Wealth of the Top 1% in US Hits All-Time High of $45 Trillion
Wealth of the Top 1% in US Hits All-Time High of $45 Trillion
"With a 2-cent Ultra-Millionaire Tax on every dollar of wealth above $50 million—and another penny on every dollar above $1 billion—we can invest in opportunity for all of our kids," notes Sen. Elizabeth Warren.
US debt, $35 trillion.
US 1%, $45 trillion
US 1% less US debt: $10 trillion
US population:330 million
1% of US population: 3.3 million
US 1% less US debt per person: ~$3 million
If you took as much needed to pay down the debt it would leave enough money they’d still never have to work again. Sounds like an easy solution to me. Even more so if you make the top 0.1% pay more than the other 0.9%
I know you're just making a comparison but if you actually paid off the national debt you would destroy the dollar.
Which you actually don't want to do unless there's a viable alternative, which there isn't atm.
Really their wealth should be appropriated to build sustainable infrastructure across the globe so we can survive the catastrophe they've created without mass death (or minimize it as much as possible). But if you have the political will to do that then you might as well just push the communism button.
Yeah it was just to make a point to all the hand wringers about the national debt, I don’t actually think paying the debt down is a good thing. Idk that much about it but every time I’ve looked into it I become convinced it’s not an extreme concern, they just shell game the money between the fed and the treasury and delete the money off the balance sheet.
If you took as much needed to pay down the debt it would leave enough money they’d still never have to work again.
Correct me if im wrong but is it the 1% of the US themselves (+ other billionaires) that the US government is indebted to?
The majority of US debt is owed to American citizens and corporations. I’m not sure how much is owed to the 1% but probably a significant fraction. Great point