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American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic

 
Anonymous Coward
User ID: 78861367
United Kingdom
05/01/2020 08:07 AM
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American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Nothing to see here.

"Though the coronavirus itself may not discriminate in terms of who can be infected, the COVID-19 pandemic is far from a great equalizer. In the same month that 22 million Americans lost their jobs, the American billionaire class’s total wealth increased about 10%—or $282 billion more than it was at the beginning of March. They now have a combined net worth of $3.229 trillion."

[link to www.fastcompany.com (secure)]
Malu nli

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05/01/2020 08:09 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Stories like this lead to revolts and lots of dead rich people




Post all you want
Anonymous Coward
User ID: 78687938
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05/01/2020 08:09 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Nothing to see here.

"Though the coronavirus itself may not discriminate in terms of who can be infected, the COVID-19 pandemic is far from a great equalizer. In the same month that 22 million Americans lost their jobs, the American billionaire class’s total wealth increased about 10%—or $282 billion more than it was at the beginning of March. They now have a combined net worth of $3.229 trillion."

[link to www.fastcompany.com (secure)]
 Quoting: Anonymous Coward 78861367
And the NWO is born..
Anonymous Coward (OP)
User ID: 78861367
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05/01/2020 08:11 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Stories like this lead to revolts and lots of dead rich people




Post all you want
 Quoting: Malu nli


Revolts only happen when the rich want them to happen.

Wrong?
Anonymous Coward
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Canada
05/01/2020 08:25 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Thread: Most people want billionaires to pitch in to aid poverty and inequality
Lady Jayne SmithModerator
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05/01/2020 08:41 AM

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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
That increase in net worth likely came from things like precious metal holdings.
Fate whispers to the warrior

"You cannot withstand the storm"

and the warrior whispers back

"I am the storm"

INTJ

Killer Bunny
Anonymous Coward (OP)
User ID: 78861367
United Kingdom
05/01/2020 08:51 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
That increase in net worth likely came from things like precious metal holdings.
 Quoting: Lady Jayne Smith


Article doesn't breakdown the increase. Suggests it's part of tax break trend.

"In the background is the fact that since 1980, the taxes paid by billionaires, measured as a percentage of their wealth, dropped 79%.

“We’re reading about benevolent billionaires sharing .0001% of their wealth with their fellow humans in this crisis, but in fact they’ve been rigging the tax rules to reduce their taxes for decades."
Anonymous Coward
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United Kingdom
05/01/2020 09:35 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
That increase in net worth likely came from things like precious metal holdings.
 Quoting: Lady Jayne Smith


Article doesn't breakdown the increase. Suggests it's part of tax break trend.

"In the background is the fact that since 1980, the taxes paid by billionaires, measured as a percentage of their wealth, dropped 79%.

“We’re reading about benevolent billionaires sharing .0001% of their wealth with their fellow humans in this crisis, but in fact they’ve been rigging the tax rules to reduce their taxes for decades."
 Quoting: Anonymous Coward 78861367


Yes - and for the next few years it is going to be middle and working class that pull the economy up with their taxes and hard work. Even more so if conservatives stay in power.
Anonymous Coward
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05/01/2020 09:42 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Anonymous Coward
User ID: 78691748
United Kingdom
05/01/2020 09:56 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Can't wait for it to trickle down.
Anonymous Coward
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05/01/2020 10:06 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Needs more details to see how they "calculated" it and when they started counting. If you started with $100k in their account and it dropped to $60k, then came back to $90k, did you get $30k richer?
Anonymous Coward
User ID: 78770237
Romania
05/01/2020 10:09 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Those of us invested in good, solid cryptocurrencies like Dash are also sitting on double digit percentage gains since covid came out. Its nice having your finances not depending on anyone or any Caucasians for that matter. Shutdown? What shutdown? lmao
Anonymous Coward
User ID: 77752543
United Kingdom
05/01/2020 10:10 AM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Nothing to see here.

"Though the coronavirus itself may not discriminate in terms of who can be infected, the COVID-19 pandemic is far from a great equalizer. In the same month that 22 million Americans lost their jobs, the American billionaire class’s total wealth increased about 10%—or $282 billion more than it was at the beginning of March. They now have a combined net worth of $3.229 trillion."

[link to www.fastcompany.com (secure)]
 Quoting: Anonymous Coward 78861367


I had to make them richer, so I can now steal it all and give it to those that need it.

Don't you even Robin hood bro?
Lady Jayne SmithModerator
Forum Administrator

05/01/2020 10:12 AM

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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
That increase in net worth likely came from things like precious metal holdings.
 Quoting: Lady Jayne Smith


Article doesn't breakdown the increase. Suggests it's part of tax break trend.

"In the background is the fact that since 1980, the taxes paid by billionaires, measured as a percentage of their wealth, dropped 79%.

“We’re reading about benevolent billionaires sharing .0001% of their wealth with their fellow humans in this crisis, but in fact they’ve been rigging the tax rules to reduce their taxes for decades."
 Quoting: Anonymous Coward 78861367


Most billionaires do not have earned income. They live off capital gains.

The tax "breaks" on earned income did go to the mid-middle class & lower, not the upper middle class & lower upper class who saw tax increases. The cuts really did not impact the billionaires at all, one way or the other. Many billionaires hold a lot of tax free municipals -- when cities start to go belly up, and default, that is when the net worth of some billionaires will be impacted.

Those tax free munis are a BIG way the uber wealthy have gotten around taxes for a VERY long time.
Fate whispers to the warrior

"You cannot withstand the storm"

and the warrior whispers back

"I am the storm"

INTJ

Killer Bunny
Anonymous Coward
User ID: 77325895
Canada
05/01/2020 12:15 PM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
Lost 1/8 of my investments. Threw the playbook out and now growing as much weed I can
Anonymous Coward
User ID: 78863343
United Kingdom
05/01/2020 12:18 PM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
280 billion more miles to find theirs soul.
Anonymous Coward
User ID: 78858021
United Kingdom
05/01/2020 12:20 PM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
This is why i'm not a capitalist cuck. System is broken and corrupt and there's too much greed. We're now ruled by these international capitalist.

Stop buying shit.
Jake

User ID: 77849624
United States
05/01/2020 12:20 PM
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Re: American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic
That will triple when the economy starts to boom again





GLP