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by positr0n
212 days ago
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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. |
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The top 1% of the people hold 30% of all the wealth. The top 10% hold 60% of the wealth.