This is an excerpt from a longer article. The article is much more than a report on the effects of the pandemic as seen from its impact on wealth in America. It makes it clear that the system that created and maintains this level of wealth inequity must be abandoned and those that administered it should be “quarantined” from interaction with and influence on the "bottom half of the population,”
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Opinion - $1 trillion wealth gain by 651 U.S. billionaires since mid-March
(Highlight, right click & open hyper link to read the whole article)
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$1 trillion wealth gain by 651 U.S. billionaires since mid-March
At $4 trillion the total wealth of all U.S. billionaires today is nearly double the $2.1 trillion in total wealth held by the bottom half of the population, or 165 million Americans.
“Never before has America seen such an accumulation of wealth in so few hands,” said Frank Clemente, executive director of Americans for Tax Fairness. “As tens of millions of Americans suffer from the health and economic ravages of this pandemic, a few hundred billionaires add to their massive fortunes. Their pandemic profits are so immense that America’s billionaires could pay for a major COVID relief bill and still not lose a dime of their pre-virus riches. Their wealth growth is so great that they alone could provide a $3,000 stimulus payment to every man, woman and child in the country, and still be richer than they were 9 months ago. Joe Biden won a tax-fairness mandate in November. We look forward to working with him and Congress to deliver on that mandate by taxing the massive wealth of these billionaires.”
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People’s Advocates or Loyal Opposition?