[hurrrr]

Yes, but this only works as long as the economy remains competitive. Europe is rapidly squandering the human and economic capital it has accumulated over centuries, while the US and Asia continue to grow. Welfare exists as long as someone pays for it.

[otikik]

In the US and Asia, wealth is concentrating in a few individuals. Those don't pay welfare anyway and pay less taxes than me.

[positr0n]

This is a problem, but unrelated to what the parent is saying. If you taxed 100% of the wealth of all US billionaires it looks like it would pay for social security, medicare, and medicaid for about a year and a half.

You still need a strong economy and middle class tax base to have any sort of welfare state.

[otikik]

https://en.wikipedia.org/wiki/Wealth_inequality_in_the_Unite...

The top 1% of the people hold 30% of all the wealth. The top 10% hold 60% of the wealth.