U.S. Billionaires See Their Net Worth Skyrocket in Trump’s First Year

America’s 10 richest billionaires have gotten even richer under Donald Trump, with their collective wealth increasing by nearly $700 billion in the past year, according to a new report by Oxfam America.

Though the report, titled “UNEQUAL: The rise of a new American oligarchy and the agenda we need,” outlines how specific policy decisions by both Democrats and Republicans have exacerbated wealth disparities over the last 30 years, it pinpoints just how dire Trump’s impact has been.

“The Trump administration—largely with the support of the Republican-controlled Congress—has moved with staggering speed and scale to carry out a relentless attack on working-class families, while enriching the wealthy and well-connected,” the report states.

Contrary to what the Trump administration likes to claim, the “big, beautiful bill” does not help everyday Americans. In fact, it was one of the “single largest transfers of wealth upwards in decades” because of its tax cuts for corporations and the rich, according to the report.

While the rich get richer, over 40 percent of Americans are now considered low-income, including over 50 percent of children. Compared to the other wealthiest nations, the United States has the highest rate of relative poverty, according to the report.

“Inequality is a policy choice,” Rebecca Riddell, Oxfam America’s senior policy lead for economic justice, told The Guardian. “These comparisons show us that we can make very different choices when it comes to poverty and inequality in our society.”

In order to stop the spiral into unprecedented inequality, the report recommends four solutions: rebalancing power through community-led efforts and antitrust regulations, taxing the rich and corporations, strengthening the social safety net, and supporting workers’ rights.

This report should be a wake-up call for anyone who voted for Trump out of financial desperation. Unless you can help fund his ballroom, the president doesn’t give a damn whether you can feed your family.

Mike Johnson just claimed he doesn’t know anything about President Donald Trump’s pardon of a cryptocryptocurrency billionaire—but don’t worry, Mr. Speaker, the president doesn’t know anything about it either!

During a press conference Monday, Johnson acted coy when asked about Trump’s 60 Minutes interview the day before. The president claimed he had no idea he’d granted a presidential pardon to Changpeng Zhao, the co-founder and former CEO of cryptocurrency exchange Binance, just months after Zhao did the president’s family’s cryptocurrency a $2 billion favor.

“Does that also concern you?” a reporter asked about Trump’s latest comments, citing Johnson’s previous arguments that all of Joe Biden’s pardons should be rendered “null and void.” House Republicans released a report last week on the previous administration’s alleged autopen use, though the report offered little in the way of actual evidence that the former president was unaware of any of his laws or pardons.

“I don’t know anything about that. I didn’t see the interview. You’re going to have to ask the president about that. I’m not sure,” Johnson said, before taking another question.

Johnson has been on a hot streak of responding to questions with “I don’t know” at his daily government shutdown press conference. The House speaker has conveniently forgotten how SNAP benefits got paid during the previous government shutdown, repeatedly claimed he hasn’t seen any videos of federal agents using excessive force against protesters or ICE arresting U.S. citizens, and even played dumb about who actually runs the government.

When asked on 60 Minutes about pardoning Zhao, Trump replied: “OK, are you ready? I don’t know who he is. I know he got a four-month sentence or something like that, and I heard it was a Biden witch hunt.”

The president then launched into an extended rant that was cut from the official version, where Trump seemed to suggest the decision had really come from his sons, who were “involved in crypto much more” than he is. “I know very little about it, other than one thing. It’s a huge industry,” he said, adding, “So I am behind it 100 percent.”

Trump repeatedly conflated his “opinion” on Zhao with what he was “told” about the case. “I have no idea who he is. I was told that he was a victim, just like I was and just like many other people, of a vicious, horrible group of people in the Biden administration,” Trump claimed.

When host Norah O’Donnell noted that the U.S. government had accused Zhao of “significant harm to U.S. national security,” Trump replied simply: “The Biden government.”

Trump’s comments suggest that his sons may be calling the shots on presidential pardons to the benefit of World Liberty Financial, the decentralized finance platform that is majority owned by a Trump business entity. Trump has served as the company’s “Chief Crypto Advocate,” while Eric and Don Jr. are both Web 3 Ambassadors, and Barron Trump is a “DeFi Visionary.” Binance has repeatedly boosted and incentivized the use of USD1, WLFI’s stablecoin, a cryptocurrency that maintains a value of $1.

Binance provided WLFI with its first significant boon in May, when the platform accepted a shady $2 billion investment from Abu Dhabi–based MGX made in Trump’s stablecoin. That announcement followed an April meeting between Zachary Witkoff, son of special U.S. envoy Steve Witkoff, who is a “promoter” of WLFI, and Zhao in Abu Dhabi where they discussed USD1.

America is on a righteous path as a harbinger of death, Senator Lindsey Graham told a room of Jewish conservatives regarding the topic of Israel and Hamas.

The South Carolina lawmaker spoke at the Republican Jewish Coalition in Las Vegas Saturday to waylay concerns about Tucker Carlson and Nick Fuentes after the ex–Fox News host gave a softball interview to the proud antisemite.

In a loose, rosy-cheeked speech, Graham affirmed that he’s in the “Hitler sucks wing of the Republican Party,” a denomination that apparently needs to be spelled out these days. In the same speech, Graham brushed off Fuentes’s interview while praising the Trump administration for “killing all the right people.”

“I’ve been asked a thousand times about this crazy interview. I keep telling people, ‘We’re good, our party is good,’” Graham said. “We’re real good.… If you asked me, you go to college, and you ask me a question, ‘Why do we spend so much on Israel, and don’t you think they get us involved in problems and blah blah blah?’ I would say you need to pick up a history book. We have no better friend than the state of Israel.

“Everyone who wants to kill the Jewish state wants to kill us too,” Graham added.

Carlson has been a sore thorn in the Republican Party since he began to voice opposition to Israeli influence in American politics. Turning Point USA, the conservative youth advocacy behemoth founded by the late Charlie Kirk, has suffered its own fallout from Carlson’s recent positions, reportedly losing a $2 million pledge from Robert Shillman, a Zionist tech billionaire, after the TV personality participated in a previous Turning Point event.

But Graham’s attempts to clean up Carlson’s mess only managed to muck the situation up even more.

“So what to do about Hamas?” Graham chortled. “Kill them off.”

He then advocated for making sure that Hamas “can’t survive” and expressed concerns that Gaza’s authority would “not play the game the way they should.”

Israel has already violated its ceasefire arrangement with Palestine several times, killing at least 236 people since the two nations agreed to stop the violence and return hostages. The U.S.-backed ethnic state has also seemingly violated another ceasefire, having demolished villages in Southern Lebanon in another one of its warfaring strategies.

“I just want to say, I feel good about the Republican Party. I feel good about where we’re going as a nation,” Graham said. “We’re killing all the right people, and we’re cutting your taxes.

“[Donald] Trump is my favorite president. We’ve run out of bombs, we didn’t run out of bombs in World War II,” he noted to celebrate the level of killing enacted by the current administration.

“As a coalition of Republicans—some Baptists, some Jewish—we organize ourselves around principles that we love and cherish,” Graham continued, highlighting “Israel” and “capitalism” as two of those principles. “We love Israel. We love the idea of Israel. We love the struggle they’ve been involved in. We love helping them because you’re helping yourself.

“To those who worry about these stupid interviews, and far off-places, don’t worry,” he added. “Don’t worry, the Republican Party has figured it out when it comes to Israel.”

The Trump administration’s freeze on Supplemental Nutrition Assistance Program funds during the government shutdown is forcing many struggling Americans to make hard decisions about feeding themselves and their families. Now the administration is even restricting how much grocery stories can help. 

After several food delivery apps and grocery store chains sought to offer discounts to those whose SNAP benefits were interrupted or delayed, the Department of Agriculture sent an email to stores across the country warning them that they weren’t allowed to offer discounts to people hurt by the cuts to the food stamp program.

MSNBC anchor Catherine Rampell posted a screenshot of the email on X Sunday, and reported that at least two stores withdrew their discounts after receiving the email. At issue is SNAP’s “Equal Treatment Rule,” which bars stores from either discriminating against people in the program or offering them favorable treatment.  

On Friday, two federal courts ruled that the Trump administration has to use contingency funds to pay for SNAP, but the government has yet to respond with how it intends to comply, leaving the program’s 41 million recipients in limbo as assistance ended on Saturday, the first day of November. And food retailers in low-income areas may themselves be hurt, as much of their customer base now can’t afford to shop. 

In the meantime, the government shutdown has now lasted more than a month and is nearing the 35-day record set by the first Trump administration from December 2018 to January 2019. Not only are many federal workers furloughed or in danger of losing their jobs but health care subsidies are also on the chopping block. It seems that Republicans are not concerned about the survival of much of America. 

As millions of Americans lose paychecks and SNAP benefits due to the ongoing government shutdown, Bernie Sanders urged Democrats not to back down in an op-ed in The Guardian Saturday.

Sanders positioned the shutdown as a standoff not between Republicans and Democrats but between a power-hungry president and the working families of America.

“This may be the most consequential moment in American history since the Civil War. We have a megalomaniacal president who, consumed by his quest for more and more power, is undermining our constitution and the rule of law,” Sanders wrote.

He also clarified that, unlike what Republicans say, this shutdown is not the Democrats’ responsibility to end. “In order to fund the government the Republican majority must negotiate with Democrats to move the budget forward. This is what has always happened—until now. Republicans, for the first time, are simply refusing to come to the table and negotiate.”

Speaking to his Democratic colleagues, Sanders wrote that he understands the pressure they’re under from constituents, but that they can’t forget that Republicans are receiving the same calls. “There is a reason why 14 Republican members of the House are on record calling for the extension of tax credits for the Affordable Care Act. Understandably, Republicans do not want to go home and explain to their constituents why they voted to double or, in some cases, triple healthcare premiums.”

But ultimately, Sanders wrote, what Democrats do next is bigger than a policy fight.

“If the Democrats cave now it would be a betrayal of the millions of Americans who have fought and died for democracy and our constitution. It would be a sellout of a working class that is struggling to survive in very difficult economic times. Democrats in Congress are the last remaining opposition to Trump’s quest for absolute power,” he wrote.

“The choice is clear,” Sanders concluded. “If the Democrats stand with the American people, the American people will stand with them. If they surrender, the American people will hold them accountable.”

Masked immigration officers in Chicago reportedly crashed into a woman’s car, pointed guns at her, dragged her out of her car by her legs—and then didn’t charge her with anything, The Chicago Tribune reported Monday.

As Dayanne Figueroa, a U.S. citizen, attempted to drive past a chaotic scene in West Town on Friday, an unmarked car collided with hers, according to multiple videos reviewed by the Tribune. Pedestrians had been yelling while drivers honked their horns to alert passerby that federal agents were making immigration arrests.

Federal agents exited the unmarked vehicle and trained their weapons on Figueroa. Agents forcibly opened her car door and pulled her out of her car by her legs, dragging her through the street. They did not identify themselves or tell her that she was under arrest.

Bystanders shouted: “You hit her! We have it on video!” Figueroa was then forced into a minivan and driven away, where she says she was transported to multiple undisclosed locations and denied the opportunity to contact family or legal counsel. Hours later, she was released without charges.

Figueroa’s family was not alerted to her arrest and only discovered she’d been taken by law enforcement after seeing a video of the crash on social media. Her mother said Figueroa had had kidney surgery in August, making the way agents threw her on the ground extra concerning. Figueroa’s family eventually was able to determine she was at the ICE processing center in Broadview, a suburb of Chicago, by pinging her iPhone location.

“I was in shock and terrified,” Figueroa told the Tribune. “The video evidence is clear: Agents crashed into me. I was not involved in any protest or related activity, and I intend to seek justice for how I was treated.”

In a statement to the Tribune, Tricia McLaughlin, assistant secretary at the Department of Homeland Security, claimed that Figueroa was part of the group demonstrating as immigration officers conducted arrests, and had “[struck] an unmarked government vehicle” as agents departed.

“In fear of public safety and of law enforcement, officers attempted to remove her from the vehicle. She violently resisted, kicking two agents and causing injuries. This agitator was arrested for assault on a federal agent,” McLaughlin said.

For what it’s worth, McLaughlin’s statements justifying horrific ICE arrests have ranged from missing essential details to contradicting witness testimony and straight-up lying about every single detail of an arrest.

Daniel Hogan, a witness who recorded the collision and contacted police after Figueroa’s car was left empty in the middle of the street, said it wasn’t surprising that Figueroa had fought back. “Of course she resisted,” Hogan told the Tribune. “She did nothing wrong. They never told her why they were taking her. They came at her with guns. She was scared.”

Figueroa was among several Chicago residents detained by federal law enforcement Friday for allegedly interfering with operations.

President Donald Trump’s immigration crackdown in Chicago has now stretched to its seventh week, as federal agents continue to terrorize the city’s residents—both citizens and noncitizens alike. Last month, ProPublica reported that more than 170 U.S. citizens have been detained by Immigration and Customs Enforcement, including 20 children.

FBI Director Kash Patel can’t believe that Americans don’t want him shuttling his girlfriend across the country with taxpayer money.

Last week, Patel was caught using a $60 million government jet to visit his girlfriend, country singer Alexis Wilkins, at a wrestling event at Penn State. The jet owner’s listed address, according to its FAA registration, is the FBI’s national headquarters in Washington. After Penn State, the plane’s flight log indicates it flew to Nashville, where Wilkins lives.

In a wordy social media post Sunday, Patel condemned press coverage of his latest scandal, deriding legacy media outlets as “uninformed internet anarchists,” while arguing that his girlfriend effectively deserved the multimillion-dollar airlift at taxpayers’ expense since she’s a “true patriot” and a “rock-solid conservative.”

“The disgustingly baseless attacks against Alexis—a true patriot and the woman I’m proud to call my partner in life—are beyond pathetic,” Patel wrote. “She is a rock-solid conservative and a country music sensation who has done more for this nation than most will in ten lifetimes. I’m so blessed she’s in my life.

“Attacking her isn’t just wrong—it’s cowardly and jeopardizes our safety. My love of family will always be my cornerstone, and you will never tear that down or keep me from them,” the FBI director continued, apparently claiming that any criticism of his government-funded spending habits as a top federal official is tantamount to harassment.

“I and this FBI will stay laser-focused on our mission and continue the reform we promised—rebuilding this Bureau from the ground up,” Patel said. “And to our supposed allies staying silent—your silence is louder than the clickbait haters.”

Since news of Patel’s pricey weekend fling went national, the FBI has forced FlightAware, a site that monitors international air traffic via publicly available information, to stop keeping tabs on Patel’s plane.

Patel also axed Steven Palmer, a 27-year veteran of the FBI responsible for overseeing the bureau’s air fleet, despite the fact that it was Wilkins who proved Patel was at the Penn State event by posting a string of photos to her social media accounts.

The entire situation is a bit of a hypocritical development for the former podcaster, who used to regularly chastise government officials for needless spending before joining the Trump administration. He relentlessly hounded the financial behavior of the man who previously filled his shoes—former FBI Director Chris Wray—even arguing in 2023 that the FBI should “ground” Wray’s private jet “that he pays for with taxpayer dollars to hop around the country.”

Meanwhile, the government has been shut down for more than 33 days, making it the second-longest federal closure in U.S. history. It’s only bested by a 35-day shutdown between 2018 and 2019 that occurred during Donald Trump’s first term.

The administration allowed SNAP benefits for more than 42 million Americans to expire on Saturday, thousands of federal workers have gone weeks without pay (not FBI agents), Affordable Care Act marketplace credits have lapsed in several states, and Trump is moving forward with building a $300 million ballroom partially bankrolled by several defense and surveillance contractors.

Donald Trump thinks his violent immigration raids haven’t gone far enough, and wants to escalate.

In the president’s interview with CBS’s 60 Minutes on Sunday, correspondent Norah O’Donnell asked Trump about the images coming from Chicago, where federal agents including Immigration and Customs Enforcement and Border Patrol have been assaulting suspected undocumented immigrants as well as protesters, using tear gas, and smashing car windows.

“Have some of these raids gone too far?” O’Donnell asked.

“No, I think they haven’t gone far enough because we’ve been held back by the judges, by the liberal judges that were put in by Biden and by Obama,” Trump said. When O’Donnell asked him if he was OK with the heavy-handed approach, the president was dismissive, claiming that many of the people apprehended are murderers and criminals.

Even Halloween didn’t damper immigration enforcement in Chicago, with Trump’s shock troops out in full force. Last week, Secretary of Homeland Security Kristi Noem was rather nonchalant when asked about the possibility of federal agents traumatizing children just trying to trick-or-treat.

Federal agents in Chicago have dragged people out of their cars, shot religious leaders with pepper balls, and threatened to shoot protesters with live ammunition. Not only could this be a preview of what Trump plans to do with other cities that he dislikes (and that are run by Democratic mayors of color), but it seems that he doesn’t think this level of cruelty is enough.

Funding the Supplemental Nutrition Assistance Program isn’t rocket science. But Treasury Secretary Scott Bessent is sure trying to make it seem like it is.

During CNN’s State of the Union Sunday, host Jake Tapper asked Bessent about rulings from two federal judges who ordered the Trump administration to obey the law and use emergency funds to pay SNAP benefits during the government shutdown.

“When can we expect the Trump administration to make these payments?” asked Tapper.

“Well, President Trump just Truthed out that he needs to hear from the courts how this is gonna be done, and Jake, as you know, the best way for SNAP benefits to get paid is for five democrats to cross the aisle and reopen the government,” Bessent said.

Tapper noted that the administration could simply dip into the contingency funds as outlined in USDA’s Lapse of Funding Plan—which was removed from the agency’s website in September. The Trump administration has since cited a USDA memo published in August that inexplicably claimed that SNAP contingency funds could not legally be used to cover regular benefits.

Bessent claimed that Trump was “very anxious” to resume SNAP benefits but insisted “it’s gotta go through the courts.”

“The courts keep jamming up things. Democrats are in the middle of a civil war. And they should just open the government; that is the easiest way to do this,” Bessent said.

“Is the administration going to appeal the ruling by the judge—is that what you mean by the courts need to weigh in? Because the courts have weighed in,” Tapper asked.

“No, but there’s a process that has to be followed. So we gotta figure out what the process is. President Trump wants to make sure that people get their food benefits,” Bessent replied, again urging Democrats to reopen the government.

On Friday, Trump claimed in a Truth Social post that the two courts had issued “conflicting” rulings and that his administration was seeking “appropriate legal direction.”

“Even if we get immediate guidance, it will unfortunately be delayed while States get the money out,” Trump wrote. “If we are given the appropriate legal direction by the Court, it will BE MY HONOR to provide the funding, just like I did with Military and Law Enforcement Pay.”

U.S. District Chief Judge John J. McConnell Jr. in Rhode Island issued a temporary restraining order requiring the Trump administration to dip into the USDA’s contingency funds. He added that the administration must deliver a plan for how it planned to pay for SNAP benefits by Monday at noon. Meanwhile, U.S. District Judge Indira Talwani in Boston did not issue a temporary restraining order, and gave the Trump administration until Monday to decide how to pay at least partial SNAP benefits.

While the two rulings were slightly different in their approaches, they both suggested the Trump administration dip into emergency funds. And each day the government delays in distributing funds prolongs the absence of essential food aid.

In a filing Friday, the Trump administration said it was “expeditiously attempting to comply” with McConnell’s order. “Clarity as to the Court’s ruling is critical to ensure that Defendants can comply with the Court’s order while avoiding an operational collapse,” DOJ lawyers wrote.

President Donald Trump desperately tried to pivot the conversation away from his tanking economy in an interview with 60 Minutes Sunday. When probed by Norah O’Donnell about grocery prices, Trump first flailed, before outright lying.

When the president brought up the stock market, O’Donnell pointed out that many Americans may not feel the effects of market growth in their wallets: “When the stock market is doing well, that doesn’t affect everybody. Not everybody is invested in the stock market—”

“It does,” insisted Trump. “Oh it does, it does.”

O’Donnell pushed ahead, observing, “Grocery prices are up.”

Trump ignored her, choosing to instead over-exaggerate the growth of 401(k) retirement savings accounts. O’Donnell, not taking the bait, tried again to get the president to answer her question: “But for people that don’t have 401(k)s, who are not invested in the stock market—they’ve seen their grocery prices go up.”

“No, you’re wrong.” Trump responded. “They went up under Biden, right now they’re going down. Other than beef, which we’re working on.”

In reality, grocery prices are not down—they’re up. Grocery prices are 2.7 percent higher than they were last September and 1.4 percent higher than January, when Trump triumphantly returned to office. They’re also still on the rise, according to data released by the Bureau of Labor Statistics last Friday. Overall, grocery prices have increased almost 30 percent in the last five years.

Though this is far from the first time that Trump has lied on camera, pretending that grocery prices are down is particularly egregious. The president campaigned on lowering prices, and has lied repeatedly about the fact that his nonsensical tariffs and cruel mass deportation campaign—which targets many of the people who grow and harvest our food—have hurt consumers.

Meanwhile, Trump is gilding the Oval Office and building a ballroom. At least he’s not out of touch!