Out-of-State, Moneyed Interests Spent $70 Million Yet Failed to Block Leader Who Ran on Taxing Billionaires
Supermajority of Americans Support Raising Taxes on Musk, Billionaires
LANSING, Mich. — After Abdul El-Sayed won Michigan’s Senate primary, Tax the Greedy Billionaires Campaign Director Igor Volsky issued the following statement:
“At a time when the federal government prioritizes the financial interests of billionaires over everyone and everything else, Michigan voters backed a leader who will take back the wealth and power billionaires hoard. The ultra-wealthy and moneyed interests spent a record $70 million trying to stop El-Sayed, underscoring exactly why we must reduce their wealth and power through the wealth tax he proposed.
“Voters want leaders who offer real solutions to the unprecedented influence billionaires wield over our democracy and our economy, not vague policy proposals or empty promises that the rich will ‘pay their fair share.’ If leaders in Washington are serious about taking power back from the ultra-wealthy and returning it to the people, then they must support policies that actually reduce the wealth and power of billionaires.”
Abdul El-Sayed staked out clear ground with a wealth tax proposal like those proposed by Rep. Khanna and Sens. Sanders and Warren. Instead of asking billionaires to “pay their fair share,” El-Sayed backs a robust wealth tax to reduce billionaire power over our economy and democracy—one reason billionaires and monied interests spent a record $70 million in this primary trying to keep him out of the Senate.
Nearly 8 in 10 voters back taxing billionaires, including a vast majority of Independent and Republican voters. That underscores that reining in excessive wealth isn’t a partisan political issue, and leaders like El-Sayed offering real solutions to this crisis have broad appeal.
Polling shows an overwhelming 50-point electoral advantage for candidates that take a bold stance on taxing billionaires. Three in five voters (62%) prefer a candidate who supports raising taxes on billionaires, while only 12% support those opposed.
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