother Jones · Michael Mechanic · · 1m 30s
Democrats' Seven Ways to Fight Oligarchs
Democrats propose seven policies to curb oligarchic wealth and boost ordinary Americans amid Trump's veto threats.
In brief
Democrats propose seven policies to curb oligarchic wealth and boost ordinary Americans amid Trump's veto threats. Democrats could pass seven laws to reduce wealth inequality and help middle-class Americans by targeting tax breaks, healthcare, and military spending. Originally reported by Mother Jones.
Stop funding the war
Congress could end the Iran war to save tens of billions and pressure Trump to stop military spending hikes.
“Trump stubbornly refuses to accept that the world needs to wean itself off its oil addiction”
Roll back Trump’s tariffs
Congress may limit Trump’s tariffs on Canada and Mexico to protect trade relationships and reduce consumer costs.
“The tariffs on Canada have badly damaged the US relationship with one of our best allies”
Stop taxing low incomes
A tax cut for low and moderate earners would benefit middle-class households while targeting high-income tax surcharges.
“A single filer would pay zero tax on their first $46,000 in earnings”
Restore subsidies
Restoring Medicaid, SNAP, and Obamacare subsidies would help low-income families and reduce healthcare costs.
“The next year, as part of the Inflation Reduction Act, lawmakers temporarily extended subsidies to middle-income households”
Equal Tax Act
The Equal Tax Act targets investment gains for the wealthy while protecting small businesses and family farms.
“The Equal Tax Act applies the 37 percent wage rate to any investment earnings in excess of $1 million”
Restore CFPB
Reviving the Consumer Financial Protection Bureau would protect consumers from predatory financial practices and corporate abuse.
“By June 2025, DOGE had effectively shuttered an agency which returned over $26 billion to the American people”
Medicare for All
Passing Medicare for All would reduce healthcare costs and save 114,000 lives annually by replacing for-profit insurance.
“Replacing commercial insurers with an expanded Medicare system would reduce US healthcare expenditures by more than $1 trillion per year”
Cap retirement tax breaks
Limiting tax breaks for retirement accounts would redirect savings to Social Security and reduce wealth inequality.
“Over the next decade, the government will expend $5 trillion on tax breaks to help Americans save for retirement”
Tax unrealized gains
Taxing unrealized investment gains would target oligarchic wealth without triggering Supreme Court challenges.
“The untaxed growth of unsold investments is the foundation of the soaring oligarchic wealth”
Neuter GRATS
Ending grantor retained annuity trusts would prevent wealthy families from transferring assets tax-free to heirs.
“Congress blew it by passing legislation that enabled these trusts and has yet to undo its mistake”
What it means
Democrats could pass seven laws to reduce wealth inequality and help middle-class Americans by targeting tax breaks, healthcare, and military spending.
