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These charts about how much money billionaires would have today if a wealth tax had been in place for 40 years are fun but let’s also see what the public sector could’ve done with all that money. How many school lunches? How much environmental progress?https://twitter.com/AlecMacGillis/status/1193978202219302914 …
The choice to create a set of rules that help Jeff Bezos accumulate $160 billion instead of a mere $49 billion isn't just a choice to help Jeff Bezos' ego, it's also a choice *not* to fix crumbling infrastructure or make sure sick kids have medicine.
A wealth tax would only be paid by the ultra-wealthy, but it isn't really about them. It's about everyone else. It's about all the things we could do as a society if we valued people having enough to eat as much we value Jeff Bezos having enough money to buy several islands.
“Helping other people is ok but have you ever tried accumulating more money than you’d ever need?”
Unfortunately, there’s no guarantee the tax would have been used for school lunches or environmental progress, or anything else to better the country. I remember when NY started a lottery dedicated to education. The $ didn’t wind up there.
Lol, nice trope.
Those numbers assume the same % tax as currently proposed, right?
The combined difference of all listed in that chart would cover half the cost of estimated drinking water systems infrastructure repair for the next 25 years. 10 guys could do that. And still be so unimaginably rich that they could buy and sell Dick Cheney.
Bezos alone could cover 1 1/2 years of the estimated cost of free public university. All 10 together could cover cost of WIC for 83 yrs. If it was placed in a trust, like SocSec, it would self sustain indefinitely. Every one of them would still be obscenely wealthy.
The 10 together would be able to cover the 2/3 cost of public education nationwide for 1 year. Or they could give every man, woman, and child in the US $1500. Or $11,600 to every person currently living below the poverty line.
Thinking about that last one. $11,600 is a reliable car plus a little extra to put in a slush fund for emergencies. Not having a reliable cars are huge poverty reinforcers.n
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