Billionaires are getting even richer from the pandemic. Enough is enough (opinion)
CNNEditor’s Note: Chuck Collins directs the Program on Inequality at the Institute for Policy Studies. Yet as my colleagues and I track in a new report for the Institute for Policy Studies, the wealth of America’s billionaires actually increased by nearly 10% over just three weeks as the COVID-19 crisis took hold. Extreme wealth inequality, in short, is America’s “preexisting condition.” And unless we act intentionally — with ambitious public policies aimed at reversing inequality — the pandemic recovery will supercharge our existing inequalities of income, wealth and opportunity. By contrast, my colleagues and I found that the Forbes 400 — the wealthiest 400 billionaires in the United States — had fully recovered their wealth within three years. Complicating matters, billionaires’ extraordinary wealth gives them extraordinary influence over the political process, which they’ve used to slash their tax bills astoundingly over the last few decades.
History of this topic
Here's how much richer the world's wealthiest men are after Trump's victory
Raw Story
Wealth of the top 1% in U.S. hits all-time high of $45 trillion
Raw Story
Billionaires Today $3.3 Billion Richer Than They Were in 2020, Richest Five Men Doubled Fortune
News 18
Five richest men doubled fortunes after 2020, Oxfam says as Davos opens
Al JazeeraA surge in wealth has boosted most US households since 2020 and helped sustain economic growth
Associated Press
Only richest 20% of Americans still have excess pandemic savings
LA Times
New billionaire was created every 30 hours during the pandemic
The Independent
Tax on America’s wealthiest households could erase half of country’s out-of-pocket health costs, report finds
The IndependentOxfam report says over 16 crore more people forced into poverty in two years of pandemic
The Hindu
Oxfam: Wealth of world’s 10 richest men doubled during pandemic
NL Times
Biden’s billionaire levies must not cue bad ideas
Live Mint
American billionaires added $2 trillion to their wealth during pandemic
The Independent
Millions more become millionaires during pandemic as property prices soar
The Independent
5.2m new millionaires created in 2020 despite economic turmoil during pandemic
The Independent
American billionaires made $1.3 trillion during Covid pandemic
The IndependentOxfam report says rich getting richer and poor getting poorer amid coronavirus pandemic
ABC
The pandemic is making the wealth divide in housing worse
CNN
No trickle-down: Tax cuts for rich fuel inequality, study finds
Al Jazeera
Soaring wealth during pandemic highlights rising inequality
Associated Press
US billionaires have regained $565 billion in wealth since the pit of the crisis
CNN
The richest billionaires became vastly richer during pandemic, even as stocks tumbled
Salon
400 Richest Americans Own More Than 150 Million Of The Nation's Poorest: Study
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