Top 10 wealthiest American men collectively earned extra $1B a day, report says, as Trump pushes tax cuts [View all]
Source: The Independent
The top 10 wealthiest billionaires in the U.S. collectively became $1 billion richer every day last year, new analysis has shown.
The group – which includes allies of Donald Trump, including tech bosses Elon Musk, Jeff Bezos and Mark Zuckerberg – saw an increase in their collective wealth of $365 billion over the last 12 months.
It comes as House Republicans narrowly passed the measure, known as Trump’s “big, beautiful bill” early Thursday morning. The bill looks to slash taxes for the mega-rich, while making cuts to Medicaid and food assistance programs.
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According to Oxfam, it would take 726,000 years for ten U.S. workers with median earnings to make the equivalent of the billionaires. In contrast, if the wealth gains of the 10 richest billionaires were taxed like income from work, they would owe a collective $135 billion in taxes.
Read more: https://www.the-independent.com/news/world/americas/us-politics/billionaires-wealth-increase-trump-musk-bezos-b2755622.html
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