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Spain, Belgium, Switzerland and Norway have some form of a wealth tax, and it can bring them between 0.5 to 3+% of total revenue. If America could raise 1% of
by criley2 7y ago
Spain, Belgium, Switzerland and Norway have some form of a wealth tax, and it can bring them between 0.5 to 3+% of total revenue.
If America could raise 1% of its revenue from wealth taxes, that would be a yearly revenue of ~$31.8B.
For reference, NASA's yearly budget is around $21B, and the cost of free college for all Americans would be around $45B depending on plan and how aggressive a single payer could reduce costs.