RICHCRAFT: $1 Billion a Day - That’s How Much Top 10 U.S. Billionaires Added to Their Fortunes During COVID Plandemic

From [CHD] The 10 wealthiest billionaires in the U.S. have added roughly $1 billion to their collective fortune every day — or around $12,600 per second — since the beginning of the coronavirus pandemic, which has killed millions of people across the globe and thrown countless lives into chaos.

The billionaire wealth update comes courtesy of the progressive advocacy group Americans for Tax Fairness (ATF), which released an analysis Wednesday estimating that the combined net worth of the 10 richest people in the U.S. has more than doubled since March 2020, reaching $1.35 trillion this week.

“The pandemic has been very good to American billionaires, especially the top 10,” said ATF executive director Frank Clemente, who noted that billionaires’ pandemic profits will likely not be taxed because they consist largely of unrealized capital gains.

Sen. Ron Wyden’s (D-Ore.) proposal to subject the unrealized capital gains of the mega-wealthy to taxation has gone nowhere in Congress.

“Their obscene rise in wealth — all of it potentially untaxed — stands in stark contrast to the lot of America’s working families, who’ve struggled through almost two years of a health crisis and economic uncertainty including most recently, rising prices,” Clemente said. “Chairman Wyden’s Billionaires Income Tax would better align the fortunes of America’s richest of the rich with the needs of average Americans.” [MORE]