Some people have made out like bandits during the pandemic.
The total wealth of US billionaires rose $1.3 trillion amid the pandemic, the ATF and IPS said.
This could fund two-thirds of Biden’s $1.9 trillion COVID-19 rescue plan.
American billionaires have earned so much money during the pandemic that they could fund two-thirds of President Joe Biden’s COVID-19 relief package using profits generated in the last year, a report shows.
The combined fortune of American billionaires rose around $1.3 trillion, or 44%, from March 2020 to March 2021, Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) said.
This increase is equivalent to two-thirds of the $1.9 trillion cost of Biden’s pandemic rescue plan, which he signed into law Thursday.
657 billionaires were worth a combined $4.2 trillion, the ATF and IPS said. Under current tax laws, none of this would be taxed during their lifetimes, unless the underlying assets are sold at a gain, they said.
Time for this obscenity to change!
Children go hungry…..people lose their homes…..no jobs….and yet these societal parasites roll in dough.
Somebody needs to a grow a pair and step up and demand these ‘people’ start paying for the privilege of being part of the American society.
I do not care how much money they make or steal or whatever….all I want is for them to pay their fair share like the rest of us mere peasants.
A fair and equitable tax code would be a good start.
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