US pandemic has allowed the wealthy to receive over $ 40 billion weekly: unemployment breaks records
According to the latest analysis by Americans for Tax Fairness and the Institute for Policy Studies - Inequality Program (IPS), the American minority, billionaires, continued to enrich themselves regardless of the pandemic.
Despite nearly 10 percent of the unemployed in the United States, a small group of people posted profits in excess of $ 700 billion during the pandemic.
“The total wealth of American billionaires has grown by nearly a quarter, from just under $3 trillion to $3.66 trillion since the pandemic lockdown began,” reports Americans for Tax Fairness. “Over those same 17 weeks (March 18-July 16), nearly 140,000 Americans died from COVID-19 and more than 50 million workers lost their jobs. Of those, 32 million are currently unemployed.”
Looking at how fragile the social security system is collapsing, along with the US economy and law enforcement system, people like Jeff Bezos and Mark Zuckerberg have increased their wealth by 58 percent and 62 percent, respectively.
“There couldn’t be a stronger argument for some form of a wealth tax than the obscene pandemic profits of billionaires,” said ATF’s Frank Clemente. “Our tax system must begin to adequately tax wealth and the income that comes from wealth to raise the revenue we need to build a stronger and more just society.”
Image: Pictures of Money / Flickr