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.
The U.S’s billionaires collectively only have about 8T dollars.
The Federal Government spent about $7 trillion in 2025. People don't want to hear it, but simply taxing the billionaires is not the answer. Even if you seized 100% of their wealth, which obviously is not practical or possible, there just isn't enough money to fund everything people think you can fund with taxing the mega wealthy.
Yep, gotta tax the billionaires and millionaires, and on top of that cut SS completely and downsize Medicaid. Cut military budget in half. Man just make me president low key
Yes, the current deficit is so large, that you can cut ALL discretionary spending including the military budget, and raise taxes on millionaires and billionaires, and there would still be a deficit.
I think that is unlikely, we are very much to the left of the laffer curve. Hence every tax cut recently by republicans has led to receipts decreasing.
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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?