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alexandria ocasio-cortez
Billionaires' Tax Filings Agree With AOC. They Don't "Earn" Their Billions.
Elon Musk would need to work 58 times longer than the age of the universe to "earn" his wealth.
May 29, 2026
Rep. Alexandria Ocasio-Cortez (D-NY) kicked off a storm when she said in a podcast interview last week that a person cannot “earn” a billion dollars.
Republican Sen. Ted Cruz of Texas responded by saying that the statement was “bizarrely foolish” and then pointed to the worst possible example he could think of to counter Ocasio-Cortez’s point: mega-billionaire Elon Musk.
In the eyes of the US government, and specifically the IRS, there’s no question about it. Elon Musk did not “earn” his wealth. Otherwise, he’d be paying a tax rate at least 17 times greater than he is—and generating a tax bill bigger than the GDP of Nevada.
Unless you’re immortal, Ocasio-Cortez is indeed correct that it’s impossible to earn a billion dollars.
The average US worker, earning $64,505 a year, would have to work over 15,500 years to “earn” a billion dollars. Want to be as rich as Elon Musk? You’d have to work 41 times longer than humans existed—over 12 million years.
But what if you are Elon Musk? How long would it you take then? A billion years to earn a billion dollars, and 800 billion years to earn $800 billion—so, 58 times longer than the existence of the known universe.
Now that’s bizarre.
The average US worker, earning $64,505 a year, would have to work over 15,500 years to “earn” a billion dollars. Want to be as rich as Elon Musk? You’d have to work 41 times longer than humans existed—over 12 million years.
Elon Musk—like Mark Zuckerburg, Larry Elison and many of the world’s other richest men—only “earns” $1 a year. He is what's known as a $1 CEO because he gets paid an annual salary of $1.
What most people don’t realize when we talk about wealth and wealth taxes is that we’re talking about two types of wealth. There’s earned wealth, which is when you get paid for you what you do (eg salaries, wages, etc). And then there’s collected wealth, which is when you get paid for what you own—eg dividends for owning stocks or rent money for owning real estate.
Most people primarily rely on earned wealth for a living. Billionaires on the other hand, their wealth is almost entirely collected wealth.
And that matters, because collected wealth tends to grow a lot faster than earned wealth, but more importantly, because governments tend to tax collected wealth a lot less than earned wealth.
In fact, billionaires very often deliberately reshuffle their wealth around into collected types of wealth specifically to underreport what they “earn” to the IRS and pay less income tax. It’s why Elon Musk can be the world’s richest man on an annual salary of $1. It’s why he and Jeff Bezos have been able to pay zero income taxes in some years while topping the Forbes richest people's list. It's also why Bezos was able to receive a family tax credit for families earning less than $100,000 a year.
But it gets even more bizarre.
Many billionaires aren’t just not earning much, they’re hopelessly in debt—apparently. Many of them are actually living off huge loans that they don’t expect to pay off in their lifetimes. It’s a scheme called “Buy, Borrow, Die.”
Taking their tax allergies to the extreme, rather than selling assets to get the money they need to actually pay for things, some billionaires take out loans against their assets instead. This way, they don’t have to pay the taxes that would have applied if they sold their assets, plus they get to hold on to the assets which can become worth even more over time. And because the money they get this way is technically loan money, it doesn’t count as earned income—and so they can continue to underreport their “earnings” to the IRS and underpay tax.
It might come as a shock to Sen Cruz, but many US billionaires, like his example Elon Musk, have done all they can to “earn” as little to none of their wealth, and some have even gone so far as to “indebt” their billions instead.
But why should we care about any of this?
Because it’s this two-tier tax system that gives special treatment to collected wealth over earned wealth that has allowed the extreme wealth of super-rich individuals to quadruple since the 1980s.
The rise of extreme wealth is directly linked to lower economic productivity, to more households going into debt, and to people living shorter lives. A G20 report co-authored by winner of the Nobel prize for economics Joseph Stiglitz warns that extreme wealth is a threat to democracy.
What makes wealth taxes so powerful—and so opposed by a vocal minority among the superrich—isn’t just the huge sums of public funds they can bring in. It’s that by specifically taxing collected wealth, wealth taxes directly challenge this two-tier tax system. It’s about protecting economies, people and planet from the harms of extreme wealth.
Whether you’re a wealth earner or a wealth collector, we all have an equal responsibility to pitch in our fair share.
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Ocasio-Cortez Corners EPA Administrator on Water Quality Near Data Centers
Ocasio-Cortez recently met with families in Morgan County, Georgia who said a nearby Meta data center had degraded their local wells and "now rely on bottled water to drink and prepare meals."
May 21, 2026
Rep. Alexandria Ocasio Cortez on Wednesday confronted a Trump Environmental Protection Agency official about the impact of artificial intelligence data centers on Americans' drinking water.
During a hearing held by the House Committee on Energy and Commerce, Ocasio-Cortez (D-NY) grilled EPA Assistant Administrator for Water Jessica Kramer about whether the Trump administration had looked into complaints from communities across the US about nearby data centers causing a decline in water quality.
Kramer indicated that she was aware of the complaints being made about data centers' water usage, but said she hadn't heard anything about their negative impact on water quality.
At this point, the New York Democrat discussed a recent trip she made to Morgan County, Georgia, where local residents said that their tap water had turned brown since tech giant Meta began building a massive data center campus nearby.
"They are clear-cutting forests and began heavy construction, including blasting," Ocasio-Cortez said. "And families in the area are starting to see not only their water pressure decrease... but their appliances have all stopped working because it is decimating their water quality. They now rely on bottled water to drink and prepare meals, and nearby residents' water bills are expected to increase by 33%."
Ocasio-Cortez then pulled out a jar of brown water that she had taken from a local tap in Morgan County to demonstrate the severe decline in quality.
"The only difference between clear water and this was that data center," she said. "This wasn't just one well. This wasn't just one family's situation. This is what the drinking water now looks like next to that data center."
EXCLUSIVE: @AOC calls for a congressional investigation into the impact of data centers.
We took her to meet residents in a Trump +50 county in Georgia whose well water was polluted by Meta’s massive data center.
“That absolutely merits...national congressional investigation." pic.twitter.com/VS7I38MzAB
— More Perfect Union (@MorePerfectUS) May 18, 2026
Ocasio-Cortez pressed Kramer about whether the Trump EPA was planning to investigate whether data centers were causing mass degradation of water throughout the country.
"As soon as I get back into my office, I will be looking into exactly what you just talked about," replied Kramer. "Because anywhere, whatever type of construction it is, it is a priority to ensure that water quality standards established by EPA are being met. So we'll be looking into that."
Earlier this year, Ocasio-Cortez joined with Sen. Bernie Sanders (I-Vt.) to introduce a bill that would impose a nationwide moratorium on AI data center construction "until strong national safeguards are in place to protect workers, consumers, and communities, defend privacy and civil rights, and ensure these technologies do not harm our environment."
At the same time, Leading the Future—a super political action committee backed by venture capital firm Andreessen Horowitz, Palantir co-founder Joe Lonsdale, and other AI heavyweights—is spending at least $100 million in the 2026 midterm elections to elect lawmakers who aim to pass legislation that would set a single set of AI regulations across the US, overriding any restrictions placed on the technology by state governments.
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AOC Among Lawmakers Saying US Troops 'Must Disobey' Trump Order to Destroy Iranian Civilization
"We can still stop this," said one think tank.
Apr 07, 2026
As US lawmakers and the international community registered President Donald Trump's threat to commit genocide in Iran on Tuesday, rights advocates demanded action from Trump's Cabinet, congressional leaders, and the country's European allies to take action—while US Rep. Alexandria Ocasio-Cortez issued a reminder that the president can be stopped by a lack of action as well, if those in the US military chain of command refuse to carry out his orders.
Trump's threat to wipe out Iran's civilization of 93 million people "merits removal from office," said Ocasio-Cortez (D-NY). "To every individual in the president’s chain of command: You have a duty to refuse illegal orders. That includes carrying out this threat."
Rep. Ted Lieu (D-Calif.) also addressed the Joint Chiefs of Staff, whose chairman, Dan Caine, has been joining Defense Secretary Pete Hegseth in briefings recently as Hegseth has made bellicose threats against Iran and portrayed the unprovoked US-Israeli assault as a holy war.
Lieu reminded the top military leaders that the Uniform Code of Military Justice (UCMJ) and federal law prohibit war crimes.
"Obviously eradicating a whole civilization constitutes a war crime. You must disobey that order," said the congressman. "If you commit war crimes, the next administration will prosecute you."
Erik Sperling, executive director of think tank Just Foreign Policy, called on Senate and House Democrats, including those on committees that oversee the armed services and foreign relations, to make Lieu's threat "absolutely clear."
"We can still stop this," said Just Foreign Policy on social media.
Journalist Ryan Grim of Drop Site News added that federal laws prohibiting war crimes "will apply in January 2029," after Trump is out of office.
Since Trump took office for his second term in January 2025, Democratic lawmakers have previously issued reminders to the US military that the UCMJ prohibits service members from carrying out illegal orders, with six House members and senators releasing a video in November—as the Pentagon was continuing its bombings of boats in the Caribbean Sea and eastern Pacific Ocean and threatening to attack Venezuela—to remind them, "You must refuse illegal orders."
Sen. Elissa Slotkin (D-Mich.) was among the lawmakers who participated in the video. On Tuesday the former CIA analyst addressed service members across the military once again, warning that "targeting civilians en masse would be a clear violation of the law of armed conflict as laid out in the Geneva Conventions, as well as the Pentagon's Law of War Manual."
"If [service members] are today or have been asked to do things that violate the law and their training, it puts them in very real legal jeopardy. I know that our service members up and down the chain of command know their duty and the law to refuse illegal orders," said Slotkin. "It’s moments like these that are why we made the video to service members last year. And I hope and believe our troops—especially those in command—will have the moral clarity to push back if they are given clearly illegal orders.
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