The Billionaire's Divide

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engagement-team (Free Agent) Posted 2 months ago

There is no doubt that COVID19 has had devastating effects on people's lives and the economy. As of this writing (8/9/20), there has been more than 164K Americans died due to coronavirus. No where else has it shown the disparity in wealth than who has benefited the most during the pandemic. No one would argue that Jeff Bezos and his company Amazon when you look at only the numbers. The losers are the poor and the working class.

As believers in capitalism and fairness, there has got to be a better way to distribute wealth. Take a look at the stock market rise of several of the billionaires in the United States and you're understand the concern for wealth disparity. The numbers (net worth) speak for themselves:

Jeff Bezos (Amazon) - $34.6 billion 31% increase
Bill Gates (Microsoft) - $8 billion 8% increase
Mark Zuckerberg (Facebook) - $25.3 billion 46% increase
Warren Buffett (Berkshire Hathaway) - $564 million .8% increase
Larry Ellison (Oracle) - $7 billion 12% increase

This is according to an Americans for Tax Fairness report for the period between March 18 and May 19. During this same time, millions of Americans were filing for unemployment benefits. Whether the wealth disparity can be resolved voluntarily through philanthropy (AKA Giving Pledge) or involuntarily through taxation. The system needs to change for humanity.

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