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Apparently billionaires in the USA hold 4.48 trillion, 756 of them or so. So if they all dumped their wealth and saved a billion (should be enough to retire on
by bombcar 2y ago
Apparently billionaires in the USA hold 4.48 trillion, 756 of them or so.
So if they all dumped their wealth and saved a billion (should be enough to retire on, even for the conservative portfolio!) we would have 3.72 trillion - it would cover the US deficit for two, maybe three years.
- senko 2y agoOr to spin this another way: Americans spend around $200B* annually on education (private spend, on top of federal/state/local education spend), so this would provide all-expenses-paid free tuition for everyone for 18 years, or more than 50 years if focusing on primary/secondary education. In that time, there might be a new crop of megarich to continue the cycle :) ([*] $50B for primary/secondary ed, $150B for higher - figures via Kagi Assistant, which I didn't double-check).