October 28, 2026                                                         Home   Subscribe  Open in Browser

 

A weekly newsletter from the Institute for Policy Studies

 

Halloween under oligarchy,
union wins on political campaigns,
and data center moratoriums

Chuck Collins in costume

Living in oligarchic times can be plenty scary. But pushing back through humor can be one wonderful way to resist the powerful who’ve hijacked our economy and democracy. And what better time to do that resisting than Halloween!

One example: The satirical campaign, Trillionaires for Trump, is now out there pushing its “Stop the Vote” campaign. These “trillionaires” are dressing up as wannabe oligarchs and carrying downloadable signs. “Don’t Vote: Everything is Fine Just the Way It Is,” reads one. “One dollar, One vote,” reads another.

Speaking of dressing up as oligarchs, for Halloween two years ago, I went as Jeff Bezos, complete with a Blue Orbit space suit, cowboy hat, and champagne bottle. Last year, I went as a Tesla Truck running over a Starlink satellite. A lot of cardboard! Have a Halloween idea for this year? Send in your inequality-themed Halloween costume ideas and photos, and we’ll post them on our social media.

My Bernie “Boo Billionaires” scarecrow, meanwhile, is protecting my chickens.

Billionaires deserve booing now more than ever. Out in California, 22 billionaire snowflakes are running scared, spending over $300 million to oppose a one-time 5 percent wealth tax ballot measure. The combined personal wealth of these 22, our latest study shows, has jumped by 64 percent over the last 20 months.

Speaking of ballots, it’s not too late to join one of the many nonpartisan election protection activities now underway all around the country. I’ll be speaking Sunday at one in a church in western Massachusetts. Join in wherever you can. Thanks!

Chuck Collins
for the Institute for Policy Studies Inequality.org team

 

INEQUALITY BY THE NUMBERS

A skeleton hand holding a Snickers with the text: $151 billion, The combined wealth of the heirs to the Mars candy dynasty. Halloween candy costs have climbed 71% since 2021 - nearly triple the U.S. inflation rate. Source: Forbes real-time billionaires and FinanceBuzz, September 30, 2026
 

FACES ON THE FRONTLINES

AOC and staff

These Campaign Staffers Have Unionized To Build Stronger Campaigns

This week’s frontline faces: The campaign staff of Representative Alexandria Ocasio-Cortez, who have unionized with the Campaign Workers Guild.

What they’re doing to help create a more equal world: Campaign work can be demanding: Long hours, low pay, and limited benefits remain standard in an industry where workers are asked to sacrifice for a larger cause.

Corey Torpie, a photographer who took the great snap above, knows about these challenges firsthand. She first formally joined AOC’s staff in 2020, right before the staff chose to unionize. The new union’s first contract set a salary floor of at least $4,000 monthly and overtime pay after 40 hours a week. Since that initial contract, dozens of other campaign staffs have unionized.

What makes this fight so important: “Campaign workers organize their communities, connect with their neighbors, and help turn shared ideas into political change,” Torpie writes in a new piece on Inequality.org. “I believe that building a better future for our communities should also mean building better working conditions for the people who make that work possible.”

UNIONIZE CAMPAIGNS
 

BOLD SOLUTIONS

You Can Pause Data Center Construction Right in Your Hometown

The standard media discourse around AI and data centers treat this new tech as an inevitability: Either adapt to what the AI kingpins are insisting that you need or get left behind. The far different reality: You don’t have to accept the billionaire take on what AI must be, and you certainly don’t have to put up with a giant, noisy, polluting concrete box ten minutes from your home.

This week, on Inequality.org, we're spotlighting reflections by Jamie Jeffery, the mayor of Lochbuie, Colorado, about how her city passed a five-year moratorium on the construction of new data centers. Why did Lochbuie decide to slow the data center express? The city already faces water stresses that a data center would only exacerbate. On top of that: the overall climate impact of data centers. 

“Artificial Intelligence,” Jeffery writes, “has not yet surpassed good old-fashioned human common sense.”

STOP DATA CENTERS
 

CHART OF THE WEEK

A chart showing the wide racial wealth divide in America.

The staggering racial wealth gap has narrowed only slightly since 1989. The median Black family now has a net worth of $36,420, just 11 percent of the $332,120 median wealth of white families. At the current narrowing rate, closing the racial wealth gap will take another 640 years.

Newly released data from the Federal Reserve’s triennial Survey of Consumer Finances reveals another troubling trend: Black household wealth fell 24.5 percent between 2022 and 2025, partly because home values have seen a sharp decline. Homes make up much of Black family wealth.

Another reason why the racial wealth gap is now moving in the wrong direction: Trump rollbacks of anti-discrimination protections and social safety net programs.

For an interactive version of this chart and more on racial economic inequality, click the link to our Inequality.org Facts section below.

DIVE DEEPER
 

OVERPAID CEO OF THE WEEK

Jeffrey Leerink

This week’s overpaid CEO: Mark Zuckerberg of Meta. 

How Zuckerberg is driving inequality: On October 22, Senator Bernie Sanders, Rep. Pramila Jayapal, and 11 other U.S. lawmakers requested an urgent meeting with the tech oligarch to discuss evidence that his platforms — Facebook, Instagram, WhatsApp, and Threads — were suppressing content associated with the Brazilian presidential campaign of Luiz Inácio Lula da Silva and amplifying content favoring his rightwing opponent, Flávio Bolsonaro. 

Zuckerberg had a possible personal interest in interfering with Brazil’s election. Lula is championing a proposed annual wealth tax that would hit hard at global billionaires. The former labor union leader has also angered tech titans by decreeing that social media platforms be held liable for illegal content. 

Zuckerberg couldn’t be bothered to meet with the concerned U.S. lawmakers. But his platforms’ alleged political meddling in Brazil and elsewhere could lead to serious blowback, starting under what will soon be Lula’s fourth presidential term. 

Recent protests like the one above in Rio de Janeiro have already begun that blowback. Notes the banner: “Meta, stay out of it. Boycott Meta after the 25th.”

The last word: “This was an election in which we had to overcome outside interference coming in through digital platforms, which we are going to have to regulate,” Lula declared minutes after his re-election victory. “We cannot have monstrous companies earning billions, paying no taxes, and trying to steer this country’s electoral outcome.”

 

GREED AT A GLANCE

Kylie Jenner at the VS fashion show with the text: $50 million, The price tag for Kylie Jenner's bra at the Victoria's Secret fashion show. The cost of diamond-encrusted undergarment is equivalent to the annual salaries of 531 elementary school teachers. Source: Forbes, October 19, 2026 and Institute for Policy Studies, National Priorities Project tradeoff calculator
 

MUST READS

Harold Meyerson, SpaceX Is a De Facto Government Agency. It Should Be Nationalized, The American Prospect. Otherwise, the world’s richest man, Elon Musk, sets U.S. foreign policy.

 

Robert Reich, Why America Hates the Billionaire Barons of Big Tech, Substack. Apple CEO Tim Cook gave $1 million to Trump’s inaugural fund and $25 million to Trump’s White House ballroom campaign. Trump has given Apple lucrative exemptions from Trump’s tariffs.

 

Hamilton Nolan, Risk Factors: What Anthropic has to say for itself, How Things Work. The most exciting thing now on Wall Street and in Silicon Valley: a product with acknowledged “future risk factors” that include drastic increases in economic inequality and new risks from biological weapons.

 

Lynn Parramore, Wall Street is Coming for Your Burger, Institute for New Economic Thinking. We need to push lawmakers to close the loopholes that let private equity kingpins load businesses with debt, extract cash, and leave us with burgers that rate as all bun and no beef.

 

Caleb Ecarma, Amazon’s “digital pacifier” for toddlers, Oligarch Watch. A tablet for toddlers! What will Jeff Bezos think of next! Something to help little kids mature? No, something pediatricians warn will stunt kids’ ability to think independently — but will help Bezos make even more billions.

 

Ben Poston, Who Are the Billionaires Behind the $304 Million Effort To Defeat California’s Wealth Tax? Capital & Main. Opponents of the billionaire tax have outraised supporters by more than a 9-to-1 ratio.

 

Anna D’Amico, Mark Zuckerberg Will Stay in California Even If Billionaire Tax Passes — After Spending $112 Million on Palo Alto Megacompound, Realtor. The world’s sixth-richest man — net worth $250 billion — has no plans to exit California to avoid what for him would be a $12.5 billion wealth tax. Small wonder. He’s spent 15 years turning much of what had been a beloved California neighborhood into an over-the-top private luxury estate.

 

Dean Baker, The Rich are Awful People, Let Me Count the Ways, Beat the Press. If we want to limit the ability of billionaires to buy democracy, we have to go beyond worrying about campaign contributions. If billionaires control everything we see and hear via the media and social media, they won’t have to spend a penny on poisoning elections. 

 

Jawanza James Williams and Ange Tran, Tax the Rich! We Intend to Confront the Billionaires Face-to-Face, Common Dreams. Will the ultra-rich double down on authoritarianism and runaway inequality? Or will they recognize that America works best when it works for all of us, not just the wealthy few?

 

Gridlock: What’s blocking higher taxes on wealth? Tax Justice UK. Moves to significantly tax wealth face resistance from a variety of directions that range from billionaire control over media narratives to fears that our economies “need” the rich to stay happy and content.

 

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Institute for Policy Studies
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Managing Editor: Chris Mills Rodrigo
Co-Editors: Sarah Anderson, Chuck Collins, Bella DeVaan, Reyanna James, and Sam Pizzigati

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