You’re getting $1400, but a $1.9T relief bill divided by 330M Americans is costing you $5757.
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(1) Only about 600 of that 1% (i.e. 3 million people) are billionaires. (2) That is a reflection of the share of pre-tax national income they garner (we can argue if this is warranted, or not). (3) 38% is lower than most developed nations despite the higher share of income.
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What would be a good solution then? Re-arrange gov spending? Move the taxation to corporations of a large size? What other solutions could be viable without serious drawbacks?
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Since people don't want to pay tax, I'd suggest running permanent deficits to implicitly transfer wealth to the working class. Compensate the middle class for inflation by offering high interest bonds to them. This will have to be monetised by the fed...
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Uhhh now do how much they own
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