Archives for category: Billionaires

The German data company Datapulse released a report showing the vast and growing power of billionaires in the U.S. The report confirms your and my suspicions about the rigging of our economy and our politics. Surely it’s no surprise that Trump’s Cabinet is packed with billionaires. Guess who they are looking out for? Not you.

They cheered on Elon Musk’s ignominious DOGS as they slashed vital government programs. They didn’t complain when Musk closed USAID, causing the ultimate deaths of millions of children and parents because of the halt in US food, medicine and health clinics.

They are thrilled to see Trump send in the troops to halt protests against ICE tactics.

A democracy is supposed to be of the people, for the people, by the people. We are rapidly devolving into an autocratic regime where the rich run the show.

Here is what Datapulse found:

The report, “The Rich Aren’t Just Getting Richer—They’re Running the Show” moves beyond familiar headlines to provide fresh, specific data points on wealth, power, and policy.

Key findings include:

  • The Myth of “Tax Flight”: Contrary to popular narratives, the mega-rich are not fleeing high-tax states. Our data shows that California and New York, states with progressive tax codes, are home to 40% of all U.S. billionaires.
  • Explosive Growth: The number of U.S. billionaires has nearly tripled since 2007, growing from 329 to 877 today. This trajectory is unique to America; China’s billionaire class, by comparison, is stalling.
  • The Rise of the Billionaire Political Class: In the post-Citizens United era, the top 10 political donors, all billionaires, contributed over $420 million in the 2024 cycle alone, directly translating wealth into political influence.
  • Policy for the Few: The study analyzes the direct impact of billionaire-backed policy, such as the House’s 2025 “Big Beautiful Bill,” which could see billionaires gain over $390,000 in annual after-tax income while households earning under $51,000 see their incomes shrink.
  • Concentrated Wealth: Tech and Finance now account for nearly half of all U.S. billionaires, with tech titans alone commanding 37% of total billionaire wealth.

The full study with all 10 interactive charts is available here:
https://www.datapulse.de/en/billionaires-usa/ 

This data provides a new lens through which to view the intersection of wealth and power in America.

The report was compiled by Datapulse.


https://www.datapulse.de/en/
(+49) 30-75437064

Since this is a mostly education blog, I have covered the budget debate by focusing on what the GOP is doing to maim public schools and enrich private (especially religious schools). In the past, Republicans were strong supporters of public schools. But the billionaires came along and brought their checkbooks with them.

The rest of the Ugly bill is devastating to people who struggle to get by. Deep cuts to Medicaid, which will force the closure of many rural hospitals. Cuts to anything that protects the environment or helps phase out our reliance on fossil fuels. Well, at least Senator Schumer managed to change the name of the bill, new name not yet determined.

One Republican vote could have sunk the bill. But Senator Murkowski got a mess of pottage.

David Dayen writes in The American Prospect:

Welcome to “Trump’s Beautiful Disaster,” a pop-up newsletter about the Republican tax and spending bill, one of the most consequential pieces of legislation in a generation. Sign up for the newsletter to get it in your in-box.

By the thinnest of margins, the U.S. Senate completed work on the One Big Beautiful Bill Act on Tuesday morning, after Sen. Lisa Murkowski (R-AK) decided that she could live with a bill that takes food and medicine from vulnerable people to fund tax cuts tilted toward the wealthy, as long as it didn’t take quite as much food away from Alaskans.

The new text, now 887 pages, was released at 11:20 a.m. ET. The finishing touches of it, which included handwritten additions to the text, played out live on C-SPAN, with scenes of the parliamentarian and a host of staff members from both parties huddled together.

At the very end, Senate Minority Leader Chuck Schumer knocked out the name “One Big Beautiful Bill Act” with a parliamentary maneuver, on the grounds that it was ridiculous (which is hard to argue). It’s unclear what this bill is even called now, but that hardly matters. The final bill passed 51-50, with Vice President JD Vance breaking the tie.

Murkowski was able to secure a waiver from cost-sharing provisions that would for the first time force states to pay for part of the Supplemental Nutrition Assistance Program (SNAP). In order to get that past the Senate parliamentarian, ten states with the highest payment error rates had to be eligible for the five-year waiver, including big states like New York and Florida, and several blue states as well. 

The expanded SNAP waivers mean that in the short-term only certain states with average or even below-average payment error rates will have to pay into their SNAP program; already, the language provided that states with the lowest error rates wouldn’t have to pay. “The Republicans have rewarded states that have the highest error rates in the country… just to help Alaska, which has the highest error rate,” thundered Sen. Amy Klobuchar (R-MN), offering an amendment to “strike this fiscal insanity” from the bill. The amendment failed along party lines.

The new provision weakens the government savings for the bill at a time when the House Freedom Caucus is calling the Senate version a betrayal of a promise to link spending cuts to tax cuts. But those House hardliners will ultimately have to decide whether to defy Donald Trump and reject the hard-fought Senate package, which only managed 50 votes, or to cave to their president.

In addition, Murkowski got a tax break for Alaskan fishing villages and whaling captains inserted into the bill. Medicaid provisions that would have boosted the federal share of the program for Alaska didn’t get through the parliamentarian; even a handwritten attempt to help out Alaska on Medicaid was thrown out at the last minute. But Murkowski still made off with a decent haul, which was obviously enough for her to vote yes.

All Republicans except for Sens. Rand Paul (R-KY), Thom Tillis (R-NC), and Susan Collins (R-ME) voted for the bill. Tillis and Collins are in the two most threatened seats among Republicans in the 2026 midterm elections; Tillis decided to retire rather than face voters while passing this bill. Paul, a libertarian, rejected the price tag and the increase in the nation’s debt limit that is folded into the bill.

Other deficit hawks in the Senate caved without even getting a vote to deepen the Medicaid cuts. That could be the trajectory in the House with Freedom Caucus holdouts. But the House also has problems with their handful of moderates concerned about the spending slashes in the bill.

The bill was clinched with a “wraparound” amendment that made several changes, including the elimination of a proposed tax on solar and wind energy production that would have made it impossible to build new renewable energy projects. The new changes now also grandfather in tax credits to solar and wind projects that start construction less than a year after enactment of the bill. Even those projects would have to be placed in service by 2027. The “foreign entities of concern” provision was also tweaked to make it easier for projects that use a modicum of components from China to qualify for tax credits.

The bill still phases out solar and wind tax credits rather quickly, and will damage energy production that is needed to keep up with soaring demand. But it’s dialed down from apocalyptic to, well, nearly apocalyptic. And this is going to be another source of anger to the Freedom Caucus, which wanted a much quicker phase-out of the energy tax credits.

The wraparound amendment also doubled the size of the rural hospital fund to $50 billion. The Senate leadership’s initial offer on this fund was $15 billion. Overnight the Senate rejected an amendment from Collins that would have raised the rural hospital fund to $50 billion. Even at that size—which will be parceled out for $10 billion a year for five years—it hardly makes up for nearly $1 trillion in Medicaid cuts, which are permanent. The hospital system is expected to buckle as a result of this legislation, if it passes.

Some taxes, including a tax on third-party “litigation finance,” were removed in the final bill. But an expanded tax break for real estate investment trusts, which was in the House version, snuck into the Senate bill at the last minute.

The state AI regulation ban was left out of the final text after a 99-1 rejection of it in an amendment overnight.

The action now shifts to the House, where in addition to Freedom Caucus members concerned about cost, several moderates, including Reps. David Valadao (R-CA) and Jeff Van Drew (R-NJ), have balked at the deep spending cuts to Medicaid and other programs.

The American Federation of Teachers released a statement by its President Randi Weingarten:

Contact:
Andrew Crook
607-280-6603
acrook@aft.org

AFT’s Weingarten on Senate’s Big, Ugly Betrayal of America’s Working Families

As we prepare to celebrate our independence, the promise of the American dream, of freedom and prosperity for all, is now further out of reach.’

WASHINGTON—AFT President Randi Weingarten issued the following statement after the Senate passed President Trump’s billionaire tax scam:

“This is a big, ugly, obscene betrayal of American working families that was rammed through the Senate in the dead of night to satisfy a president determined to hand tax cuts to his billionaire friends.

“These are tax cuts paid for by ravaging the future: kicking millions off healthcare, closing rural hospitals, taking food from children, stunting job growth, hurting the climate, defunding schools and ballooning the debt. It will siphon money away from public schools through vouchers—which harm student achievement and go mostly to well-off families with kids already in private schools. It’s the biggest redistribution of wealth from the poor to the rich in decades—far worse, to the tune of hundreds of billions of dollars, than the version passed by the House.

“But if you only listened to those who voted yes, you wouldn’t have heard anything like that. You would’ve heard bad faith attempts to rewrite basic laws of accounting so they could assert that the bill won’t grow the deficit. You would’ve heard false claims about what it will do to healthcare and public schools and public services, which are the backbone of our nation.

“The reality is that the American people have rejected, in poll after poll, this bill’s brazen deception. As it travels back to the House and presumably to the president’s desk, we will continue to sound the alarm and let those who voted for it know they have wounded the very people who voted them into office. But it is also incumbent on us to fight forward for an alternative: for working-class tax cuts and for full funding of K-12 and higher education as engines of opportunity and democracy.

“Sadly, as we prepare to celebrate our independence, the promise of the American dream, of freedom and prosperity for all, is now further out of reach.”

 ###


The AFT represents 1.8 million pre-K through 12th-grade teachers; paraprofessionals and other school-related personnel; higher education faculty and professional staff; federal, state and local government employees; nurses and healthcare workers; and early childhood educators.

If you haven’t heard of Curtis Yarvin, you should learn about him now. Yarvin does not believe in democracy. He believes in a society commanded by a king or autocrat. He was a prodigy as a child and now considers himself to be a political genius. Powerful men in the tech industry and politics pay him court and admire him, men like the billionaires Peter Thiel and Marc Andreessen, and Vice-President JD Vance.

Curtis Yarvin, advisor to Peter Thiel, Donald Trump

This article in The New Yorker by Ava Kolman paints a biographical portrait of Yarvin, summarizes his major ideas and describes his international standing as a philosopher of far-right leaders of the tech industry.

Kolman writes about Yarvin’s extensive range of contacts among the Trump administration and his influence on them, as well as his contact with royalists in other countries..

Kolman begins:

In the spring and summer of 2008, when Donald Trump was still a registered Democrat, an anonymous blogger known as Mencius Moldbug posted a serial manifesto under the heading “An Open Letter to Open-Minded Progressives.” Written with the sneering disaffection of an ex-believer, the hundred-and-twenty-thousand-word letter argued that egalitarianism, far from improving the world, was actually responsible for most of its ills. That his bien-pensant readers thought otherwise, Moldbug contended, was due to the influence of the media and the academy, which worked together, however unwittingly, to perpetuate a left-liberal consensus. To this nefarious alliance he gave the name the Cathedral. Moldbug called for nothing less than its destruction and a total “reboot” of the social order. He proposed “the liquidation of democracy, the Constitution, and the rule of law,” and the eventual transfer of power to a C.E.O.-in-chief (someone like Steve Jobs or Marc Andreessen, he suggested), who would transform the government into “a heavily-armed, ultra-profitable corporation.” This new regime would sell off public schools, destroy universities, abolish the press, and imprison “decivilized populations.” It would also fire civil servants en masse (a policy Moldbug later called rage—Retire All Government Employees) and discontinue international relations, including “security guarantees, foreign aid, and mass immigration.”

Does anything on his wish-list sound familiar to you?

It should. Trump has loaded up his administration with people who imbibe Yarvin.

A decade on, with the Trumpian right embracing strongman rule, Yarvin’s links to élites in Silicon Valley and Washington are no longer a secret. In a 2021 appearance on a far-right podcast, Vice-President J. D. Vance, a former employee of one of Thiel’s venture-capital firms, cited Yarvin when suggesting that a future Trump Administration “fire every single mid-level bureaucrat, every civil servant in the administrative state, replace them with our people,” and ignore the courts if they objected. Marc Andreessen, one of the heads of Andreessen Horowitz and an informal adviser to the so-called Department of Government Efficiency (doge), has started quoting his “good friend” Yarvin about the need for a founder-like figure to take charge of our “out of control” bureaucracy. Andrew Kloster, the new general counsel at the government’s Office of Personnel Management, has said that replacing civil servants with loyalists could help Trump defeat “the Cathedral.”

“There are figures who channel a Zeitgeist—Nietzsche calls them timely men—and Curtis is definitely a timely man,” a State Department official who has been reading Yarvin since the Moldbug era told me. Back in 2011, Yarvin said that Trump was one of two figures who seemed “biologically suited” to be an American monarch. (The other was Chris Christie.) In 2022, he recommended that Trump, if reëlected, appoint Elon Musk to run the executive branch. On a podcast with his friend Michael Anton, now the director of policy planning at the State Department, Yarvin argued that the institutions of civil society, such as Harvard, would need to be shut down. “The idea that you’re going to be a Caesar . . . with someone else’s Department of Reality in operation is just manifestly absurd,” he said.

Yatvin’s ideas are quirky, inhumane, and extreme, to say the least:

On his blog, he once joked about converting San Francisco’s underclasses into biodiesel to power the city’s buses. Then he suggested another idea: putting them in solitary confinement, hooked up to a virtual-reality interface. Whatever the exact solution, he has written, it is crucial to find “a humane alternative to genocide,” an outcome that “achieves the same result as mass murder (the removal of undesirable elements from society) but without any of the moral stigma.”

Yarvin’s call for an American strongman is often treated as an eccentric provocation. In fact, he considers it the only answer to a world in which most people are unfit for democracy….

Yarvin’s influence on Trump’s inner circle is noticeable:

Last month, an anonymous doge adviser told the Washington Post that it was “an open secret that everyone in policymaking roles has read Yarvin.” Stephen Miller, the President’s deputy chief of staff, recently quote-tweeted him. Vance has called for the U.S. to retrench from Europe, a longtime Yarvin desideratum. Last spring, Yarvin proposed expelling all Palestinians from the Gaza Strip and turning it into a luxury resort. “Did I hear someone say ‘beachfront?’ ” he wrote on Substack. “The new Gaza—developed, of course, by Jared Kushner—is the LA of the Mediterranean, an entirely new charter city on humanity’s oldest ocean, sublime real estate with an absolutely perfect, Apple-quality government.” This February, during a joint press conference with Benjamin Netanyahu, the Israeli Prime Minister, Trump surprised his advisers when he made a nearly identical proposal, describing his redeveloped Gaza as “the Riviera of the Middle East.”

Trump, who doesn’t like to read, is unlikely to have read Yarvin’s philosophical treatises about the proper functioning of a modern society–without benefit of a popular vote–but certainly Trump’s view of the unlimited, imperial powers of the Presidency are similar to those of Yarvin.

Read the article if you can access it. Make yourself aware of the man who wields an outsize influence on Trump right now.

To learn more about Yarvin’s influence among rightwing billionaires, read:

https://theconversation.com/an-antidemocratic-philosophy-called-neoreaction-is-creeping-into-gop-politics-182581

Tom Ultican, retired teacher of high school physics and advanced mathematics in California, has been keeping close watch on the billionaire-funded efforts to promote privatization and demean teachers. In this post, he reviews an opinion piece that advocates the resuscitation of failed policies of the past.

As I wrote in my 2013 book Reign of Error, merit pay has been tried again and again, and it has never worked. There and in my last book, Slaying Goliath (pp. 244-245), I cited powerful evidence that paying teachers based on the rise or fall of their students’ test scores was a disaster: The Gates Foundation awarded $575 million to three school districts and four charter chains to evaluate teachers by test scores and peer evaluators, in hopes of getting the best teachers to transfer into the neediest schools. Gates hired top firms Rand and AIR to evaluate the program over six years. They concluded that it wasted resources that might have been better spent on reducing class sizes or raising teachers’ salaries. The program did not raise test scores, did not affect graduation rates or dropout rates, andddid not change the quality of teachers. Yet Hanushek and Macke advocate for the revival of this failed practice.

Ultican writes

It was “déjà vu all over again” when Eric Hanushek and his wife Macke Raymond shared their views in the Washington Post. They cited Michelle Rhee and Mike Miles as exemplary education leaders, merit pay as good education policy and turned to A Nation at Risk for support. Governor Abbott took over Houston’s schools and installed Miles as superintendent but here Hanushek and Raymond were referencing his long ago stint in Dallas.

I am no longer a reader of the Washington Post. When Bezos decided his newspaper would not endorse a candidate for president, I cancelled my subscription. However, a friend felt I needed to see this article and sent me a copy.

Billionaires like Bezos are destroying America and all of its venerable institutions. Hanushek and Raymond are Stanford based billionaire tools.

While working on her PhD in Political Science at the University of Rochester, Macky fell in love with her much older professor, Eric Hanushek, and eventually married him.

Today, Raymond is the director of CREEDO. Her 2015 Hoover Institute Fellow’s profile says in part, “In partnership with the Walton Family Foundation and Pearson Learning Systems, Raymond is leading a national study of the effectiveness of public charter schools.” Are the billionaires guarding the hen house?

Rhee and Miles

The Hanushek and Raymond opinion piece states:

“In 2009, under the leadership of then-Chancellor Michelle Rhee, Washington implemented the IMPACT program — a revamped teacher evaluation system that is linked directly to classroom effectiveness and that provides large increases in base salaries for the most effective teachers and dismissal for the least effective. This program has shown that focusing on student learning is rewarded with improved student performance, and that student-focused incentives work.”

This is a totally bunkum statement and is followed by another world of bunkum claim:

“Under the leadership of then-Superintendent Mike Miles, Dallas in 2015 switched to a salary system based on a sophisticated evaluation of teacher effectiveness. It then used this system to provide performance-based bonuses to teachers who would agree to go to the lowest-performing schools in the district. Two things happened: First, the best teachers responded to the incentives and were willing to move to the poorest-performing schools. Second, within two years, these schools jumped up to the district average.”

The linked evidence in the Dallas claim is to an Education Next article written by Hanushek and friends. In it, he claimed, “In the four years after Dallas adopted new performance-based teacher evaluation and compensation systems, student performance on standardized tests improved by 16 percent of a standard deviation in math and 6 percent in reading, while scores for a comparison group of similar Texas schools remained flat.”

Sixteen percent of a standard deviation of growth in math after 4 years sounds weak and 6% of a standard deviation growth in reading does not seem much more than noise in the data.

Hanushek gained notoriety with his 1981 paper, claiming “there is no relationship between expenditures and the achievement of students and that such traditional remedies as reducing class sizes or hiring better trained teachers are unlikely to improve matters.” This played well with billionaires from the Walton family but had no relationship with reality. The history of crazy pants unsupported statements like this have long caused me to seek verification for whatever he says.

Hanushek and Raymond claim that both Dallas and Washington DC saw comparatively superior testing outcomes than other urban areas in the US. The evidence they provide is a link to the NAEP Trial Urban District Assessment (tuda). I graphed 4th and 8th grade math tuda data between 2009 and 2024 for the Large City composite, Dallas, DC, Baltimore and San Diego. Nothing substantive popped out in my graphs.

I decided to subtract the 4th grade scores from the 8th grade scores to get a sense of how the students were progressing. The results graphed below stunned me with their clarity. Baltimore, which traditionally has low scores, San Diego, which traditionally scores well and the Large City composite had fairly consistent increases of about 40 points. Dallas and DC both fell below a 30 points increase.

Billionaires Take Over

Michelle Rhee came out of Teach for America (TFA) where she taught for three years in a Baltimore elementary school. She returned to New York, TFA and Wendy Kopp to help found the New Teachers Project which is now known as TNTP. New York Chancellor of Public Schools, Joel Klein, who worked for multi-billionaire Mayor Michael Bloomberg, recommended the 37-year-old Rhee to be Washington DC’s new superintendent.

During Rhee’s three year reign of terror, she replaced half of DC’s teachers and a third of its principals. She was consumed with raising test scores and scorned those who did not share her devotion to standardized testing. Her relentless pressure to raise test scores brought some early gains and produced a major cheating scandal.

DC principal, Adell Cothorne, lost her job for insisting upon increased test security when she learned that teachers were violating testing protocols. I had lunch with Adell at the 2015 NPE conference in Chicago. She struck me as a proud Black woman with poise, immense courage and profound character.

After Rhee left DC schools, she started StudentsFirst and led a national crusade to abolish teacher tenure and promote school choice. Billionaires and their friends provided her organization with millions of dollars. (Reign of Error, Pages 145-155)

Before 2012, Dallas school board elections were very low key affairs. Two of the three incumbent school board trustees up for reelection ran unopposed in 2011.

Writing for In These Times, George Joseph explained the political change, “But since the beginning of 2012, hundreds of thousands of Super PAC dollars from Dallas’ richest neighborhoods began flowing into nearly all of the district’s school board elections.” 

The billionaires contributing included Ross Perot, Ray Hunt and Justice Thomas’s buddy Harlan Crow.

Once the new 2012 board was seated, it fired Superintendent Michael Hinojosa and replaced him with Mike Miles, a graduate of billionaire Eli Broad’s Superintendents Academy

The article “Dallas Chamber of Commerce Disrupts Dallas Schools” summarized Miles three year tenure:

“Miles’s reforms included a new principal evaluation process which led to large turnover. He also instituted a merit pay system for teachers and hired Charles Glover a 29-year-old administrator of the Dallas TFA branch to be Chief Talent Officer in DISD. After just under three years, he had managed to alienate the black and Hispanic communities as well as many experienced teachers and principals.”

Like Michelle Rhee, he also believed in standardized test based accountability and merit pay.

Concluding Information

Reporting for NPR’s 35 anniversary of A Nation at Risk, Ana Kamenetz discovered, “They started out already alarmed by what they believed was a decline in education, and looked for facts to fit that narrative.”

A decade before Ana’s report, Florida education professor, James Guthrie, noted, “They cooked the books to get what they wanted.”

In 1990, Sandia engineers set out to add weight to A Nation at Risk. They disaggregated the data by race and sex and were surprise to find that every group advanced during the 1963 to 1980 period. The growing numbers of SAT test takers was driven by poor, minority and female students, causing the test averages to drop.

A Nation at Risk was a fraudulent paper and America’s students were actually healthy and doing well, which means public schools were healthy and doing well.

Merit pay is a Taylorist scheme that appeals to many American business leaders, but has a long history of employee dissatisfaction and output quality issues. Researchers at Vanderbilt University studied merit pay for teachers and found no significant gains in testing data and in New York researchers documented negative results.

Unfortunately, billionaires own the media and publish opinion pieces by hired frauds like Hanushek and Raymond.

Heather Cox Richardson describes the legal corruption that is now out in the open.

Yesterday at the meeting of the leaders of the Group of Seven (G7), a forum of democracies with advanced economies, President Donald Trump told reporters: “The UK is very well protected. You know why? Because I like them, that’s why. That’s the ultimate protection.”

Commenters often note that Trump talks like a mob boss, but rarely has his organized-crime style of governance been clearer than in yesterday’s statement.

Also yesterday, Ana Swanson and Lauren Hirsch of the New York Times reported that Trump has taken unprecedented control over U.S. Steel. Japan’s Nippon Steel has been trying to take over U.S. Steel since 2023, but the Biden administration blocked the deal for security reasons. In order to move it forward, Commerce Secretary Howard Lutnick demanded an agreement that gives to the president and his successors, or a person the president designates, a single share of preferred stock, known as class G, or “gold.” The deal gives the president permanent veto power over nearly a dozen actions the company might want to take, as well as power over its board of directors.

Swanson and Hirsch note that the U.S. government historically takes a stake in companies only when they are in financial trouble or when they play a significant role in the economy. “We have a golden share, which I control, or the president controls,” Mr. Trump told reporters on Thursday. “Now I’m a little concerned whoever the president might be, but that gives you total control.”

This kind of deal echoes those of the authoritarians Trump appears to admire. His ongoing support for Russian president Vladimir Putin was on display at the G7, when he echoed Russian talking points that blamed European countries and the United States for Putin’s war against Ukraine, rather than acknowledging that it was Russia that attacked Ukraine after giving assurances that it would respect Ukrainian sovereignty in exchange for Ukraine’s giving up the Soviet nuclear weapons stored there.

Also yesterday, Rene Marsh and Ella Nilsen of CNN reported that officials from the Environmental Protection Agency under Trump have been telling staff in the Midwest—which the authors note has a legacy of industrial pollution—to “stop enforcing violations against fossil fuel companies.” At the same time, the Department of Justice has cut its environmental division significantly, leaving “no one to do the work.”

Trump vowed that if he were reelected he would slash the oil and gas regulations he claims are “burdensome.” Now, one EPA enforcement staffer told Marsh and Nilsen, “The companies are scoffing at the cops. EPA enforcement doesn’t have the leverage they once had.”

Also yesterday, outdoor journalist Wes Siler reported in Wes Siler’s Newsletter that while language inserted in the Republicans’ budget reconciliation bill requires the sale of up to 3.3 million acres of publicly owned land, an amendment authorizes the sale of 258 million acres more over the next five years. The amendment comes from the Senate Energy and Natural Resources Committee and was written by Senators Mike Lee (R-UT) and Steve Daines (R-MT).

It includes Bureau of Land Management and U.S. Forest Service lands in 11 states: Alaska, Arizona, California, Colorado, Idaho, New Mexico, Nevada, Oregon, Utah, Washington, and Wyoming. As Siler notes, while the measure does not currently include national monument lands, the Department of Justice under Trump is arguing that the president can revoke national monument protections. If it did so, that would make another 13.5 million acres available for purchase.

Siler notes the process for selling those lands calls for an enormous rush on sales, “all without hearings, debate, or public input opportunities.”

Today, Eliot Brown of the Wall Street Journal reported that Mukesh Ambani, the richest man in India, is now one of the many wealthy foreign real estate developers “pouring money” into the Trump Organization. Brown noted that the Trump family is aggressively developing its businesses while Trump is in the White House, reaching past real estate into cryptocurrency and other sectors.

The growing power of international oligarchs to use the resources of the government for their own benefit recalls a speech Robert Mueller, then director of the Federal Bureau of Investigation, gave in New York City in 2011. In it, he explained that globalization and modern technology had changed the nature of organized crime. No longer regional networks with a clear structure, he said, organized crime had become international, fluid, and sophisticated, with multibillion-dollar stakes. Its operators were cross-pollinating across countries, religions, and political affiliations, sharing only their greed. They did not care about ideology; they cared about money. They would do anything for a price.

These criminals “may be former members of nation-state governments, security services, or the military,” he said. “They are capitalists and entrepreneurs. But they are also master criminals who move easily between the licit and illicit worlds. And in some cases, these organizations are as forward-leaning as Fortune 500 companies.”

These criminal enterprises, he noted, were working to corner the market on oil, gas, and precious metals. And to do so, Mueller explained, they “may infiltrate our businesses. They may provide logistical support to hostile foreign powers. They may try to manipulate those at the highest levels of government. Indeed, these so-called ‘iron triangles’ of organized criminals, corrupt government officials, and business leaders pose a significant national security threat.”

The FBI’s increasing focus on organized crime and national security is what prompted its interest in the connections between the Trump campaign and Russia in 2016.

The willingness of Republicans to enable Trump’s behavior is especially striking today, since June 17 is the anniversary of the 1972 Watergate break-in. On that day, operatives associated with President Richard M. Nixon’s team tried to tap the headquarters of the Democratic National Committee in Washington’s Watergate complex. Early in the morning of June 17, 1972, Frank Wills, a 24-year-old security guard, noticed that a door lock had been taped open. He ripped off the tape and closed the door, but on his next round, he found the door taped open again. He called the police, who found five burglars in the Democratic National Committee headquarters located in the building.

The story played out over the next two years with Nixon insisting he was not involved in the affair, but in early August 1974 a tape recorded just days after the break-in revealed Nixon and an aide plotting to invoke national security to protect the president. Republican senators who had not wanted to convict their president of the charges of impeachment being considered in the House knew the game was over. A delegation of them went to the White House to tell Nixon they would vote to convict him.

On August 9, 1974, Nixon became the first president in U.S. history to resign.

Chris Geidner of LawDork notes that despite the lawmakers in our own era who are unwilling to stop Trump, “the pushback…is very real.” Geidner notes not just the No Kings Day protests of the weekend, but also a lawsuit by the American Bar Association (ABA) suing Trump for his attacks on law firms and lawyers, calling Trump’s actions “unprecedented and uniquely dangerous to the rule of law.”

Geidner also notes that lower court judges are upholding the Constitution, and he points especially to U.S. District Judge William Young, an appointee of Republican president Ronald Reagan. In a hearing yesterday, Young insisted on holding the government accountable “for both Trump’s actions and the follow-up actions from those Trump has empowered to act.”

Young called cuts to funding for National Institutes of Health research grants “illegal” and “void” and ordered the NIH to restore the funds immediately. “I am hesitant to draw this conclusion—but I have an unflinching obligation to draw it—that this represents racial discrimination and discrimination against America’s LGBTQ community. That’s what this is. I would be blind not to call it out. My duty is to call it out.”

“I’ve never seen a record where racial discrimination was so palpable,” Young said during the hearing. “I’ve sat on this bench now for 40 years. I’ve never seen government racial discrimination like this.” He added: “You are bearing down on people of color because of their color. The Constitution will not permit that.… Have we fallen so low? Have we no shame?”

Democratic leaders asked the nonpartisan, highly respected Congressional Budget Office to evaluate the consequences of the Trump tax plan. In brief, the bill would widen the gap between haves and have nots and would increase the number in poverty.

The Financial Times reported:

Donald Trump’s landmark tax bill would make the most prosperous Americans $12,000 richer each year, while wiping $1,600 off the disposable income of the nation’s poorest, Congress’s fiscal watchdog said on Thursday. 

Trump’s “one big beautiful bill” narrowly passed the House of Representatives last month, extending tax cuts introduced during the US president’s first term in the White House in 2017. 

The Congressional Budget Office said in a letter that the top 10 per cent of Americans by income would, on average, see their resources rise by $12,000 a year, or 2.3 per cent of their projected income, should Trump’s “one big beautiful bill” pass the Senate in broadly the same form that it passed the House. 

“The changes would not be evenly distributed among households,” said CBO director Phillip Swagel in the letter addressed to Democrat lawmakers Brendan Boyle and Hakeem Jeffries, who had requested the analysis. 

“The agency estimates that, in general, resources would decrease for households towards the bottom of the income distribution, whereas resources would increase for households in the middle and the top of the income distribution.” 

The Economic Policy Institute issued an open letter to the American people, written and co-signed by six economists who won the Nobel Prize.

They wrote:

As economists who have devoted our careers to researching how economies can grow and how the benefits of this growth can be translated into broadly shared prosperity and security, we have grave concerns about the budget reconciliation bill passed by the U.S. House of Representatives on May 22, 2025.

The most acute and immediate damage stemming from this bill would be felt by the millions of American families losing key safety net protections like Medicaid and Supplemental Nutrition Assistance Program (SNAP) benefits. The Medicaid cuts constitute a sad step backward in the nation’s commitment to providing access to health care for all. Proponents of the House bill often claim that these Medicaid cuts can be achieved simply by imposing work reporting requirements on healthy, working-age adults. But healthy, working-age adults are by definition not heavy consumers of health spending, so achieving the budgeted Medicaid cuts will obviously harm others as well.

Medicaid provides health insurance coverage for low-income Americans, but this includes paying out-of-pocket health costs for low-income retired Medicare recipients and providing nursing home and in-home care services for elderly Americans. Medicaid also covers 41% of all births in the United States, including over 50% of all births in Louisiana, Mississippi, New Mexico, and Oklahoma. Work reporting requirements will obviously yield no savings from these Medicaid functions.

Besides providing affordable health care to families, Medicaid is also crucial to state budgets and hospital systems throughout the country—particularly in rural areas. In 2023, the federal government sent $615 billion to state governments to cover Medicaid spending; this federal contribution accounted for over 75% of total state Medicaid spending in more than 19 states. Rural hospitals in states that accepted the Medicaid expansion that was part of the Affordable Care Act were 62% less likely to close than rural hospitals in non-expansion states.

In addition to Medicaid, the House bill also significantly cuts SNAP. These steep cuts to the social safety net are being undertaken to defray the staggering cost of the tax cuts included in the House bill, including the hidden cost of preserving the large corporate income tax cutpassed in the 2017 tax law. But even these sharp spending cuts will pay for far less than half of the tax cuts (not even including the cost of maintaining the corporate income tax cuts of the 2017 law).

U.S. structural deficits are already too high, with real debt service payments approaching their historic highs in the past year. The House bill layers $3.8 trillion in additional tax cuts ($5.3 trillion if all provisions are made permanent) on top of these existing fiscal gaps—and these tax cuts are overwhelmingly tilted toward the highest-income households. Even with the safety net cuts, the House bill leads to public debt rising by over $3 trillion in coming years (and over $5 trillion over the next decade if provisions are made permanent rather than phasing out). The higher debt and deficits will put noticeable upward pressure on both inflation and interest rates in coming years.

The combination of cuts to key safety net programs like Medicaid and SNAP and tax cuts disproportionately benefiting higher-income households means that the House budget constitutes an extremely large upward redistribution of income. Given how much this bill adds to the U.S. debt, it is shocking that it still imposes absolute losses on the bottom 40% of U.S households(if some of the fiscal cost is absorbed in future bills with extremely high and broad tariffs, the share of households seeing absolute losses will increase rapidly).

The United States has a number of pressing economic challenges to address, many of which require a greater level of state capacity to navigate—capacity that will be eroded by large tax cuts. The House bill addresses none of the nation’s key economic challenges usefully and exacerbates many of them. The Senate should refuse to pass this bill and start over from scratch on the budget.

Daron Acemoglu
MIT Economics

Peter Diamond
MIT Economics

Oliver Hart
Harvard University

Simon Johnson
MIT Sloan School of Management

Paul Krugman
Graduate Center, City University of New York

Joseph Stiglitz
Columbia University

Tim O’Brien is senior executive editor of Bloomberg Opinion News. He writes here about why it is dangerous to call Trump “TACO Trump,” a moniker given to him by Robert Armstrong of the Financial Times.

TACO means “Trump Always Chickens Out.” It refers to his brash statements about draconian tariffs, followed by his usual backing down and deferring them. It happened on “Liberation Day,” April 2, it happened with his shakedown of Canada and Mexico, then his latest occurred when he announced 50% tariffs on the EU and the very next day, postponed them until July 9.

O’Brien writes about Trump’s huge and fragile ego. Although he evaded the draft when he was draft-eligible, he needs to be perceived as strong, tough, fearless, and fierce. A super-hero. A warrior. A man with nerves of steel.

O’Brien has a long history with Trump. In 2006, he wrote a book about Trump called TrumpNation. In the book, he said that Trump was not a billionaire, that he was worth only $150-200 million. Trump sued him for $10 billion for defamation. The suit was tossed out in 2009.

Being called “chicken” makes Trump very angry, O’Brien says.

“That’s a nasty question,” he told a reporter who asked about the TACO moniker at a White House press briefing on Wednesday. “Don’t ever say what you said. That’s a nasty question. … To me, that’s the nastiest question.”

Trump, who fashions himself a brilliant dealmaker and strategist despite ample evidence to the contrary, is, of course, always going to bristle at the notion that he is a chicken — and a predictable one at that. He also routinely peddles himself as an infallible winner, so the nastiest question is also one that speculates about whether he’s mired in a losing streak. His tariff policy, unleashed on allies and competitors alike, has been rolled out on a seesaw and riddled with economically damaging ineptitude.

O’Brien says we must prepare for a Trumpian show of force. He must show the world that he is no chicken. Not Putin’s puppet! Not a chicken! Tough! Strong! Never chicken!

Heather Cox Richardson warns about the Republicans’ “One Big, Beautiful Bill,” which cuts Medicaid and other vital services while increasing the deficit. Republicans cover up the cruel cuts to vital services by lying about them.

She writes:

The Republicans’ giant budget reconciliation bill has focused attention on the drastic cuts the Trump administration is making to the American government. On Friday, when a constituent at a town hall shouted that the Republicans’ proposed cuts to Medicaid, the federal healthcare program for low-income Americans, meant that “people will die,” Senator Joni Ernst (R-IA) replied, “Well, we are all going to die.”

The next day, Ernst released a video purporting to be an apology. It made things worse. “I made an incorrect assumption that everyone in the auditorium understood that, yes, we are all going to perish from this Earth. So, I apologize. And I’m really, really glad that I did not have to bring up the subject of the tooth fairy as well. But for those that would like to see eternal and everlasting life, I encourage you to embrace my lord and savior, Jesus Christ,” she said.

Ernst blamed the “hysteria that’s out there coming from the left” for the outcry over her comments. Like other Republicans, she claims that the proposed cuts of more than $700 billion in Medicaid funding over the next ten years is designed only to get rid of the waste and fraud in the program. Thus, they say, they are actually strengthening Medicaid for those who need it.

But, as Linda Qiu noted in the New York Timestoday, most of the bill’s provisions have little to do with the “waste, fraud, and abuse” Republicans talk about. They target Medicaid expansion, cut the ability of states to finance Medicaid, force states to drop coverage, and limit access to care. And the nonpartisan Congressional Budget Office (CBO) says the cuts mean more than 10.3 million Americans will lose health care coverage.

House speaker Mike Johnson has claimed that those losing coverage will be 1.4 million unauthorized immigrants, but this is false. As Qiu notes, although 14 states use their own funds to provide health insurance for undocumented immigrant children, and seven of those states provide some coverage for undocumented pregnant women, in fact, “unauthorized immigrants are not eligible for federally funded Medicaid, except in emergency situations.” Instead, the bill pressures those fourteen states to drop undocumented coverage by reducing their federal Medicaid funding.

MAGA Republicans claim their “One Big, Beautiful Bill”—that’s its official name—dramatically reduces the deficit, but that, too, is a lie.

On Thursday, May 29, White House press secretary Karoline Leavitt claimed the measure would carry out “the largest deficit reduction in nearly 30 years with $1.6 trillion in mandatory savings.” She echoed forty years of Republican claims that the economic growth unleashed by the measure would lead to higher tax revenues, a claim that hasn’t been true since Ronald Reagan made it in the 1980s.

In fact, the CBO estimates that the tax cuts and additional spending in the measure mean “[a]n increase in the federal deficit of $3.8 trillion.” As G. Elliott Morris of Strength in Numbers notes, the CBO has been historically very reliable, but Leavitt and House speaker Mike Johnson (R-LA) tried to discount its scoring by claiming, as Johnson said: “They are historically totally unreliable. It’s run by Democrats.”

The director of the CBO, economist Philip Swagel, worked as chief of staff and senior economist at the Council of Economic Advisors during the George W. Bush administration. He was appointed in 2019 with the support of Senate Budget Committee chair Michael Enzi (R-WY) and House Budget Committee chair John Yarmuth (D-KY). He was reappointed in 2023 with bipartisan support.

Republican cuts to government programs are a dramatic reworking of America’s traditional evidence-based government that works to improve the lives of a majority of Americans. They are replacing that government with an ideologically driven system that concentrates wealth and power in a few hands and denies that the government has a role to play in protecting Americans.

And yet, those who get their news by watching the Fox News Channel are likely unaware of the Republicans’ planned changes to Medicaid. As Aaron Rupar noted, on this morning’s Fox and Friends, the hosts mentioned Medicaid just once. They mentioned former president Joe Biden 39 times.

That change shows dramatically in cuts to the National Oceanic and Atmospheric Administration (NOAA). NOAA is an agency in the Commerce Department, established under Republican president Richard Nixon in 1970, that monitors weather conditions, storms, and ocean currents. The National Weather Service (NWS), which provides weather, wind, and ocean forecasts, is part of NOAA.

NWS forecasts annually provide the U.S. with an estimated $31.5 billion in benefits as they enable farmers, fishermen, businesspeople, schools, and individuals to plan around weather events.

As soon as he took office, Trump imposed an across-the-board hiring freeze, and billionaire Elon Musk’s “Department of Government Efficiency” fired probationary employees and impounded funds Congress had appropriated. Now, as hurricane season begins, experts in storms and disasters are worried that the NOAA will be unable to function adequately.

Cuts to the NWS have already meant fewer weather balloons and thus less data, leaving gaps in information for a March ice storm in Northern Michigan and for storms and floods in Oklahoma in April. Oliver Milman of The Guardianreported today that 15 NWS offices on the Gulf of Mexico, a region vulnerable to hurricanes, are understaffed after losing more than 600 employees. Miami’s National Hurricane Center is short five specialists. Thirty of the 122 NWS stations no longer have a meteorologist in charge, and as of June 1, seven of those 122 stations will not have enough staff to operate around the clock.

On May 5, the five living former NWS leaders, who served under both Democratic and Republican presidents, wrote a letter to the American people warning that the cuts threaten to bring “needless loss of life.” They urged Americans to “raise your voice” against the cuts.

Trump’s proposed 2026 budget calls for “terminating a variety of climate-dominated research, data, and grant programs” and cutting about 25% more out of NOAA’s funding.

The Federal Emergency Management Agency (FEMA) has also suffered dramatic cuts as Trump has said he intends to push disaster recovery to the states. The lack of expertise is taking a toll there, too. Today staff members there said they were baffled after David Richardson, the head of the agency, said he did not know the United States has a hurricane season. (It does, and it stretches from June 1 to the end of November.) Richardson had no experience with disaster response before taking charge of FEMA.

Trump’s proposed cuts to the National Institutes of Health (NIH) are even more draconian. On Friday, in a more detailed budget than the administration published in early May, the administration called for cuts of 43% to the NIH, about $20 billion a year. That includes cuts of nearly 40% to the National Cancer Institute. At the same time, the administration is threatening to end virtually all biomedical research at universities.

On Friday, May 23, the White House issued an executive order called “Restoring Gold Standard Science.” The order cites the COVID-19 guidance about school reopenings from the Centers for Disease Control and Prevention to claim that the federal government under President Joe Biden “used or promoted scientific information in a highly misleading manner.” (Schools closed in March 2020 under Trump.) The document orders that “[e]mployees shall not engage in scientific misconduct” and, scientists Colette Delawalla, Victor Ambros, Carl Bergstrom, Carol Greider, Michael Mann, and Brian Nosek explain in The Guardian, gives political appointees the power to silence any research they oppose “based on their own ‘judgment.’” They also have the power to punish those scientists whose work they find objectionable.

The Guardian authors note that science is “the most important long-term investment for humanity.” They recall the story of Soviet biologist Trofim Lysenko, who is a prime example of the terrible danger of replacing fact-based reality with ideology.

As Sam Kean of The Atlantic noted in 2017, Lysenko opposed science-based agriculture in the mid-20th century in favor of the pseudo-scientific idea that the environment alone shapes plants and animals. This idea reflected communist political thought, and Lysenko gained the favor of Soviet leader Joseph Stalin. Lysenko claimed that his own agricultural techniques, which included transforming one species into another, would dramatically increase crop yields. Government leaders declared that Lysenko’s ideas were the only correct ones, and anyone who disagreed with him was denounced. About 3,000 biologists whose work contradicted his were fired or sent to jail. Some were executed. Scientific research was effectively banned.

In the 1930s, Soviet leaders set out to “modernize” Soviet agriculture, and when their new state-run farming collectives failed, they turned to Lysenko to fix the problem with his new techniques. Almost everything planted according to his demands died or rotted. In the USSR and in China, which adopted his methods in the 1950s, at least 30 million people died of starvation.

“[W]hen the doctrines of science and the doctrines of communism clashed, he always chose the latter—confident that biology would conform to ideology in the end,” Kean said of Lysenko. He concludes: “It never did.”