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Report on Inequality Finds 3 Richest Americans Wealthier Than Bottom Half

HeadlineNov 09, 2017

A new report on U.S. inequality finds the nation’s wealthiest three men hold more wealth than the bottom half of Americans—more than 160 million people. The report from the Institute for Policy Studies, titled “Billionaire Bonanza 2017,” finds Bill Gates, Jeff Bezos and Warren Buffett hold a combined $248.5 billion, while the lowest 20 percent of U.S. households hold zero or negative wealth. The report’s authors, Chuck Collins and Josh Hoxie, warn, “Over recent decades, an incredibly disproportionate share of America’s income and wealth gains has flowed to the top of our economic spectrum.” The findings come as Senate Republicans prepare to unveil their plan to cut taxes—a bill that’s expected to balloon the national debt while slashing taxes on corporations and inherited wealth, showering most of its benefits on the wealthiest Americans.

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