American Tycoons Raked in an Extra Billion Daily as Trump Pushes Tax Cuts, Report Reveals

The richest ten billionaires in the U.S. saw their combined wealth increase by approximately $1 billion each day throughout last year, according to recent analysis.

The group –

including supporters of Donald Trump,

including tech bosses

Elon Musk

,

Jeff Bezos

and

Mark Zuckerberg

— experienced a growth of $365 billion in total assets over the past year.

It appears that the House Republicans do so

narrowly passed the measure

, known as Trump’s

“big, beautiful bill”

Early Thursday morning. The legislation aims to reduce taxes for the ultra-wealthy and also proposes reductions in expenditures.

Medicaid

and food assistance programs.

Review of information from Forbes,

conducted by Oxfam

, has demonstrated that even with the recent market turmoil sparked by Trump’s tariff policies, several of the world’s wealthiest individuals have faced minimal challenges.

“We’re witnessing a tax code being crafted that could lead to the creation of the planet’s first trillionaire,” stated Rebecca Riddell, Senior Policy Lead for Economic and Racial Justice at Oxfam America, referring to Trump’s suggested legislation.

Despite the chaos triggered by Trump’s economic turmoil, the wealth of billionaires has skyrocketed, whereas countless everyday individuals find it difficult to cover their basic expenses.

Oxfam reports that it would require 726,000 years for ten average-earning American employees to earn what the billionaires have accumulated. Conversely, taxing the wealth increase of these same 10 wealthiest individuals as labor income would result in them collectively owing $135 billion in taxes.

A tax of merely 3 percent on assets exceeding $1 billion would generate more than $50 billion from the top 10 wealthiest American billionaires, as reported by Oxfam. The organization notes that this amount could fully fund the national rental aid program or provide food assistance for an entire year to 22.5 million individuals.

An initial assessment from the

Congressional Budget Office

discovered that Trump’s proposal would boost benefits for individuals with higher incomes by extending the 2017 Republican tax legislation.

Approximately 60 percent of the tax advantages would be received by individuals within the highest income bracket, which consists of people earning around $217,000 or more annually, as indicated by the analysis.

Tax Policy Center

.

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