America’s 806 Billionaires Are Now Richer Than Half the Population Combined—a Lot Richer
Apr 12, 2024 ·
8m 27s
The wealth of America's 806 billionaires has surged to a record $5.8 trillion, eclipsing the combined wealth of the poorer half of the population. Bolstered considerably by tax reforms initiated...
show more
The wealth of America's 806 billionaires has surged to a record $5.8 trillion, eclipsing the combined wealth of the poorer half of the population. Bolstered considerably by tax reforms initiated during Donald Trump's presidency, their collective wealth has seen a 57 percent increase after adjustments for inflation. These financial gains have largely been achieved through mechanisms that favor the ultra-wealthy, including substantial tax cuts and the ability to avoid income tax on unrealized earnings. This disparity has fueled further debate on the equity of the U.S. tax system and the growing wealth gap, with future tax policy changes poised to spark significant political battles.
show less
Information
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
