Posted on 05/21/2020 7:41:24 PM PDT by GuavaCheesePuff
America's billionaires saw their fortunes soar by $434 billion during the U.S. lockdown between mid-March and mid-May, according to a new report.
(Excerpt) Read more at msn.com ...
They didn’t get to be billionaires by not knowing how/when to invest.
This is probably a very unpopular opinion around here, but this is why we absolutely need a wealth tax instead of an income tax!
Or to invest in politicians to pass laws to make buying their products, like face masks or gloves, mandatory.
billionaires are more able to ride out a self inflicted national depression based on craptacular computer models and hardly-unbiased “medical experts”
Well, you made it three days...
“For the year, Buffett’s wealth has declined by $20 billion, according to the Bloomberg Billionaire’s Index, while Gates is down by $4.3 billion. For the year, Jeff Bezos has gained $35.5 billion while Zuckerberg is up by $9 billion.
There were some losers during the two-month period, especially for billionaires in the travel, hospitality or retail business who have yet to see their stocks and companies recover. Ralph Lauren saw his wealth drop by $100 million to $5.6 billion, while hotelier John Pritzker saw his wealth drop by $34 million to $2.56 billion.”
Women and minorities suffer the worst.
All the business monopolize by Walmart, Target, Amazon,
Small business in hand cuffs
You didn’t give any reason why. Maybe you might want to take another shot at this. Is it just because you think what they accumulated somehow belongs to you who did absolutely nothing?
BTW, IBTZ
Because Fauci tells them what stocks to buy regarding vaccinnes and newly developed meds. Fauci wants you to take meds that cost thousands instead of Hydro which costs dollars.
Why did they pick mid-March for the starting date? Could it be that the market tanked in early March, hitting bottom in, gee, mid-March?
I must be rich because my 401K is up a ton since mid-March. Of course, it is down a ton if you use March first as the starting date.
TROLL DERP !
And how would that work? Politicians would have direct access to your savings.
its some of my money, taken with the crashed stock market and I want it back...
Go back to DU.
we need to stop making impossible for working and middle income people to jump to the next tier....they won’t let us...+
I'll play this game. Let's get rid of all income tax and property tax (I hate "renting" from the government) and fund the government 100% with sales tax. That way everyone has skin in the game, including drug dealers, illegals, and "rich" people.
I guess I support the "Fair tax" idea.
Well, you’re going to have to classify everybody earning over $20 thousand per year as wealthy.
Taxing the wealthy, as classified currently, would mean that the the federal government and most states and local governments, would have to shut down, since there would not be enough revenue for them to run their services.
“Or to invest in politicians to pass laws to make buying their products, like face masks or gloves, mandatory”
And keep their small business competitors shut down.
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