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March 2, 2021
© Photo: Flickr/dmbosstone
By Chuck COLLINS
February 24, 2021 Update: US Billionaire Wealth Grows $1.3 trillion Since Mid-March 2020.
As the US crosses the threshold of half a million deaths from the Covid pandemic, the nation’s billionaires continue to reap extraordinary financial gains. After 11 months of pandemic misery, where millions have lost their jobs, health and wealth, total US billionaire wealth increased $1.3 trillion since mid-March, 2020, an increase of 44 percent.
As of the market close on Friday, February 19, the country’s 664 billionaires now have combined wealth of $4.3 trillion, up from just under $3 trillion on March 18, 2020. These findings based on Forbes data compiled in this report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). [See table of top 15 billionaires at the end.]
March 01, 2021
NEW ANALYSIS: The Ultra-Millionaire Tax would bring in at least $3 trillion in revenue over 10 years – without raising taxes on the 99.95% of American households that have net worth below $50 million
Letters on Constitutionality here and here (PDF)
Washington, DC – United States Senator Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, Representative Pramila Jayapal (D-WA-07), a member of the House Budget Committee, and Representative Brendan Boyle (D-PA-02), a member of the House Ways and Means Committee today unveiled the Ultra-Millionaire Tax Act.
The Ultra-Millionaire Tax Act would level the playing field and narrow the racial wealth gap by asking the wealthiest 100,000 households in America, or the top 0.05%, to pay their fair share. The Ultra-Millionaire Tax would bring in at least $3 trillion in revenue over 10 years – without raising taxes on the 99.95% of American households that have net worth below $50 million – according to