Don_Dickle@lemmy.world to No Stupid Questions@lemmy.world · 19 days agoCan't find a decent math sub so asking here. If we killed all bad billionaires or all the 1%. How much would America clear it's debt or how much could be given to taxpayers?message-squaremessage-square22linkfedilinkarrow-up128arrow-down14file-text
arrow-up124arrow-down1message-squareCan't find a decent math sub so asking here. If we killed all bad billionaires or all the 1%. How much would America clear it's debt or how much could be given to taxpayers?Don_Dickle@lemmy.world to No Stupid Questions@lemmy.world · 19 days agomessage-square22linkfedilinkfile-text
minus-squarevillage604@adultswim.fanlinkfedilinkEnglisharrow-up4·edit-219 days agoIt’s not a poor understanding, just simplified. The major problem is that banks will give them loans using speculative assets as collateral. Easy fix is to both tax the collateral as a realized gain, and the loan as income. But their wealth is mostly in non-liquid assets, not a bank account.
It’s not a poor understanding, just simplified.
The major problem is that banks will give them loans using speculative assets as collateral. Easy fix is to both tax the collateral as a realized gain, and the loan as income.
But their wealth is mostly in non-liquid assets, not a bank account.