Pandemic - New Gold Rush for Billionaires
December 10, 2020
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5:53Now PlayingPandemic - New Gold Rush for Billionaires
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as posted by the channelMaybe you missed what Billionaires like Jeff Bezos, Mark Zuckerberg, and Elon Musk were doing while, while 118 million Americans were suffering job losses, pay cuts and an economic crunch from corona. That tiny sliver of America's super-super-rich Billionaires were fattening their already phenomenal wealth - thanks to the pandemic.
It's as if we Americans live on two different planets. On one planet, 80 million Americans report lacking enough money to pay the rent and put food on the table, and on the other planet, 650 US Billionaires hauled in windfall profits of $1 TRILLION - yes, read it again, $1 TRILLION in 2020.
They rode the skyrocketing stock market, led by the FAANG group - Facebook, Amazon, Apple, Netflix, Google and other tech companies which profited astronomically from our hunger and almost total dependence on the web, the tube, social media and on-line shopping in 2020.
Amazon CEO Jeff Bezos, now the world's richest person, made $13 billion in just one day on the stock market and has rocketed up to a total worth of $200 billion. Elon Musk of Tesla electric car fame jumped his fortune from $25 Billion to $123 Billion. Mark Zuckerberg's stake in Facebook nearly doubled, from $55 Billion to $101 Billion. And so on down the list of 650 Billionaires.
So Sen. Bernie Sanders and others are calling for a one-time 60% tax on the 2020 Billionaire Bonanza. And surprise, one Billionaire agrees. Microsoft's founder Bill Gates, the No. 3 ranked Billionaire, says it's time to fix the U.S. tax system by " raising taxes on people like me."
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