The billionaires of United States have seen their joint wealth increase by more than $ 1 trillion since the inception of the coronavirus pandemicaccording to a study released Wednesday, which fueled a debate over higher taxes for the wealthy.
The collective wealth of 651 billionaires in United States skyrocketed from 2.95 trillion on March 18 to 4.01 trillion last Mondaysaid the Institute for American and Political Studies for Fiscal Equity (ATF).
“Never before United States I’ve seen such accumulation of wealth in so few hands, “said Frank Clemente, the institute’s executive director, noting that the gain exceeds an aid package that is being considered by Congress.
“Their pandemic profits are so huge that the billionaires of United States They could pay a hefty COVID relief bill and still not lose a penny of their pre-virus wealth“he added.
On Tuesday, the White House released a $ 916 billion stimulus proposal in a race to end a months-long stalemate on new aid for the coronavirus-stricken US economy before the president Donald Trump I left office in January.
The new proposal is slightly larger than a $ 908 billion pledge presented by a bipartisan group of senators last week.
Could pay bonuses for all Americans
The study authors say the $ 1 trillion increase in wealth could pay stimulus checks of $ 3,000 for all over 300 million Americans.
The study adds to the already heated debate in United States about taxing the rich more to reduce growing wealth inequalities.
For example, Alexandria Ocasio-Cortez, a rising star in the left wing of the Democratic Party, is pushing for higher taxes in New York, which like many states faces a budget crisis caused by the pandemic.
A study published by UBS bank and accounting firm PwC in October found that the accumulated wealth of the world’s billionaires in dollars reached a new record 10.2 trillion, up from the previous peak of 8.9 trillion recorded in 2017.
The pandemic triggered a stock market crash in March, which saw some of the billionaires’ club tumble, before a sharp rally in tech and healthcare stocks boosted the wealthiest in those sectors.
(With information from AFP)
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