I don't want to simp for the billionaires... but here we are. This is fallacious nonsense: "Honestly, I don't think this mild tax hike for billionaires will ha

I don't want to simp for the billionaires... but here we are. This is fallacious nonsense: "Honestly, I don't think this mild tax hike for billionaires will happen even if Biden wins his reelection because the richest Americans have all the resources on earth ready to fight this, but it would be a small course correction to a tiny number of people that could really shift how the rest of us get to live." No, it wouldn't. The cumulative net worth of America's billionaires is about $5.2 trillion. If we went full tankie and made them all take a 25% haircut on everything -- income, unrealized gains, the whole shebang -- that gets the government about $4k worth of additional revenue for every American in year one. Years two through infinity? Probably less, since now there's less billionaire pie and since most of that remaining capital will flee the country. I get it -- they've got a pile and we don't. But I am not convinced, in a country where 40% of households pay zero federal income tax, making the system more progressive and more confiscatory counts as fixing a policy failure.