American billionaires grew in number and expanded their collective fortunes by $2.1 trillion since Covid-19 sparked a worldwide pandemic nineteen months ago, according to a new analysis unveiled Monday.
“Targeted tax increases on billionaires, including the proposed Billionaire Income Tax, would rebalance the tax code and reduce these glaring abuses in who pays for the services we all depend on.”
An overall 70% surge of wealth among the nation’s richest individuals since March of 2020 has resulted in approximately 130 new billionaires, found the new report released by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). In a statement, the groups noted that there are now 745 people with “10-figure bank accounts” compared to the 614 that existed when the pandemic first hit.
In total, those 745 billionaires now hold $5 trillion in collective wealth, which the groups note is “two-thirds more than the $3 trillion in wealth held by the bottom 50% of U.S. households.”
While ATF and […]
Stephen, you fail to note that Elon Musk has done more to develop and deliver zero emission electric vehicles to the world than any other person, company, or nation. He has also single handily resuscitated NASA, no small accomplishment. So rather than bashing Mr. Musk as you do, you might consider giving him credit for what he has accomplished!
Michael, you have missed the point, and your facts, as usual, are not correct. Do yourself a favor and stop reading all the MAGAt misinformation.