Thread by @StuartDNeilson

"The total net worth of 651 US billionaires rose from $2.95 trillion on March 18 — the start of the pandemic shutdowns — to $4.01 trillion on Dec. 7, a leap of 36%, according to Americans for Tax Fairness (ATF) & the Institute for Policy Studies (IPS)"
americansfortaxfairness.org/wp-content/upl…

The $1 trillion wealth gain by 651 U.S. billionaires since mid-March is more than it would cost to send a stimulus check of $3,000 to every one of the roughly 330 million people in America.

The $1 trillion wealth gain by 651 U.S. billionaires since mid-March is double the two-year estimated budget gap of all state and local governments, which is forecast to be at least $500 billion.

The $1 trillion wealth gain by 651 U.S. billionaires since mid-March is slightly less than total federal spending on Medicare ($644 billion in 2019) & Medicaid ($389 billion in FY2019), which together serve 120 million Americans.

The $1 trillion wealth gain by 651 U.S. billionaires since mid-March is nearly four times the $267 billion total in stimulus payments made to 159 million people earlier this year.

“Billionaires are extracting wealth at a time when essential workers are pushed into the viral line of fire.”

The disparity is especially stark between oweners and employees of Amazon, Tesla, Walmart & Nike.

“Extreme poverty is rising for the first time in a decade and hundreds of millions of people face dire hardship; in many cases failing into debt, skipping meals and being forced into destitution. Governments need to stop pandering to the richest.”
theguardian.com/technology/202…