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World Economy Apr 01, 2026

Bernie Sanders Proposes 5% Wealth Tax on U.S. Billionaires to Fund Health, Housing and Education

Senator Bernie Sanders urges a 5% wealth tax on the nation’s 938 billionaires, arguing it would rai…
America faces an unprecedented concentration of wealth: the richest 1% now control more assets than the bottom 93% of households, and a single individual, Elon Musk, with a net worth of $805 billion, holds more wealth than the lower‑half of the population combined.Recent tax policies have amplified this gap. In the year following the largest tax cut in U.S. history, 938 billionaires added $1.5 trillion to their fortunes, while President Trump and his family saw a modest increase of $4 billion. Four Wall Street giants—BlackRock, Vanguard, Fidelity and State Street—own stakes in more than 95 % of publicly traded companies, cementing corporate dominance across the economy.Political influence mirrors financial power: by the 2026 midterms, just 50 billionaires had poured over $433 million into campaign activities, shaping policy to protect their interests.Meanwhile, the average American worker is earning roughly $20 per week less than in 1973 after inflation adjustment, despite decades of productivity gains. The Rand Corporation estimates that $79 trillion has shifted from the bottom 90 % to the top 1 % over the past half‑century.Economic hardship is widespread: 60 % of households live paycheck to paycheck, nearly half of older workers lack retirement savings, and over 20 % of seniors survive on less than $15,000 annually. Health‑care insecurity affects 85 million Americans, with more than 500,000 filing for bankruptcy each year due to medical debt.At the heart of the problem is a tax code engineered by the affluent. Billionaires now pay lower effective rates than typical workers. For example, Musk’s tax rate sits below 3.3 % compared with an 8.4 % rate for a truck driver; Jeff Bezos paid under 1 % versus 8.7 % for a firefighter; Michael Bloomberg’s rate was 1.3 % against 13.3 % for a registered nurse; and Warren Buffett’s rate was a mere 0.1 % while a schoolteacher paid nearly 10 %.Corporate tax avoidance compounds the issue. After a $900 billion corporate tax break, major firms such as Tesla, SpaceX, Palantir, Ticketmaster and the parent of Taco Bell, Pizza Hut and KFC reported zero federal income tax despite generating over $17 billion in profit.Public sentiment is shifting. In California, voters favor a billionaire tax by a two‑to‑one margin, and in New York City, 62 % back a 2 % surtax on the ultra‑wealthy. Nationwide, more than six in ten Americans believe the wealthy and large corporations pay too little.In response, Senator Sanders introduced legislation to impose a 5 % wealth tax on the 938 billionaires whose combined net worth exceeds $8.2 trillion. Over a decade, the measure would generate roughly $4.4 trillion.The first‑year rollout would deliver a $3,000 direct payment to every household earning $150,000 or less—equating to $12,000 for a typical family of four. Additional provisions include constructing 7 million affordable housing units, expanding Medicare to cover dental, vision and hearing, providing universal childcare, raising the minimum teacher salary to $60,000, and guaranteeing Medicaid‑funded home health care for seniors and people with disabilities.Crucially, the plan would reverse recent health‑care cuts that stripped coverage from 15 million Americans, ensuring no additional loss of insurance.Even if the tax were applied retroactively, the impact on the ultra‑rich would be modest relative to their fortunes: Elon Musk would owe an extra $42 billion, Mark Zuckerberg an additional $11 billion, and Jeff Bezos another $11 billion—figures that would barely dent their net worths.As Justice Louis Brandeis warned in 1933, “We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we cannot have both.” Senator Sanders argues the choice is clear: a democratic economy that serves the many, not a plutocratic system that serves the 1 %.The wealthiest Americans must begin contributing their fair share.
#tax #than #more
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World Economy Apr 01, 2026

UK Must Fast‑Track Clean‑Energy Overhaul to Shield Economy from Fossil‑Fuel Shock

A looming fossil‑fuel shock, driven by the Iran conflict and global gas shortages, threatens UK inf…
Energy crises do more than lift household bills; they can reshape an entire economy. In the 1970s the United Kingdom responded to oil shortages by expanding North Sea extraction and becoming a net energy exporter. Today, with a 10 million‑barrel‑per‑day supply deficit and a fifth of global LNG trade under strain, that strategy no longer offers security.The UK is now acutely vulnerable to volatile gas prices. Inflation expectations are rising, markets anticipate higher interest rates, and borrowing costs have surged to levels not seen since the 2008 financial crisis. The ripple effect is already evident in food markets, where inflation hit 3.3 % in February and could climb sharply within three months.New data reveal that the hundreds of North Sea licences granted since 2010 have added merely 36 days of extra gas production. Major oil majors such as BP are re‑emphasising oil and gas to reassure investors, while Shell continues aggressive share‑buy‑backs. The reality is clear: fossil‑fuel giants cannot be the rescue plan.Gas should no longer set the price floor for electricity. As the grid leans more on wind and solar, gas must be treated as a backup resource, compensated with a fixed or regulated price rather than wholesale market volatility. Research from University College London and Common Wealth outlines a practical model for this approach.Beyond market reforms, households need a safety net. An essential energy guarantee—a capped, affordable band of consumption for every home—mirrors schemes adopted in Austria, the Netherlands and Poland after the 2022 crisis and would be more targeted than the current blanket price‑support guarantee.Similarly, a protected basket of staple foods, backed by long‑term procurement and direct support for domestic producers, could stabilise prices. France’s 2023 anti‑inflation shopping‑basket experiment offers a template, and the UK already supplies over 60 % of its own food, though it remains dependent on imports for fruits, vegetables, rice and fertilisers.The long‑term solution lies in renewable power. Record wind generation this year has already reduced gas‑fired output, while consumer interest in solar panels, batteries and heat pumps is soaring. A typical solar‑plus‑battery system can slash a household’s electricity bill to under £2 per month, and electric‑vehicle owners can save more than £1,000 annually on fuel costs.To unlock these savings, the government must back financing mechanisms such as zero‑interest loans, subscription‑style purchases for solar and heat‑pump kits, and leasing schemes for electric vehicles. On a larger scale, a dual‑interest‑rate policy—standard rates for the broader economy and preferential, low‑cost funding for clean‑energy projects—could mirror the green‑lending models already used by China’s central bank and the Bank of Japan.In short, the United Kingdom faces a decisive moment. The 1970s taught that energy shocks can remake a nation; the question now is whether the UK will seize this crisis to protect living standards and build a resilient, low‑carbon energy system for the decades ahead.
#energy #gas #can
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Video Apr 01, 2026

Israeli Airstrike in Gaza Claims Life of Father and Toddler, Raising Civilian Casualty Concerns

An Israeli air attack in Gaza killed a father and his two‑year‑old son, underscoring the growing ci…
An Israeli airstrike in the Gaza Strip resulted in the deaths of a father and his two‑year‑old son, according to a report from Al Jazeera dated March 31, 2026. The incident highlights the persistent risk to civilians amid ongoing hostilities between Israel and Hamas. While the specific location of the strike was not disclosed, the loss of a child has intensified international scrutiny over the proportionality of military operations in densely populated areas. Humanitarian groups have repeatedly warned that such casualties can exacerbate humanitarian crises and fuel further resentment among the local population. Analysts note that civilian deaths, especially of children, often shape diplomatic narratives and can influence foreign policy responses. Each civilian casualty not only deepens the human tragedy but also complicates efforts toward ceasefire negotiations and post‑conflict reconstruction. The incident arrives at a time when both sides are under pressure to adhere to international humanitarian law. Observers stress that protecting non‑combatants is a legal and moral imperative that, if ignored, could lead to broader regional instability. As the situation evolves, the international community is likely to monitor the incident closely, with potential implications for aid delivery, diplomatic engagements, and future military strategies in the region.
#israeli #air #attack
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News Apr 01, 2026

Ukraine Proposes Easter Ceasefire to Russia via US Mediators

Ukrainian President Volodymyr Zelenskyy plans to ask US mediators to relay an offer of an Easter ce…
Ukrainian President Volodymyr Zelenskyy has announced that he will ask US mediators to convey his proposal for an Easter ceasefire to Russia. This offer aims to suspend attacks on Ukraine's energy facilities during the Easter holidays.Zelenskyy made this statement on the sidelines of an event marking the fourth anniversary of Ukraine's Bucha massacre. He plans to discuss this proposal with US envoys Steve Witkoff and Jared Kushner in online talks scheduled for Wednesday.“I will definitely convey this proposal to the United States,” Zelenskyy said. “We are ready for a ceasefire for the Easter holidays … We are ready for any compromises, except compromises involving our dignity and sovereignty.”Earlier, Kremlin spokesman Dmitry Peskov responded coolly to Zelenskyy's previous mention of an energy truce, stating that they hadn't seen any clearly formulated initiatives for an Easter truce from Zelenskyy.Zelenskyy's offer comes after he mentioned that some of Ukraine's allies had sent signals about potentially scaling back long-range strikes on Russia's oil sector due to surging global energy prices.Ukraine has escalated its attacks on Russian energy to prevent Russia from benefiting from high oil prices and easing sanctions. In return, Zelenskyy stated that Ukraine is ready to reciprocate if Russia stops attacking the Ukrainian energy system.The US, Russia, and Ukraine have held three rounds of high-level trilateral talks this year, but progress has been stalled, particularly on the issue of territory in eastern Ukraine. Russia insists that Ukraine cede control of the Donbas region, which Zelenskyy has refused to consider.Zelenskyy also mentioned that Russia has told the US it could conquer the remainder of the Donbas region in two months, but Kyiv believes it can continue defending its "fortress belt" of industrial towns and cities in the Donbas for years.
#russia #ukraine #zelenskyy
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News Apr 01, 2026

Iranian Ambassador Defies Lebanese Expulsion, Backed by Hezbollah as Political Rift Deepens Amid War

Lebanon’s foreign minister declared Iran’s envoy persona non grata, yet ambassador Mohammad Reza Sh…
Beirut, Lebanon – On 24 March, Foreign Minister Youssef Raggi announced that Iran’s ambassador to Lebanon, Mohammad Reza Sheibani, was declared persona non grata and ordered to depart by 29 March. Two days after the deadline, the envoy remained in Beirut, refusing to leave. The episode unfolds against a broader conflict that has already claimed more than 1,000 lives and displaced over 1.2 million people within a single month of Israeli military action in Lebanon. It also highlights a deepening schism in Lebanese politics between supporters of the pro‑Iranian Shia militia Hezbollah and those demanding its disarmament. Imad Salamey, a political scientist at the Lebanese American University, told Al Jazeera that the ambassador’s defiance is a symptom of a larger contest over legitimacy and authority. IRGC’s Strategic Role Iran’s Islamic Revolutionary Guard Corps (IRGC) helped forge Hezbollah in 1982 as a response to Israel’s invasion. Over the decades, Tehran’s billions of dollars in funding elevated Hezbollah to Lebanon’s most powerful political and military force. Hezbollah’s popularity peaked in 2000 after driving Israeli forces from south Lebanon, but subsequent engagements—including the 2006 war, the 2008 Beirut street battles, the Syrian civil war, and the 2019 domestic protests—have eroded its broader support. When Hezbollah entered open conflict with Israel on 8 October 2023, it enjoyed limited backing beyond the Shia community. By the November 2024 cease‑fire, the group was at a low point, with Israel having killed more than 4,000 Lebanese, including leader Hassan Nasrallah and much of Hezbollah’s command. International pressure then mounted for Hezbollah’s disarmament, prompting Prime Minister Nawaf Salam and President Joseph Aoun to prioritize the issue. According to several analysts, the IRGC exploited the cease‑fire lull to dispatch officials to Lebanon, restructuring Hezbollah’s command and possibly ordering its re‑entry into the war on 2 March—just days after Iran’s Supreme Leader Ali Khamenei was assassinated. Prime Minister Salam has publicly claimed the IRGC is “managing the military operation in Lebanon” and even accused Tehran of launching an attack on Cyprus. Ambassador Refuses to Exit In response to the perceived IRGC influence, Raggi’s declaration stripped Sheibani of diplomatic immunity. Dania Arayssi, senior analyst at the New Lines Institute, described the move as a “landmark decision” given Iran’s entrenched role in Lebanese politics. Iran’s Foreign Ministry, however, maintains that Sheibani will not depart, and Hezbollah has openly pledged to protect him, warning that any government attempt to disarm the militia will be met with “punishment.” Parliament Speaker Nabih Berri—longtime Hezbollah ally—initially backed the government’s ban on Hezbollah’s military activity after the March re‑entry, illustrating the fluidity of alliances within Lebanon’s power‑sharing system. State Authority Tested Hezbollah’s renewed campaign, which includes dozens of cross‑border attacks and direct engagements with Israeli forces on Lebanese soil, is reshaping the political calculus. The militia’s revived confidence challenges the Lebanese government’s ability to enforce disarmament. While the ambassador remains protected inside the Iranian diplomatic compound—effectively beyond the reach of Lebanese law—critics argue that Tehran’s refusal to honor the expulsion order undermines the state’s authority, already weakened by months of war. Salamey summed up the dilemma: “The state is asserting its authority on paper, but internal divisions and competing claims of legitimacy constrain its practical power, testing the limits of Lebanon’s fragile power‑sharing arrangement.”
#lebanon #iran #hezbollah
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Politics Apr 01, 2026

UN humanitarian chief urges Security Council to act as Israel signals intent to occupy southern Lebanon

UN humanitarian chief Tom Fletcher warned the Security Council that Israel plans to establish a sec…
During an emergency session of the United Nations Security Council, humanitarian chief Tom Fletcher pressed members to outline concrete measures for safeguarding Lebanese civilians as Israel intensifies its ground offensive and aerial bombardment.Fletcher highlighted the stark parallel between Israel’s stated objectives in Lebanon and the ongoing genocidal war in Gaza, asking the council how it intends to prevent a repeat of the humanitarian catastrophe witnessed there.Since the escalation on 2 March, more than 1.1 million people have been forced from their homes across Lebanon, a displacement surge linked to Israel’s retaliatory strikes after Hezbollah fired missiles into northern Israel.In a video address, Israeli Defence Minister Israel Katz announced that, once the current operation concludes, the Israeli army will establish a security zone extending to the Litani River and maintain control over the area, effectively creating a new occupied territory.Israeli forces have pushed deeper into the south this week, claiming the moves are necessary to shield northern Israeli communities from missile attacks. Human‑rights organisations have condemned the expansion, warning that targeting civilian infrastructure and preventing residents from returning would exacerbate the crisis.The heightened conflict has also claimed the lives of three UN peacekeepers. Two Indonesian soldiers were killed on Monday when an unexplained explosion destroyed their vehicle near the village of Bani Haiyyan, while a third Indonesian peacekeeper died the previous day after a projectile detonated at a UNIFIL post near Aadshit al‑Qusayr.UN Under‑Secretary‑General for Peace Operations Jean‑Pierre Lacroix said early investigations suggest a roadside blast was responsible for the Monday deaths, emphasizing that such incidents must not occur and that peacekeepers should never be targeted.A spokesperson for Secretary‑General Antonio Guterres condemned the attacks, stating they breach international law and could constitute war crimes. The statement called for accountability and urged all parties to uphold their legal obligations to protect UN personnel and property at all times.
#Tom Fletcher #United Nations Security Council #Israel
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Politics Apr 01, 2026

Iranian Foreign Minister Confirms Direct Contact with US Envoy Witkoff, Denies Ongoing Negotiations Amid War

Iran’s foreign minister Abbas Araghchi acknowledged receiving messages from US special envoy Steve …
Iranian Foreign Minister Abbas Araghchi told Al Jazeera that Tehran has been exchanging messages with the United States, either directly or via regional partners, as the US‑Israel war on Iran continues. He emphasized that these contacts do not constitute formal negotiations. "I receive messages from US special envoy Steve Witkoff directly, as before, and this does not mean that we are in negotiations," Araghchi said. He added that all communications are routed through the Foreign Ministry or security agencies, and there is no truth to claims of active talks with any US party. Reflecting on past diplomatic experience, Araghchi recalled a previous agreement—referring to the 2015 Joint Comprehensive Plan of Action (JCPOA)—that the United States later abandoned. "We do not have any faith that negotiations with the US will yield results; the trust level is at zero," he asserted. President Masoud Pezeshkian echoed the skepticism, stating that the US "does not believe in diplomacy" after Iran was attacked twice during prior negotiations. In a phone call with European Council President Antonio Costa, Pezeshkian said Iran possesses the "necessary will" to end the war, but insists on guarantees to prevent further aggression. US Defence Secretary Pete Hegseth countered, saying Washington aims to secure a deal that would end the conflict and reopen the Strait of Hormuz, yet remains prepared to "negotiate with bombs" if needed. Addressing the strategic waterway, Araghchi noted that the strait lies within Oman’s and Iran’s territorial waters and can be used strategically. "Only for the ships of those who are at war with us, this strait is closed. That is normal during war," he explained, adding that some nations avoid the route due to security concerns and high insurance costs, while others have negotiated access. He warned that any post‑war arrangement for the strait will be decided jointly by Oman and Iran, with the potential to transform it into a "peaceful waterway." Regarding rumors of a possible US ground operation, Araghchi said Tehran is unafraid: "We are waiting for them. I don’t think they’d dare to do such a thing. There will be a lot of strength waiting for them." He affirmed Iran’s readiness to repel any ground attack. The foreign minister clarified that Iran has neither responded to nor submitted any counter‑proposals to the US 15‑point plan aimed at ending the war. The proposal, according to earlier reports, calls for Iran to renounce the acquisition of nuclear weapons and to limit its missile stockpile in range and quantity. Araghchi concluded that Iran will only accept an end to all attacks in the region, not merely a ceasefire, underscoring the country's firm stance amid ongoing hostilities.
#Abbas Araghchi #Steve Witkoff #Strait of Hormuz
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News Mar 31, 2026

Deadly Violence Escalates in Gaza and West Bank as Holy Sites Remain Closed

The situation in Palestine has escalated with at least 18 people killed in the Gaza Strip and the o…
The recent surge in violence in Palestine has resulted in a significant escalation of tensions, with at least 18 people killed in the Gaza Strip and the occupied West Bank. The majority of those killed were victims of Israeli air strikes in Gaza, while a combination of settler and army shootings killed three people in the West Bank.The violence comes as Israel continues to restrict worship at Palestinian holy sites, ostensibly due to the threat of Iranian attacks. The Al-Aqsa Mosque compound has been closed to Muslim worshippers since late February, with authorities extending the state of emergency until mid-April. Additionally, Israeli forces prevented Cardinal Pierbattista Pizzaballa, the Latin patriarch of Jerusalem, from entering the Church of the Holy Sepulchre in occupied East Jerusalem to perform Palm Sunday mass.A global backlash, including soft criticism from United States Ambassador to Israel Mike Huckabee, led to Israeli Prime Minister Benjamin Netanyahu promising “a plan to enable church leaders to worship at the holy site in the coming days”. In Gaza, the week brought a surge in Israeli air strikes and artillery fire, often targeting police forces – a campaign Israeli officials describe as aimed at degrading Hamas’s control over the territory.However, the prospect of reaching the plan’s promised second stage – when reconstruction can begin – appears remote. Instead, the months-long status quo of repeated Israeli strikes on Palestinians in Gaza continues. At least 705 Palestinians have been killed in Gaza since the beginning of the October “ceasefire”, according to the Palestinian state news agency Wafa.Amid heavily restricted aid and stormy weather flooding the tents of hundreds of thousands of displaced Palestinians, humanitarian conditions also continue to deteriorate in Gaza. The Ministry of Health warned on Sunday that fuel and parts shortages for hospital generators threatened to halt medical services entirely.
#gaza #israel #palestine
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News Mar 31, 2026

Eight Evacuated Gaza Toddlers Return Home After Two Years, Highlighting a Rare Humanitarian Reunion Amid Ongoing Conflict

Eight toddlers who were evacuated as premature babies from al‑Shifa Hospital during the 2023 Israel…
Eight former premature infants who were airlifted out of al‑Shifa Hospital in November 2023 have been brought back to Gaza, reuniting with their families in Rafah after a humanitarian mission lasting over two years.The children were part of a cohort of at least 25 babies born prematurely who were rescued as Israeli forces stormed the Gaza City medical complex. After receiving critical treatment abroad, the eight toddlers returned accompanied by three relatives and two medical staff, according to the Palestine Red Crescent Society.Hundreds of thousands gathered in Rafah for the emotional reunion. Since the war began in October 2023, the conflict has claimed more than 72,200 lives, including tens of thousands of women and children."Our feelings are indescribable. This is the most important moment in our lives," said Samer Lulu, father of Kinda Lulu, to Al Jazeera. He added that the joy is tempered by the harsh reality of an uncertain future for Gaza’s children.The International Rescue Committee (IRC) warned that the war is reshaping family structures, leaving a growing number of children without parental care. Ulrike Julia, the IRC’s Child Protection Coordinator, emphasized that community‑based care is essential but cannot survive without sustained external assistance.In 2023, the infants were first moved from al‑Shifa to southern Gaza and then evacuated to Egypt for life‑saving treatment. Inside Gaza’s hospitals, doctors faced severe shortages of antibiotics, IV solutions, and even food, supplies that were reportedly blocked by Israeli restrictions.Ola Hijji, mother of toddler Sulaiman Hijji, recalled being forced into a caesarean section at eight months pregnant and losing contact with her child after he was transferred to al‑Shifa’s neonatal intensive care unit. "It’s a beautiful feeling to be reunited," she said.Despite a declared ceasefire in October 2025, Israeli strikes continue near‑daily. The Gaza Health Ministry reported that recent attacks killed over 700 Palestinians and injured many more, including five casualties in a single day of airstrikes across Jabalia and Khan Younis.These reunions underscore the resilience of Gaza’s families while highlighting the urgent need for sustained humanitarian support and a durable path to peace.
#gaza #israel #rafah
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