“The Oppose Limitless Inequality Growth and Reverse Community Harms (OLIGARCH) Act to tax extreme wealth, reduce inequality, and combat the threat to democracy posed by aristocracy,” said a July 26 press release. Introduced by Representatives Barbara Lee (D-Calif.), Summer Lee (D-Pa.), Jamaal Bowman (D-N.Y.), and Rashida Tlaib (D-Mich.), the OLIGARCH Act proposes taxing anywhere from 2 to 8 percent of the wealth held by the ultra-rich annually.
“Inequality in the United States is worse in 2023 than it was […]
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