High income individuals already pay a majority of personal taxes in America. And American governments get about $10T(or $29k per citizen) to play with each year between federal, state, and local.

Exactly how much money is needed to create this society you're imagining? America has more than enough money (IMHO), we just suffer from cost issues, and if you just throw more money at a situation where you have cost issues, you are just burning the money.

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an hour ago | parent | next [-]

[deleted]

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zwnow an hour ago | parent | prev | next [-]

We suffer from billionaires hoarding money and companies creating an unfair market. Tell me what's the need for billionaires? Even having 100m is enough to feed a few generations of your family, isn't that enough?

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thomasfromcdnjs an hour ago | parent | prev [-]

To piggy back on this, as a thought experiment, if you took all the wealth of every American billionaire combined you would pay for the US government for about a year.

	▲	mothballed an hour ago \| parent [-]
		Top 10% wealth is $113T. Government is operating off of $5T revenue. Seizing all of it and putting it into even a foreign owned asset basket (could pick an economy as shielded as possible from US in case it causes instability in US economy) should yield enough interest (at least 5% real) to operate the federal government and public entitlements indefinitely based on present real revenues.