The COVID-19 epidemic has reduced the wealth of many families around the world, but a recent study shows that since the outbreak, the wealth of American billionaires has soared by more than 1 trillion U.S. dollars. It has sparked yet another discussion in the United States about raising taxes for the rich.
According to the AFP report, the Institute for Policy Studies and Americans for Tax Fairness (ATF) stated that the total wealth of 651 billionaires in the United States was 2.95 trillion on March 18. The US dollar increased to 4.01 trillion US dollars on the 7th of this month, an increase of more than 1 trillion US dollars.
Frank Clemente, the managing director of the ATF, said that there has never been such a small number of people in the United States that have accumulated so much wealth, and revealed that this gain has exceeded a rescue plan being considered by the US Congress.
Clement said: “The wealth they have increased during the epidemic is so huge, these American billionaires can completely come up with the bailout money, not even spending a dime they made before the pandemic.”
The White House only proposed a $916 billion revitalization plan on the 8th. It is a new plan for revitalizing the US economy by US President Trump before he resigns in January next year. It hopes to break the month-long deadlock inCongress. This is slightly higher than the $908 billion plan proposed by the two parties in the Senate last week.
And this study points out that the $1 trillion in wealth added by billionaires is enough to provide about 300 million Americans with a bailout of $3,000 per person. The gap between the rich and the poor is increasing and the pandemic has done nothing to buck the trend.