Institute on Taxation and Economic Policy

November 4, 2025

Oxfam: UNEQUAL: The Rise of a New American Oligarchy and the Agenda We Need

ITEP Work in Action

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This past year has been indelibly shaped by concentrated wealth and power. The 10 richest U.S. billionaires got $698 billion wealthier, and the arrival of the world’s first trillionaire grew more imminent. 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.

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Quoted Staff Member