US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul
US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul
Billionaires now control 1 out of every 25 dollars of American wealth.
Billionaires now control 1 out of every 25 dollars of American wealth.
Over the past years in the U.S., everyday Americans have been increasingly crushedunder greed-driven inflation and debt, with homelessness hitting record highs. But as this modern affordability crisis has rocked households across the country, billionaire wealth has skyrocketed — and has now hit an all-time high, a new analysis reveals.
As of this month, the U.S.’s 806 billionaires are worth a collective $5.8 trillion, meaning that they control 1 in every 25 dollars of American wealth, according to an Americans for Tax Fairness report released Monday.
Due in part to the 2017 tax overhaul by Republicans, led by Donald Trump, this small group has seen an explosion of wealth in an extremely short amount of time.
Since the 2017 Tax Cuts and Jobs Act, U.S. billionaire wealth has doubled, from an already staggering $2.9 trillion. In 2017, none of the richest Americans were centi-billionaires, meaning that they did not have over $100 billion; now, the top 10 U.S. billionaires are all centi-billionaires, according to the report.
You're viewing a single thread.
Sky high rent, insane greedflation food prices? Looks like we are headed for even more of the same come November, in orange spades this time.
You may have missed the SOTU when Biden addressed these concerns.
Harsh words and no teeth to anything. He calls them out, but has no way to do anything about it.
All there are so far are announcements, meanwhile we still have high inflation, corporate greed, layoffs, and no real pain or repercussions for the wealthy. They still just pass on any penalties to consumers and workers. This is all a dog and pony show, it's bullshit.
This is the action, posed two days later.