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> Start my [sic] taxing the rich. I don't think it's clear that this is anywhere near enough. Say you want to pay $1,200 per month to all Americans over 18. T
by NovemberWhiskey 6y ago
> Start my [sic] taxing the rich.
I don't think it's clear that this is anywhere near enough.
Say you want to pay $1,200 per month to all Americans over 18. There're about 210mm of them. That's just over $3tn per year.
In 2017, the latest year with detailed data, Americans paid about $1.6tn in Federal income taxes.
So the scale of the spending we're talking about is "imagine income taxes increased to about 300% of the current amount". Of course, it's more nuanced than that, because the theory is you make some savings on other programs and fund from sources other than just income tax - but it still gives a sense of the scale.