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On October 18, Scott Kirby, Chief Executive Officer of United Airlines, gave an interview in which he described wealth inequality as a threat to American society. During the discussion, Kirby proposed establishing a national wealth tax and suggested that inheritance taxes should approach 100% for the highest levels of assets. The CEO specified that such taxation could not be managed at the state level due to risks of tax evasion and stated his personal willingness to pay these taxes.
Why it matters
The statements triggered an immediate political debate, especially ahead of the California elections scheduled for November. In California, voters will decide on a proposed one-time 5% tax aimed at the state’s billionaires, a measure that estimates suggest could generate tens of billions of dollars in temporary revenue primarily designated for the healthcare sector. Kirby’s position comes amid a context where the wealth gap in the United States is at its highest level in at least 30 years, according to data from the Center for American Progress.
The political reaction was sharp. Louisiana Governor Jeff Landry called Kirby’s words “bold” for a manager who did not found the company and receives a high salary. On platforms like X, public figures such as Glenn Beck launched calls to boycott United Airlines flights. Conservative media, including Fox Business and New York Post, highlighted the contrast between the CEO’s tax proposals and his personal compensation.
The numbers
According to Kiplinger, Scott Kirby’s estimated net worth is approximately $125 million. Financial data from 2025 indicates that his annual earnings amount to $32 million. On the macroeconomic front, the top 1% of the population holds nearly 32% of total national wealth, equal to about $55 trillion, while the bottom half of the population owns only 2.5%. Currently, the maximum federal rate on inheritance tax is 40%, with an exemption of $15 million per person and $30 million for couples for those who die in 2026.
What remains to be understood
Despite the scope of the proposals, Kirby did not provide a detailed plan on how these new taxes would operate. In particular, it was not specified what wealth threshold or inheritance value should be subject to a rate close to 100%. Furthermore, it remains to be seen whether the CEO’s statements will have a concrete impact on the outcome of the vote in California or if they will translate into federal legislative proposals.
Sources: The Guardian US Business, Kiplinger.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
* Content created with the assistance of artificial intelligence systems.