United CEO advocates for wealth tax despite multi-million dollar pay

Kirby reiterated his position on CNBC’s Squawk Box, emphasizing the concept of fairness. “I think a wealth tax… is just about fairness…. If you’re wealthy enough, you can put money aside, and by the way, I think it would apply to me, put money aside, let it grow forever, never realize income on it, you can let it grow forever and it never gets taxed,” he explained. The current U.S. tax system taxes income, with the top rate of 37% applying to single filers’ taxable income above $626,350 in 2025, but unrealized investment gains are not taxed.

His views are notable given his position at a Fortune 500 company, United Airlines, which generated $59.1 billion in revenue last year. Kirby maintains that these are personal views and he has no interest in politics or policymaking. He prefers a system with lower income taxes and higher taxes on wealth gains.

Mariana Trujillo, managing director of government finance at the Reason Foundation, argues that a wealth tax could hinder economic growth by discouraging investment and entrepreneurship. She contrasts this with inheritance taxes, which apply only once upon transfer of assets, noting that annual wealth taxes can incentivize wealthy individuals and their capital to relocate. Several European countries, including France, Sweden, and Germany, previously abandoned wealth taxes due to concerns about capital flight, administrative costs, and disappointing revenues. Norway, Spain, and Switzerland currently maintain such taxes.

Trujillo also suggested that Kirby could directly contribute to charitable causes if he believes his wealth could be better utilized. California recently tested a state-level wealth tax with Proposition 40, a proposed one-time 5% tax on residents with a net worth exceeding $1 billion. Voters rejected the measure on November 9, with 52.8% opposed, despite support from six Nobel Prize-winning economists. Opponents spent approximately $378 million against the proposition, compared to $33.5 million raised by supporters.

Kirby believes a national approach is necessary to avoid people simply moving to avoid taxation. He reported receiving roughly equal numbers of supportive and critical emails regarding his comments, suggesting a divided public opinion on the matter.