"With a 2-cent Ultra-Millionaire Tax on every dollar of wealth above $50 million—and another penny on every dollar above $1 billion—we can invest in opportunity for all of our kids," notes Sen. Elizabeth Warren.
  • itsonlygeorge@reddthat.com
    2·
    8 months ago

    So if taxed the rich, we could probably fund the government? Considering the federal budget is a few trillion short, this seems like a no brainer.

    Oh wait, I forgot we allowed the rich to pass a bunch of tax cuts to prove that various social programs ran by the federal government are too expensive and should therefore be completely defunded and removed.

    I mean who needs a pension or healthcare so long as you continue to work until you are 75? /s

    Eat the rich. Fund the government.

  • hackerwacker@lemmy.ml
    13·
    8 months ago

    A lot of this will be in stocks though, not money in the bank. So how would that work? They have to sell 2-3% of their stocks every year to pay this tax?

    • Rivalarrival@lemmy.todayEnglish
      2·
      8 months ago

      They don’t have to sell them. The SEC can just give them to the IRS. IRS liquidators take the shares and sell them slowly, comprising no more than 1% of total traded volume.