Sanders: If You Paid $1 in Taxes, You Paid More Than Citigroup
Sanders puts Citigroup in the tax spotlight
Senator Bernie Sanders has said that if you paid $1 in federal income taxes last year, you paid more than Citigroup did.
In the statement shared by Unusual Whales, Sanders pointed to $4 billion in profits at the bank, a 32.74% interest rate on its credit cards, and a plan cutting 20,000 jobs.
The jobs figure lines up with Citigroup's own restructuring. The bank has been working through a plan to eliminate 20,000 roles by the end of 2026 under Chief Executive Jane Fraser, a overhaul aimed at cutting costs and simplifying the bank.
Why the line lands
The comment is built to contrast three things at once: a large profit figure, a high borrowing cost for card customers, and a smaller workforce.
It also keeps the corporate tax debate in front of voters. Sanders has argued for years that large, profitable companies use loopholes and offshore structures to lower their federal tax bills, and Citigroup is now his latest example.
Treat the specific tax, profit, and card rate figures as Sanders' claims. They were presented in his statement and have not been independently confirmed in a separate reputable report for this story.
Do you want to see how to make more plays? Do you want to find gains yourself? Unusual Whales helps you find market opportunities through our market tide, historical options flow, GEX, and much, much more. Create a free account here to start conquering the market with Unusual Whales
How this could hit the options market
Tax and rate cap talk tends to hit bank stocks first. If pressure builds for higher corporate taxes or a cap on credit card interest, traders will watch margins and card revenue at names like C, JPM, and BAC.
Card heavy lenders are the most exposed to any rate cap discussion. Keep an eye on unusual call and put flow in COF and SYF if this argument turns into legislation.
For now, this is rhetoric, not law. But rhetoric from a national figure can move positioning fast when it names a single stock.
Ready to track the flow around stories like this? Sign up for Unusual Whales and start finding your next play today.