Wednesday, May 21, 2025

10 Richest Americans $365 Billion Richer, Get New Tax Cut

New York CNN " Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam.

The stunning increase in wealth amounts to a gain of roughly $1 billion per day for those billionaires.

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"By contrast, the typical American worker made just over $50,000 in 2023. Oxfam found that it would take a staggering 726,000 years for 10 US workers at median earnings to make that much money.

The findings put an exclamation point on the nation's wealth inequality and come as Republicans debate a costly bill that nonpartisan experts say will make the rich even richer and deeply cut nearly $1 trillion from key safety net programs.

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"Billionaire wealth has increased astronomically while so many ordinary people struggle to make ends meet," Rebecca Riddell, senior policy lead for economic and racial justice at Oxfam America, said in the report.

Elon Musk alone got $186 billion richer"

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Sounds fair. The largest transfer of wealth from the poor and middle class to the Oligarchs that has ever been... rigged.

#1 | Posted by Corky at 2025-05-21 12:59 PM

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