Why isn't Bernie Sanders railing against lockdowns?! Why isn't Bernie slamming the COVID lockdowns as Billionaire wealth transfers from the poor and middle class?!
— Marc Morano (@ClimateDepot) December 3, 2020
By Niall McCarthy
American billionaires haven’t been just immune to the pandemic, they have been thriving in it, drastically increasing their collective wealth. An analysis by Chuck Collins at the Institute for Policy Studies found that American billionaires have seen their wealth grow by $1 trillion since March of this year – more than 34 percent. That was not the case during the 2008 financial crisis when it took Forbes’ 400 richest people three years to recoup their losses from the Great Recession. Collins’ findings highlight a wealth gain by a mere 650 individuals that seems obscene at a time when nearly 7 million Americans are at risk of eviction when moratoriums expire at the end of the year.