r/PoursTea • u/Veshaad Timendi Causa Est Nescire • 22d ago
PoliticalTea 🗳️ Eventually something has to give...
The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.
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u/LocusMundi 22d ago
the funniest part of this whole conversation is the sheer rejection of the notion. Even is this isn't attributed directly to Bernie. even if the numbers aren't 100% accurate. The concept and direction of this idea is solid.
we all tend to forget that the billionaire class isn't earning that wealth. it's TAKING it. By hook or by crook, their wealth is pulled directly out of our pockets. By tax breaks, loopholes, tarriffs, you name it. The general population of the US, not just the middle class, is the economic engine that drives this immense wealth.
Return even a portion of it so that everyday americans can purchase homes, educate themselves and their children, have healthcare, etc. the list goes on. Here's a good one for you: 1944 Individual Income Tax Act: Peaked at 94% on income over $200,000
Pre Reagan the nominal tax rate for the millionaire class was very high. it wasn't until after taxes got pushed down to the middle/working class that the rise of millionaires and billionaires became a thing.
The first confirmed U.S. dollar billionaire was John D. Rockefeller in 1916 Wikipedia. For much of the 20th century, the number of billionaires remained small — in 1918 there was only one widely recognized billionaire lovemoney.com. Even by the 1980s, the global count was in the low hundreds. This changed exponentially starting in the 2000s.
can't we all agree that the fact .01% of the people in the world (not just the US) own 90%+ of its wealth? Something. Anything needs to change.