(Era of Light)
America’s billionaires saw their combined net worth soar by $434 billion between March 18 and May 19 while the coronavirus pandemic killed tens of thousands of people and ravaged the U.S. economy, forcing more than 30 million out of work.
That’s according to a new analysis released Thursday by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) titled “Tale of Two Crises: Billionaires Gain as Workers Feel Pandemic Pain.” ⇲
Read more via Richest Americans Have Added $434 Billion To Their Wealth Since Crisis Hit — Era of Light
(Humans Are Free) America’s Billionaires Have Accrued More Wealth in the Past Three Weeks Alone than They Made in Total Prior to 1980.
A new report from the Institute for Policy Studies found that, while tens of millions of Americans have lost their jobs during the coronavirus pandemic, America’s ultra-wealthy elite have seen their net worth surge by $282 billion in just 23 days. This is despite the fact that the economy is expected to contract by 40 percent this quarter.
The report also noted that between 1980 and 2020 the tax obligations of America’s billionaires, measured as a percentage of their wealth, decreased by 79 percent. →
Read more via Humans Are Free