I see, so you're suggesting 5% is not enough? I'm listening...
replyYou could confiscate 100% of the wealth of every billionaire in this country and it wouldn’t fund the government for an entire year. It is and always will be a government spending issue, the government can’t help itself but to just steal more from the taxpayers to support their bloat.
reply>You could confiscate 100% of the wealth of every billionaire in this country and it wouldn’t fund the government for an entire year.
reply1. I see that being 14 trillion. That would in fact fund the government for a year. even for 2 years.
2. taxes aren't about achieving perfect equality. But it's in part to incentivize people to not hoard wealth and spend it in the company. Few of the busnesses in the 50's/60's paid close to the tax brackets they had back then (Which would give modern billionaires a heart attack, despite that being "the times to return to).
I do agree it is a spending issue, for far too long corporate welfare has flourished in America. None of these rich people would exist with out the federal teat they suckle from, truly pathetic. Remove their bloat, take their money, and fund programs that will enable REAL economic value like medicare for all, universal childcare, free school lunches, public jobs programs, and universal education.
replyAnd where will we get the money to fund this fantasy land in 8 months after the government runs out of money and we’ve already stolen all the billionaires assets?
replyShould we move on to anyone with a net worth over $1M and start stealing their assets too?
What do you think happens to the money when it gets distributed to low income people?
replyThey spend it, it gets injected back into the economy and the economy grows. It doesn’t sit in a hidden bank account to avoid paying taxes on it.
Probably the same way that the republicans are able to generate funds out of thin air to pay for tax cuts. If MMT is good enough for them, it's good enough for everything else.
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