Taxing super-rich debate should start with 2% levy, says economist behind plan
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5 commentsThis would direct cash to dividends which then could get taxed as individual gains...
You could seize the full assets of every US Billionaire and it wouldn't cover a single year of the federal budget or dent the debt. There's no way to tax out of this hole... spending cuts need to happen, and restructuring as well. Taxes should focus on points of exchange.
In 2024, the Federal government is projected to borrow $1.9T.
And remember: billionaire wealth is mostly paper wealth. The deficit is real dollars.
We have a spending problem. Not a rich people problem.
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