7 ms·
The solution is obvious and simple: Tax wealth not work.
by bensmoif 9mo ago
The solution is obvious and simple: Tax wealth not work.
- gjsman-1000 9mo agoEven if you were to liquidate every billionaire in America, at a 100% tax rate above $1 billion, and were able to sell the shares at current stock prices without a collapse, you would pay for the government deficit for... 3 years. Because their combined wealth, on paper, is $7T while we're running over $2T shortfalls every year. 3 years of not taking out debt, while still needing everyone else to pay current rates. Then you're back to square one. Sans billionaires and sans any major capital investment anywhere.
- fzeroracer 9mo agoNow explain the 2017 Tax Cuts and Jobs Act.