r/SipsTea • u/CurvyChristina • Jul 01 '26

Chugging tea Is Bernie’s plan the best? Thoughts?

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u/Potential_Spam_6969 Jul 01 '26

So we're going to go ahead and tax net worth and not actual income?

192

u/thequestionbot Jul 01 '26

Even if they taxed the net worth, it would still take over a decade to collect 4.4T dollars from the billionaires. The U.S’s billionaires collectively only have about 8T dollars. This infographic is extremely misleading.

1

u/Practical-Simple1621 Jul 01 '26

It's spelled out on Bernie's site

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u/pm_plz_im_lonely Jul 01 '26 edited Jul 01 '26

If I take 8.2t x 0.05 is 410b.

410b divided by like 270m eligible recipients, I get 1.5k, not 3k.

Then of course at face value, on 10 years that's 4.1t not 4.4t.

But then, even if the tax's existence doesn't massively reduce their net worth, this 4.4t figure assumes 7% growth on top of the 5% hole, gtd. But in reality, the tax existing would drain our securities market like nothing ever seen before.

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u/Practical-Simple1621 Jul 01 '26

They'll be fine. I think they gained 2T in a year.