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The incidence of corporate taxes on the average American is hotly debated but it’s definitely well above 0. Confiscating 100% of the ultra wealthy’s wealth wou
by twoodfin 2y ago
The incidence of corporate taxes on the average American is hotly debated but it’s definitely well above 0.
Confiscating 100% of the ultra wealthy’s wealth would—for any reasonable definition of “ultra wealthy”—perhaps fund the government for a year or two.
- dgfitz 2y agoProbably like 6 months, maybe. I agree with the premise of your point.
- lupusreal 2y agoBut if you took just one billion dollars from Jeff Bezos you could give a million dollars to every American. I've been told such things many times.
- twoodfin 2y agoOne way to think about this silly math in reverse: Split-adjusted, Amazon IPO’d at $0.075 a share. If instead of raiding my $3 piece of Jeff’s billion, I had the good sense to give him that pittance 25 years ago, it’d be worth $7,400 today.
- msisk6 2y agoI know this is in jest, but it might be the root of the problem; a lot of folks don't have a good grasp on basic math, especially with large numbers, and fall victim to this kind of thinking.
- EVa5I7bHFq9mnYK 2y agoBut if you leave $1b to Bezos, which is a pretty good retirement fund, you can give $500 to every American.
- Danchristensen 2y ago[dead]