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Billionaires

Billionaire Taxes Decreased By 79% Since 1980

April 16, 2020 Bob Lord and Chuck Collins, Inequality.org. , , ,
Conventional economic wisdom says a time of crisis is not the moment to enact tax increases. But, as Eric Toder at the Tax Policy Center recently pointed out: “[Tax experts] can begin to think of the time after the pandemic passes and how government should respond to massive increases in the public debt, and the new tax increases that Congress will need to enact to fund them.” Initial tax increases should hold harmless working- and middle-class families who will be the most economically vulnerable coming out the pandemic. The first several trillion in new revenue should come from America’s wealthiest households, those who have seen their taxes slashed over past decades. At the top of the list of new tax increases should be a wealth tax on our billionaire class.

How The Rich And Powerful Put Their Wealth Above Public Health

April 7, 2020 Gin Armstrong, Eyes On The Ties. , , ,
While millions are facing health and financial uncertainty and unemployment rolls are reaching record levels due to the novel coronavirus pandemic, a small group of wealthy elites are thriving. Not only do the rich and powerful seem to have access to otherwise near-impossible to obtain COVID-19 testing and enjoy better access to healthcare, they are also self-isolating at swanky vacation estates in the Hamptons, the Catskills, and Sun Valle – or, like billionaire David Geffen, on lavish private yachts. All the while these billionaires and multi-millionaires are figuring out ways to maintain their wealth and even profit at the expense of everyone else who is struggling to stay afloat. Indeed, as J.C. Pan wrote for The New Republic: “The malfeasance of the ruling class has reached such a level of absurdity that it almost feels as if they’re trying to summon a mob.”
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