As the richest men in the US (all multi-billionaires) buy up media and technology companies at a dizzying pace, it’s logical to assume America is a wealthy nation. In reality, the US is broke, tasked with funding an escalating, costly war that lacks an exit strategy while simultaneously funding massive tax cuts for corporations and the wealthiest 5 percent of U.S. citizens.
According to the Institution on Taxation and Economic Policy, a combination of President Trump’s One Big Beautiful Bill Act (OBBBA), termination of the Enhanced Premium Tax Credit and tariffs have resulted in increased taxes for all but the top wealthiest five percent of Americans. OBBBA alone is expected to provide $1 trillion in tax cuts for the richest one percent of Americans over the next decade, while cutting Medicaid by almost as much during the same time period.
The US is spending an estimated half a billion dollars each day to fight Israel’s holy war against Iran. And the Pentagon is now asking Congress to approve potentially $200 billion more. The funds would reportedly be used to increase production of munitions that the U.S. and Israel have used to strike thousands of targets since the conflict began.
“It takes money to kill bad guys,” Secretary of War Pete Hegseth said at a press briefing today about the request. “Today, will be the largest strike package yet, just like yesterday was. Our capabilities continue to build, Iran’s continue to degrade. We’re hunting and striking. Death and destruction from above.”
A chief economist warned this week that a U.S. recession is a “serious threat,” while gas prices have risen by close to $1 a gallon since the war began. Hegseth’s request will now force the U.S. Congress to decide whether they should continue to represent the interests of their Israeli donors or their constituents.
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