False. The combined net worth of all US billionaires is about 6 trillion dollars. The US national debt is over 36 trillion dollars.
The rich half of the US populus own about $156 trillion. Thus therefore as a conclusion therefrom you only have to take 23% from half the population. Lets make it progressive from 0% at average wealth to 52% at the top.
Much less than Roosevelt's 94%
But I'm neither democrat nor republican, it might not make sense to anyone :)
To be sensible, you don't just pay 100% and be done with it. That would be silly. 1.3% for the top hoarders seems enough. It will grow back.
As the saying goes, Republicans can't do science, and Democrats can't do math.
All this 'just tax the billionaires' is the latter.
If you thought I, or anyone else thinks that by taxing billionaires we would pay off the entirety of the debt, I don't know what to tell you bud.
Silly of me to take you at your word when you said, "the problem with US debt comes from their unwillingness to tax billionaires".
Silly you indeed. I have no idea how you read that and interpret it as "taxing billionaires will pay the entire debt." As I mentioned in another comment, taxing billionaires is crucial step but one of many needed.
> I have no idea how you read that and interpret it as "taxing billionaires will pay the entire debt."
It’s the direct, logical implication of the statement and you are obviously moving the goalposts after the fact. The truth is, any tax increases will have to affect just about everyone who pays taxes in order to make any real difference. There is no possible way that taxing billionaires more is even a significant chunk of the solution.
I'm not moving goalpost, you just read my statement wrong. There are many steps to take but taxing billionaires is a crucial step to getting the funding to fix many of the other problems that cities don't have the money to tackle.
I thought taxing billionaires was supposed to fix the national debt, not to fund new spending that will supposedly "fix many of the other problems that cities don't have the money to tackle". (Which is false--lack of revenue is not the reason city governments don't work--but that's another issue). You've just moved the goalpost again.