The United States Is Being Robbed
While the world panicked and took extraordinary measures to protect one another, the ultra-rich robbed U.S. taxpayers
Since the start of the pandemic, U.S. billionaires have increased their collective fortunes by more than 70% in just 19 months. From a combined worth of $3 trillion in March of 2020 to an astonishing $5 trillion in October 2021, according to Americans for Tax Fairness (ATF) and the Institute for Policy Studies Program on Inequality (IPS) who analyzed data from Forbes. The Federal Reserve Board also estimates the current wealth held by U.S. billionaires to be two-thirds more than the $3 trillion in wealth held by the bottom 50% of U.S. households.
At the other end of the spectrum lies poverty which many relentlessly remind us has been cut in half — a statement that will only hold true if the economic benefits during the pandemic are made permanent. Various studies using a diversity of processes concur that poverty reduction during the coronavirus was temporary. The United States began to see increases in poverty higher than pre-pandemic numbers almost immediately after benefits were distributed, according to a number of surveys.
