As the deadline for Americans to file federal income tax returns fast approaches, Oxfam America on Friday renewed calls for taxing the ultrarich while publishing an analysis showing America’s growing number of billionaires saw their wealth increase by nearly one-third since the start of the Covid-19 pandemic and by nearly 90% over the past decade.
“Wealth inequality in the U.S. is more extreme and dangerous than income inequality; and we need to change our approach, so we effectively tax wealth as well as income,” the charity said in an introduction to the report, Tax Wealth, Tackle Inequality.
Based on Forbes data, the report found that “U.S. billionaires are almost a third richer (over a trillion dollars, in real terms) than they were at the onset of the pandemic in 2020,” while overall U.S. billionaire wealth has soared 86% since 2013.
The number of U.S. billionaires—of which there are now more than 700—is also nearly 60% higher than it was a decade ago, according to the analysis.
As the report notes:
“At the same time, […]
I am stuck on Social Security and am a PEASANT because it does not pay enough to thrive on.
P.S.: I believe that people on Social Security, especially permanently disabled people like me should get the same pay as any Representative or Senator in the government. We require what they get as much as they do or even more so. They are all just humans and are not disabled and have other sources of income to supplement what they get in their jobs, Humans are all equal in their needs!
According to Biden there are over 1,000 billionaires now in the USA…
I know what you are referring to, Janis. No one could possibly NEED a Billion dollars. It would take me at least 4,000 lifetimes to make one billion dollars in my jobs I used to have working as a computer programmer in high-tech firms. No one NEEDS that kind of money. What we need is another FDR president to straighten things out!