American billionaires have gotten $280 billion richer since the start of the COVID-19 pandemic | |
Malu nli
User ID: 78739435 United States 05/01/2020 08:09 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78687938 Netherlands 05/01/2020 08:09 AM Report Abusive Post Report Copyright Violation | Nothing to see here. Quoting: Anonymous Coward 78861367 "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)] |
Anonymous Coward (OP) User ID: 78861367 Sweden 05/01/2020 08:11 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73848670 Canada 05/01/2020 08:25 AM Report Abusive Post Report Copyright Violation | |
Lady Jayne Smith
Forum Administrator 05/01/2020 08:41 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 78861367 Sweden 05/01/2020 08:51 AM Report Abusive Post Report Copyright Violation | 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 User ID: 78731572 United Kingdom 05/01/2020 09:35 AM Report Abusive Post Report Copyright Violation | 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." 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 User ID: 70353425 United States 05/01/2020 09:42 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78691748 United Kingdom 05/01/2020 09:56 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 53199845 United States 05/01/2020 10:06 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78770237 United States 05/01/2020 10:09 AM Report Abusive Post Report Copyright Violation | 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? |
Anonymous Coward User ID: 77752543 United Kingdom 05/01/2020 10:10 AM Report Abusive Post Report Copyright Violation | Nothing to see here. Quoting: Anonymous Coward 78861367 "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)] 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 Smith
Forum Administrator 05/01/2020 10:12 AM Report Abusive Post Report Copyright Violation | 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." 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" the warrior whispers back "I am the storm" INTJ-A |
Anonymous Coward User ID: 77325895 Canada 05/01/2020 12:15 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78863343 United Kingdom 05/01/2020 12:18 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78858021 United Kingdom 05/01/2020 12:20 PM Report Abusive Post Report Copyright Violation | |
Jake
User ID: 77849624 United States 05/01/2020 12:20 PM Report Abusive Post Report Copyright Violation | That will triple when the economy starts to boom again Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance! Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes." |