Do billionaires have a right to exist?

America has driven more than 650 species to extinction. And it should do the same to billionaires.

Why? Because there are only five ways to become one, and they’re all bad for free-market capitalism:

1. Exploit a Monopoly.

Jamie Dimon is worth $2 billion today… but not because he succeeded in the “free market.” In 2008, the government bailed out his bank JPMorgan and other giant Wall Street banks, keeping them off the endangered species list.

This government “insurance policy” scored these struggling Mom-and-Pop megabanks an estimated $34 billion a year.

But doesn’t entrepreneur Jeff Bezos deserve his billions for building Amazon?

No, because he also built a monopoly that’s been charged by the federal government and 17 states for inflating prices, overcharging sellers, and stifling competition like a predator in the wild.

With better anti-monopoly enforcement, Bezos would be worth closer to his fair-market value.

2. Exploit Inside Information

Steven A. Cohen, worth roughly $20 billion headed a hedge fund charged by the Justice Department with insider trading “on a scale without known precedent.” Another innovator!

Taming insider trading would level the investing field between the C Suite and Main Street.

3.  Buy Off Politicians

That’s a great way to become a billionaire! The Koch family and Koch Industries saved roughly $1 billion a year from the Trump tax cut they and allies spent $20 million lobbying for. What a return on investment!

If we had tougher lobbying laws, political corruption would go extinct.

4. Defraud Investors

Adam Neumann conned investors out of hundreds of millions for WeWork, an office-sharing startup. WeWork didn’t make a nickel of profit, but Neumann still funded his extravagant lifestyle, including a $60 million private jet. Not exactly “sharing.”

Elizabeth Holmes was convicted of fraud for her blood-testing company, Theranos. So was Sam Bankman-Fried of crypto-exchange FTX. Remember a supposed billionaire named Donald Trump? He was also found to have committed fraud.

Presumably, if we had tougher anti-fraud laws, more would be caught and there’d be fewer billionaires to preserve.

5. Get Money From Rich Relatives

About 60 percent of all wealth in America today is inherited.

That’s because loopholes in U.S. tax law —lobbied for by the wealthy — allow rich families to avoid taxes on assets they inherit. And the estate tax has been so defanged that fewer than 0.2 percent of estates have paid it in recent years.

Tax reform would disrupt the circle of life for the rich, stopping them from automatically becoming billionaires at their birth, or someone else’s death.

Now, don’t get me wrong. I’m not arguing against big rewards for entrepreneurs and inventors. But do today’s entrepreneurs really need billions of dollars? Couldn’t they survive on a measly hundred million?

Because they’re now using those billions to erode American institutions. They spent fortunes bringing Supreme Court justices with them into the wild.They treated news organizations and social media platforms like prey, and they turned their relationships with politicians into patronage troughs.

This has created an America where fewer than ever can become millionaires (or even thousandaires) through hard work and actual innovation.

If capitalism were working properly, billionaires would have gone the way of the dodo.

Donald Trump thinks presidents should be allowed to commit crimes. Rubbish.

Trump claims that quote, “A PRESIDENT OF THE UNITED STATES MUST HAVE FULL IMMUNITY” from prosecution for any crime committed while in office. His lawyers even claim that a president could be immune from prosecution for having a political opponent assassinated.

Trump says anything less than total immunity would quote, "incapacitate every future president.” Baloney. It would incapacitate him! He’s the only president who’s been criminally charged with trying to orchestrate a violent coup on January 6th, 2021.

Trump wants to turn the U.S. president into a supreme ruler — who is not bound to the same laws that everybody else is — the very antithesis of the bedrock values this country was founded on. A president shouldn’t be above the law.

In reality, this is all part of Trump’s plan to avoid accountability. He wants to gum up the legal system to delay his federal trial until after the 2024 election. If he really believed he was innocent, wouldn’t he want to have a trial as soon as possible?

Just as bad, the Supreme Court is abetting his plan by dragging its feet.

Trump’s criminal trial in the January 6 case was supposed to begin in March. But now, it’s on hold until Trump’s immunity claim is resolved by the Supreme Court. Who knows how long that will take?

The high court could have ruled on Trump’s immunity claim immediately — which Special Counsel Jack Smith asked it to do last December. Instead, the Supreme Court accepted Trump’s request not to expedite a ruling. Trump’s immunity claim then went slowly through the lower courts, which, not surprisingly, found that, no, presidents DO NOT have carte blanche to commit crimes.

The Supreme Court then had another chance to expedite a ruling on this, but it took weeks even to set a date for arguments.

The Supreme Court can move quickly when it wants to. When Trump appealed Colorado’s decision to keep him off the state ballot, the Supreme Court rushed to get a ruling out before the Colorado primary. Shouldn’t the court move with the same urgency on Trump’s immunity claim? Otherwise, Trump’s January 6th trial may not be decided before the presidential election.

Voters are entitled to know before casting their ballots whether they are choosing a felon for president.

RFK Junior is not who you think he is.

It pains me to say it, but he is a dangerous nutcase.

He claims to want to heal America, but his vision for our future is tainted by his endorsements of hateful conspiracy theories – and the fact that he is being funded in large part by donors aligned with Donald Trump.

It’s time to lift the curtain on a campaign based on false, irresponsible, and self-contradictory claims.

RFK Junior repeatedly promoted a right-wing conspiracy theory that chemicals in the water are turning people gay or transgender.

He suggested COVID-19 was a bioweapon, mysteriously designed to spare Jewish people.

[RFK Jr.: “COVID-19 is targeted to attack Caucasians and Black people. The people who are most immune are Ashkenazi Jews and Chinese.”]

He’s spent years spreading anti-vaxx lies.

And in his 2021 book, RFK Junior alleged, with no plausible evidence, that Dr. Fauci performed genocidal experiments, sabotaged treatments for AIDS, and conspired with Bill Gates to suppress information about COVID-19.

These are not the words of someone who is serious about leading – let alone healing – this country.

As someone who once worked for his father, RFK, and admired his uncle, JFK, I’m disturbed to see RFK Junior speak this way.

RFK Senior would never have suggested that a deadly virus was targeted at certain races. And as president, JFK signed the Vaccination Assistance Act in order to, “achieve as quickly as possible the protection of the population, especially of all preschool children.”

If not for his illustrious name – and role as a potential spoiler – RFK Junior would be just another crackpot in the growing pool of fringe politicians.

It’s no coincidence that he shares top backers with the likes of Donald Trump and Marjorie Taylor Greene — or that Trump allies Roger Stone and Steve Bannon encouraged him to run in the first place.

But the Kennedy brand is political gold, and it could pull away just enough sympathetic voters to tip the race toward Trump.

Democracy won by a whisker in 2020. Just 44,000 votes in Arizona, Georgia, and Wisconsin decided the outcome. If RFK Junior — or any third-party candidate — peels off just a fraction of the vote from Biden, while Trump’s base stays with him, they will deliver a victory to Trump.

If Junior had any respect for the principles his father fought and ultimately died for, he would withdraw his candidacy. Immediately.

It’s a paradox. Inflation is dropping but prices aren’t coming down. How can this be?

Because corporations have enough monopoly power to keep them high.

Here’s just one example that will make you fizz: Pepsi.

In 2021, PepsiCo, which makes all sorts of drinks and snacks, announced it was forced to raise prices due to “higher costs.” Forced? Really? The company reported $11 billion in profit that year.

In 2023 PepsiCo’s chief financial officer said that even though inflation was dropping, its prices would not. Pepsi hiked its prices by double digits and announced plans to keep them high in 2024.

How can they get away with this?

Well, if Pepsi were challenged by tougher competition, consumers would just buy something cheaper. But PepsiCo’s only major soda competitor is Coca-Cola, which – surprise, surprise - announced similar price hikes at about the same time as Pepsi, and also kept its prices high in 2023. The CEO of Coca-Cola claimed that the company had “earned the right” to push price hikes because its sodas are popular. Popular? The only thing that’s popular these days seems to be corporate price gouging.

We’re seeing this pattern across much of the economy — especially with groceries. Inflation is down. You see, the rate of inflation measures how quickly prices are rising. Prices are now rising far more slowly than in the past couple of years. And while supply chain disruptions really did make it more expensive to produce a lot of goods, the cost to produce them now is rising even more slowly than prices.

But consumer prices are still up, allowing most corporations to keep their profit margins near a 10-year high.

They can get away with overcharging you because they have monopoly power — or so few competitors they can easily coordinate price increases.  

If Pepsi and Coca-Cola had lots of competitors, they wouldn’t be able to raise prices so high because someone would make cheaper substitutes, and consumers would buy those instead. But Pepsi and Coke own most of the substitutes!

This isn’t just happening with Coke and Pepsi. Take meat products. At the end of 2023, Americans were paying at least 30% more for beef, pork, and poultry products than they were in 2020.

Why? Near-monopoly power! Just four companies now control processing of 80 percent of beef, nearly 70 percent of pork, and almost 60 percent of poultry. So of course, it’s easy for them to coordinate price increases.

And this goes well beyond the grocery store. In 75 percent of U.S. industries, fewer companies now control more of their markets than they did twenty years ago.

So what can we do?

Well, it’s largely flown under the media radar, but the Biden administration is taking on this monopolization with the aggressive use of antitrust laws.

It’s taken action against alleged price fixing in the meat industry — which has been a problem for decades.

It’s suing Amazon for using its dominance to artificially jack up prices — one of the biggest anti-monopoly lawsuits in a generation.

It successfully sued to block the merger of JetBlue and Spirit Airlines, which would have made consolidation in the airline industry even worse.

But given how concentrated American industry has become, there’s still a long way to go. Inflation is down. But many people don’t feel it because prices are still high, and in some cases are still rising because of continued price gouging.

This is where you have more power than you might think.

You might not be able to break up big corporations, but you can keep up the pressure on our government to fight corporate monopoly power.

And help spread the truth by sharing this video.

You’ve heard Trump’s promise:

TRUMP: I’m going to be a dictator for one day.

History shows there are no “one-day” dictatorships. When democracies fall, they typically fall completely.

In a previous video, I laid out the defining traits of fascism and how MAGA Republicans embody them. But how could Trump — or someone like him — actually turn America into a fascist state? Here’s how in five steps.

Step 1: Use threats of violence to gain power

Hitler and Mussolini relied on their vigilante militias to intimidate voters and local officials. We watched Trump try to do the same in 2020.

TRUMP: Proud Boys, stand back and stand by.

Republican election officials testified to the threats they faced when they refused Trump’s demands to falsify the election results.

RAFFENSPERGER: My email, my cell phone was doxxed.

RUSTY BOWERS: They have had video panel trucks with videos of me proclaiming me to be a pedophile.

GABRIEL STERLING: A 20-something tech in Gwinnett County today has death threats and a noose put out saying he should be hung for treason.

If the next election is close, threats to voters and election officials could be enough to sabotage it.

Step 2: Consolidate power

After taking office, a would-be fascist must turn every arm of government into a tool of the party. One of Hitler’s first steps was to take over the civil service, purging it of non-Nazis.

In October of 2020, Trump issued his own executive order that would have enabled him to fire tens of thousands of civil servants and replace them with MAGA loyalists. He never got to act on it, but he’s now promising to apply it to the entire civil service.

That’s become the centerpiece of something called Project 2025, a presidential agenda assembled by MAGA Republicans, that would, as the AP put it, “dismantle the US government and replace it with Trump’s vision.”

Step 3: Establish a police state

Hitler used the imaginary threat of “the poison of foreign races” to justify taking control of the military and police, placing both under his top general, and granting law-enforcement powers to his civilian militias.

Now Trump is using the same language to claim he needs similar powers to deal with immigrants.

Trump plans to deploy troops within the U.S. to conduct immigration raids and round up what he estimates to be 18 million people who would be placed in mass-detention camps while their fate is decided.

And even though crime is actually down across the nation, Trump is citing an imaginary crime wave to justify sending troops into blue cities and states against the will of governors and mayors.

Trump insiders say he plans to invoke the Insurrection Act to have the military crush civilian protests. We saw a glimpse of that in 2020, when Trump deployed the National Guard against peaceful protesters outside the White House.

And with promises to pardon January 6 criminals and stop prosecutions of right-wing domestic terrorists, Trump would empower groups like the Proud Boys to act as MAGA enforcers.

Step 4: Jail the opposition

In classic dictatorial fashion, Trump is now openly threatening to prosecute his opponents.

TRUMP: if I happen to be president and I see somebody who’s doing well and beating me very badly, I say, ‘Go down and indict them.’ They’d be out of business.

And he’s looking to remake the Justice Department into a tool for his personal vendettas.

TRUMP: As we completely overhaul the federal Department of Justice and FBI, we will also launch sweeping civil rights investigations into Marxist local district attorneys.

In the model of Hitler and Mussolini, Trump describes his opponents as subhuman.

TRUMP: …the radical left thugs that live like vermin within the confines of our country…

Step 5: Undermine the free press

As Hitler well understood, a fascist needs to control the flow of information. Trump has been attacking the press for years.

And he’s threatening to punish news outlets whose coverage he dislikes.

He has helped to reduce trust in the media to such a historic low that his supporters now view him as their most trusted source of information.

Within a democracy, we may often have leaders we don’t like. But we have the power to change them — at the ballot box and through public pressure. Once fascism takes hold, those freedoms are gone and can’t easily be won back.

We must recognize the threat of fascism when it appears, and do everything in our power to stop it.