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Sounds like we need to start taxing the rich a lot more to pay it off.
by m_ke 5y ago
Sounds like we need to start taxing the rich a lot more to pay it off.
- deleted 5y ago[deleted]
- TbobbyZ 5y agoIf you tax 100% of the money rich people have, it wouldn’t even put a dent in the debt.
- ceejayoz 5y agoSure it would. We could pay the entire thing off with that. https://www.cnbc.com/2021/06/23/how-much-wealth-top-1percent-of-americans-have.html https://www.cnbc.com/2021/06/23/how-much-wealth-top-1percent... > The wealthiest 1% of Americans controlled about $41.52 trillion in the first quarter, according to Federal Reserve data released Monday. Can't do it again as easily, of course.
- TbobbyZ 5y agoMost rich people don’t have all their wealth in cold hard cash. They have assets. You can’t force rich people to sell their assets. And if you did, it would crash the economy.
- seneca 5y agoYeah, just strangle the golden goose and we'll eat like kings tonight. Tonight.
- meepmorp 5y agoOh no, whatever shall we do without if we no longer have rich people but still have all their assets?
- TbobbyZ 5y agoZimbabwe. That’s what we will do. You can’t simple hand assets over to normal people and expect the assets to maintain their value. The Zimbabwe government took the farms from their owners and gave them to normal people. Mismanagement of them lead to food shortages.
- subject119 5y agoLook at how well our government manages their current assets, if given more assets they will surely do well managing those too! ;(