Supermajority of Americans Support Raising Taxes on Musk, Billionaires
WASHINGTON, D.C. — After it was reported that newly-minted trillionaire Elon Musk plans to pour tens of millions of dollars into the 2026 midterms to boost Republican voter turnout, Tax the Greedy Billionaires Campaign Director Igor Volsky issued the following statement:
“Elon Musk’s latest attempt to manipulate our elections is yet another example of billionaires weaponizing their wealth against us. After failing to sway Wisconsin’s Supreme Court race, Musk is once again using his excessive wealth to influence the political process—all because a growing number of elected officials and candidates are calling to break up the stranglehold billionaires have over our economy and democracy.
“Unless we act now, the unprecedented wealth the billionaire class hoards—and the power that comes with it—will let them keep controlling everything from our elections to what we pay for groceries, housing, health care, and energy. That’s precisely why Congress must implement a robust, nationwide wealth tax—one that reduces the wealth and power of the ultra-wealthy so no one can override the will of the people.”
How Musk Used Wealth Built on Public Investment to Rig System:
Musk’s businesses received at least $38 billion in government contracts, loans, subsidies, and tax credits since 2003. Taxpayers took all the risk and bore all the costs, Musk privatized all the profit.
For years, Elon Musk has leveraged his unchecked excessive wealth and unprecedented power to further rig the system in his favor, pushing his agenda through our government and controlling the information ecosystem.
- Musk personally financed the Trump campaign’s ground operations and gave individual Trump voters $1 million per day in a legally dubious scheme to pay for votes.
- After bankrolling Trump’s campaign, Musk’s unrivaled influence over the president gave him a government position he used to reshape the federal government, gain access to the sensitive financial data of millions of Americans, targeting agencies investigating him, and fire the federal regulators charged with protecting us from his companies’ corporate malfeasance.
- After Must bought Twitter for $44 billion, he transformed the platform into a pro-Trump echo chamber overrun with hate speech. Billionaires increasingly control and limit what tens of millions of Americans are seeing on a daily basis across news and social media platforms—whether that’s Murdoch’s Wall Street Journal and Bezos’ Washington Post, or David Ellison’s Paramount Skydance controlling a dozen cable channels.
Musk isn’t alone. The ultra-wealthy are using their excessive wealth to benefit candidates and campaigns that will unquestionably back their agenda, pouring nearly $2 billion into the 2026 midterms—largely in favor of Republicans and conservative causes.
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