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The oligarchs must be expropriated. This is the central conclusion from the massive payout for Tesla CEO Elon Musk, valued at more than $45 billion. 

Musk’s $45 billion is 1.2 million times the median income in the United States, which is currently at $37,500. Musk’s payout is the equivalent of what is earned, before taxes, by 1.2 million workers in an entire year making the median income.

Put another way, a worker making $15 an hour would have to work for 3 billion hours (375 million days, 1.5 million years) to equal $45 billion.

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The need to “expropriate the expropriators”—to abolish capitalism and replace it with socialism, in the US and throughout the world—is the basic issue. The oligarchs, engorged on wealth, have normalized mass death in the pandemic, normalized fascism and dictatorship, normalized genocide in Gaza, and are driving humanity to the abyss of nuclear war.

The obscene wealth accumulated by the corporate and financial oligarchy must be seized and redirected to meet pressing social needs. The gigantic corporations and financial institutions must be placed under democratic control, run on the basis of social need and not private profit.

The fight for socialism is not an automatic process. It requires the active involvement of individuals like you.

Here are three things you can do now:

1. Read the rest of my statement and share it as widely as possible on social media.

2. If you have not already, sign up for updates and volunteer for the SEP election campaign. Tell us where you are located, and we’ll get in contact as soon as possible to discuss what you can do.

3. Donate as much as you can to the SEP election campaign today. We don’t have the backing of Musk and other oligarchs. We require your support.

Fraternally,

Joseph Kishore
Socialist Equality Party 2024 presidential candidate