Biden is proposing an extra $6 trillion over eight years - ~3% of GDP. Quite easy to take that extra 3% out of the 20% earned by the richest 1%. And that $6 trillion doesn't come out of the median; it makes them better off.https://twitter.com/nathansnewman/status/1387447531500707840 …
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You are right in your NRO piece that we can't get that just from taxing Jeff Bezos. But top 1% made up of 1.4 million taxpayers whose average annual income is about $1.7 million each year. Plenty of money there to fund Biden's plans.https://www.usatoday.com/story/money/2020/07/01/how-much-you-need-to-make-to-be-in-the-1-in-every-state/112002276/ …
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That's literally not true. You might need to sit this one out Dan.
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Taking those 1.4 and 1.7 million numbers for 1% as true, that’s $19 trillion of income for 8 years. Six trillion is 31% of that - and that’s only for new spending. They already pay an ave income tax rate of 26.8 for the rest of the budget (tax foundation), so that’s nearly 60%
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He's a teacher what do you expect!!
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“Indirectly” is doing a lot of work there
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