The Gild and the Billed

A coalition of billionaires is teaming up to fight a proposed wealth tax in California. The idea of a one-time, one-state wealth tax probably isn’t the ideal way to address the exploding economic divide in America. But it says something about the numbers at stake that one opponent alone, Google co-founder Sergey Brin, has put $82 million into the effort. Despite the cries of victimization and calls to fix the system from many of the most fortunate Americans, one can make the argument that there’s never been a group of people who have benefited more from the confluence of technologies, markets, and policies than today’s billionaires. That’s one end of the American food chain. At the other end, there’s a struggle for food. In addition to the economic divide, many of the poorest Americans have seen the One Big Beautiful Bill take one big bite out of their SNAP benefits. At the very moment the richest are making historical gains, the poor are experiencing the deepest cuts in SNAP history. The administration’s strategy is to increase the paperwork and bureaucracy between people and food, and in places like Arizona, it seems to be working as intended. “The number of Arizonans getting SNAP benefits has fallen by about half in less than a year, a remarkable drop in nutrition aid that may preview the program’s future nationwide following a landmark law to limit assistance that President Trump championed last year.” NYT (Gift Article): Faced With Piles of New Paperwork, People Are Losing Food Stamps.

+ WaPo (Gift Article): 1.5 million children lost food aid since last July, analysis says.