Scott Kirby told Bloomberg Television on Wednesday that he supports a national wealth tax because the wealthiest Americans can avoid taxes on investment gains. He said, "It's not a policy advocacy, but I just think that the basic concept is one of fairness," and added that "If you're wealthy enough, you can have passive income, you can just make an investment and the laws are set up that you literally never pay taxes on all that growth that can happen. And that just feels unfair to me."
Kirby also argued we should tax the increase in wealthy individuals' asset values while lowering income taxes on wage earners. He called for mandatory national service and said, "We need to stop punting some of our problems to the next generation." He noted his personal stake, saying, "I have seven kids. I care about what the country is going to be like for them."
Kirby first mentioned the idea in a New York Times interview on Oct. 18, where he said, "We should have a national wealth tax - it won't work by state because people will just move," and added, "I would pay them." Conservative figures responded critically, with Louisiana Governor Jeff Landry posting on X and telling Kirby to "simply cut a check." When asked whether he would redistribute part of his own fortune to lower-paid United employees, Kirby replied, "Of course not." He also said, "Even if Elon Musk decided to do it, and he's a trillionaire, it's not enough to make a difference."
Kirby's political comments arrived as United provided fresh financial guidance. The Chicago-based carrier projected adjusted fourth-quarter earnings of $0.50 to $1.50 per share, while analysts had expected $1.88 per share on average. United also reported that fuel costs rose 61.6% to $4.84 billion in the previous quarter, and that the weaker-than-expected fourth-quarter guidance and rising fuel costs were squeezing airline profits.
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What this means for your portfolio is that leadership headlines can overlap with concrete company figures. Kirby's views put United in the headlines, while the company's guidance and sharply higher fuel costs are the immediate drivers of its profit outlook. If you own airline stocks, those numbers and how the market digests the CEO's comments are part of the mix you will see reflected in prices.
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