Billionaires Pandemic Profits Alone Could Cover 70% of Biden s American Jobs Plan
On 4/15/21 at 6:00 AM EDT
The profits earned by American billionaires during the coronavirus pandemic alone could cover the bulk of President Joe Biden s $2.25 trillion American Jobs Plan, according to a new analysis.
Americans for Tax Fairness and the Institute for Policy Studies released on Thursday a new report that shows billionaires in the U.S. increased their collective net worths by some $1.62 trillion between March 18, 2020, and April 12. Before last March, billionaires combined net worth stood at $2.95 trillion, whereas it has now risen to $4.56 trillion. The analysis, which drew on data compiled by
John Locher/AP and Odd Andersen/AFP via Getty Images
According to Forbes, six Americans are worth more than $100 billion, making them centibillionaires.
Their combined fortune of $815 billion is just over the collective GDP of the US 13 poorest states.
Amazon CEO Jeff Bezos is worth nearly $200 billion, beating the 2020 GDP of Utah.
America s richest keep getting richer.
The six richest Americans are worth more than the GDP of 13 states combined, including Delaware, Maine, and Vermont, according to data from Forbes and the US Department of Commerce.
The publication s rich list contains six centibillionaires people worth at least $100 billion each.
In a new report, the Institute for Policy Studies (IPS) and Americans for Tax Fairness (ATF) said this meant that individually, each of the centibillionaires had a net worth bigger than the GDP of each of the 13 poorest US states.
Tesla CEO Elon Musk and Amazon CEO Jeff Bezos.
According to Forbes, six Americans are worth more than $100 billion, making them centibillionaires.
Their combined fortune of $815 billion is just over the collective GDP of the US’ 13 poorest states.
Amazon CEO Jeff Bezos is worth nearly $200 billion, beating the 2020 GDP of Utah.
America’s richest keep getting richer.
The six richest Americans are worth more than the GDP of 13 states combined, including Delaware, Maine, and Vermont, according to data from Forbes and the US Department of Commerce.
The publication’s rich list contains six “centibillionaires” – people worth at least $100 billion each.
We Need to Tax the Rich : Global Billionaires Have Grown $4 Trillion Wealthier During Pandemic vestnikkavkaza.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vestnikkavkaza.net Daily Mail and Mail on Sunday newspapers.
IMF calls for taxing world’s richest to
curb inequality, stave off social unrest
f governments don’t close the gap between society’s richest and poorest members which was growing before and has exploded during the coronavirus crisis by raising wages for low-income workers, taxing wealthy households, and using the increased revenue to improve social welfare, they should expect diminished trust in government and increased social polarization and unrest.
That warning comes in a new report on the intensification of inequality released Thursday by the International Monetary Fund (IMF), a Washington D.C.-based international financial institution whose lending policies prior to and even during the Covid-19 pandemic have heightened vulnerability to crises by imposing public expenditure cuts in developing countries.