Thursday, May 28, 2020

Will Things Change?

40.7 million Americans have lost their jobs over just the past 10 weeks as mass layoffs induced by the coronavirus pandemic continue. More than 100,000 people have died of Covid-19 in the United States.

Currently, there are 16 more billionaires than there were in mid-March.

According to a new analysis by the Institute for Policy Studies (IPS), the combined net worth of America's billionaires soared by nearly half a trillion dollars, bringing their total wealth to $3.4 trillion. IPS, which has been publishing weekly updates on billionaire "pandemic profiteering," found that the combined net worth of U.S. billionaires grew by $485 billion between March 18 and May 28, an increase of 16.5%.

Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg saw their combined wealth soar by $63 billion over the last 10 weeks.

It said, "This is a grotesque indicator of the deep inequalities in U.S. society," adding,  "This isn't just unsustainable, it's unconscionable."

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