The COVID-19 pandemic did not slow down the bank accounts of the majority of the billionaires residing in Connecticut and that includes Vince McMahon.
The Middletown Press shared a report on what has to be a sobering visual for the vast majority of the United States indicating that eight of the 14 billionaires who consider Connecticut home have saw their wealth increase. Despite the several months which witnessed the bankruptcy of the XFL, McMahon saw a nearly 10% increase in the amount he’s worth. From March to June, McMahon saw a growth of $177 million.
The report states how many experts consider this news of a larger problem when thinking about the United States’ economic structure.
“It is this kind of enormous wealth gap and imbalance that threatens the livelihood of so many Americans, and we also believe it threatens the economic growth and stability moving forward, which is also a huge point of this effort,” said Ann Pratt, organizing director for the Connecticut Citizen Action Group who also attributed the increases to “inequitable and unfair tax structures that give billions and billions of dollars to the 1 percent and the wealthiest in this country and continues to impact jobs, funding, schools, infrastructure, livelihoods for so many people, healthcare.”
Tom Swan who is the executive director of the CCAG issued a written statement:
“This report is a stark reminder of the level of inequality in Connecticut. It also makes clear that any austerity arguments are disingenuous when the legislature begins to grapple with Connecticut’s legacy of white supremacy and looming budget challenges…” (h/t to Lavie Margolin for the information).
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