'Each made about the same in a single minute as the average American household earns in an entire year. This can't continue,' said 4TaxFairness.
"Each made about the same in a single minute as the average American household earns in an entire year. This can't continue," said Americans for Tax Fairness.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 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.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.
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