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> We pay taxes so the government can pay to subsidize these healthcare corps that just serve to funnel money to its already rich shareholders. Americans are ab
by robocat 3y ago
> We pay taxes so the government can pay to subsidize these healthcare corps that just serve to funnel money to its already rich shareholders.
Americans are about 4% of people but gets 25% of world GDP. There's 333 Mega Americans, with 8 GigaPeople in the world. Most Americans are doing just fine financially in comparison to the rest of the world.
To make things fair, then the wealth of the richest US citizens (about 55% of equity ownership by value[1]) should to be spread to the rest of the world, not spread to other Americans by US taxation changes.
I'm from New Zealand. Our ownership of US shares is likely reasonably fair. NZ has three billionaires[3] (not one inherited their wealth). We are still a relatively wealthy country, but our median income is about 60% of the US median income. I'm not sure what % of NZers would be classified as in poverty by US standards.
40% of US equities are owned by foreigners. If we assume rich foreigners use Cayman Islands and Luxembourg for their ownership, then from [2] a third of that 40% is rich foreigners. Probably better to assume wealth distribution is similar to US so 55% of that 40% is wealthy foreigners.
[1] https://www.taxpolicycenter.org/taxvox/who-owns-us-stock-foreigners-and-rich-americans https://www.taxpolicycenter.org/taxvox/who-owns-us-stock-for...
[2] https://home.treasury.gov/news/press-releases/jy0613 https://home.treasury.gov/news/press-releases/jy0613
[3] https://en.wikipedia.org/wiki/List_of_New_Zealanders_by_net_worth https://en.wikipedia.org/wiki/List_of_New_Zealanders_by_net_...
- honkycat 3y agoNice citations. Finish your thought. What's your point? Do you honestly think the average American lives better than the average Kiwi? That is an adorable thought lol. Check out the latest Channel 5 documentary to see how many Americans live. We have some mega-wealthy people but also have extreme poverty and even our middle class often does not have health insurance.