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US News Rich Americans get richer during the pandemic

13:50  13 october  2020
13:50  13 october  2020 Source:   challenges.fr

The ultra-rich got richer despite the crisis

 The ultra-rich got richer despite the crisis The Corona crisis has made the super-rich around the world even richer. The total assets of the more than 2,000 dollar billionaires worldwide rose to a record level of around 10.2 trillion dollars (8.7 trillion euros) by the end of July, thanks in part to the recovery in the stock markets. © Bernd von Jutrczenka / dpa / Archive In 2013 there was an exhibition on the subject of wealth in the German Hygiene Museum in Dresden.

America 's billionaires saw their fortunes soar by 4 billion during the U.S. lockdown between mid-March and mid-May, according to a new report. The billionaire gains highlight how the coronavirus pandemic has rewarded the largest and most tech-focused companies, even as the economy and

The pandemic led to the creation of a new underclass of workers. These are the overlooked folks who stock shelves at Amazon, shop for our food in supermarkets, deliver packages, drive Ubers, take care of elderly residents at nursing homes and engage in an array of other gig-economy and lower-wage

riches américains © Erik Pendzich / Sipa Rich Americans CAMPAIGN JOURNAL # 16 - Their cumulative wealth has increased 28% since March, as millions of Americans have lost their jobs and no longer manage to make ends meet. For the wealthiest Americans, this is a serious problem in the midst of an election campaign.

The numbers, frankly, are breathtaking ... or nauseating, depending on his political orientation. Since March 18, the official start of the pandemic in the United States, the cumulative fortune of American billionaires has increased by $ 850 billion, an increase of 28%, according to the Institute for Policy Studies , a thinker tank. And for some, the progress has been meteoric: Elon Musk has seen his fortune triple since the start of the year, from $ 27 billion to $ 90 billion, and Jeff Bezos' wealth has swelled by $ 72 billion.

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billion during the pandemic —after being down for a bit during the early days of the outbreak and the stock In addition to the billionaires, the rich are getting richer too. The multi-trillion dollar stimulus plan While Americans are scraping over buying toilet paper and necessities, homeschooling their

A widely shared article maintains that wealthy Americans became 2 billion richer in the early weeks Fact check: The super rich did indeed get richer in early weeks of coronavirus pandemic . The claim: America ’s super- rich have seen their wealth rise by 2 billion in three weeks of the

Anand Giridharadas, author of a critical essay on the super-rich ("Winners Take All"), had fun calculating what would happen if Jeff Bezos, seized by a delirium of generosity as sudden as it was improbable , gave $ 105,000 to each of its 876,000 employees: it would be exactly as rich as at the beginning of 2020!

Grotesque distortions

Analysts were a little surprised by this surge in profits. After the 2008-2009 crisis, it took two and a half years for the richest to see their wealth return to the level of 2007. In total, during the decade 2000-2010, billionaires had lost 6% of their fortune. They largely caught up during the following decade, with a jump of 85%. Little taxed, sitting on huge treasuries and heavily invested in hi-tech, they were well positioned to ride the pandemic. While 55 million Americans lost their jobs, America saw the birth of 29 new dollar billionaires.

Twitter is forced by American justice to reveal the identity of a conspiratorial account

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We can continue to allow the very rich to get much richer while most everyone else gets poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and wellbeing of tens of millions of Americans . The time has come for the Congress to act on behalf of

The billionaire gains highlight how the coronavirus pandemic has rewarded the largest and most tech-focused companies, even as the economy and Elon Musk had among the largest percentage gain of billionaires during the two months, seeing his net worth jump by 48% in the two months to billion.

In normal times, such a rapid increase would already be controversial, after years of historic widening of inequalities; in times of deep crisis, it becomes a major political problem for the billionaire elite. It comes at the worst time, when Joe Biden already designated the rich, in his program, as having to pay the vast majority of the tax increases he plans.

Given the ludicrous nature of these distortions, Biden will have little trouble, if elected, to push through these tax hikes. In the emergency, it could even go faster and further, by subjecting those that some already call the "profiteers of the pandemic" to a special tax, similar to the "tax on excessive profits" in times of war, introduced in the United States during the two world wars. These taxes were popular: it was by running a "Truman commission" on war profits that an obscure senator from Missouri, Harry Truman, became famous.

Americans have less and less trust in Trump's corona crisis management

 Americans have less and less trust in Trump's corona crisis management Washington (Reuters) - Americans are increasingly losing trust in US President Donald Trump's corona crisis management. © Reuters / ERIN SCOTT FILE PHOTO: U.S.

Bezos has profited the most during the pandemic , with Amazon Prime's two-day shipping being largely popular among people who are staying home during state Get fox business on the go by clicking here. More than 3.8 million Americans filed for unemployment last week, the Labor

Jeff Bezos is the richest person in the world. At least eight of these billionaires have added another billion to their wealth during the pandemic . In short, while the majority of Americans lurch toward a recession worse than the crash of a decade ago, a tiny number of billionaires is set to make out like

Political target

For Donald Trump, these figures come at the worst time: his 2017 tax reform had massively benefited the richest, and the New York Times recently revealed that he himself had the annoying habit of not paying taxes. federal tax. When it comes to the super-rich, some, like Jeff Bezos, can argue that their businesses have done a lot to help Americans weather the crisis in their daily lives. Others highlight their generosity: around the world, 209 billionaires have publicly pledged to give more than $ 7 billion to fight the pandemic or mitigate its socio-economic consequences, according to a UBS report.

No matter what, one is tempted to say: the richest Americans are profiting massively from the most serious crisis that their country has gone through for nearly a century. Politically, they risk paying a heavy price for it.

Insurance offers pandemic protection .
Now that many companies, shops, bars and restaurants have had to temporarily cease operations due to the corona virus, the question is whether the loss of income can be reimbursed. And who would have thought: You can actually insure yourself against pandemics. © Provided by Finanz.net ASIF HASSAN / AFP / Getty Images Hardly any pandemic insurances were taken out before Corona, now it is too late From water damage and fires to break-ins and illness to accidents, the insurances take hold and cove

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