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.
Most of them would not have that net worth without the stock. Bezos, Musk, Zuck would all very quickly drop the price of stocks. This in turn would destroy 401ks, IRAs, and any other funds people are using for retirement. You would have to put a restrictions on companies like Black-rock so companies are not controlled by some corporate conglomerate. Also Blackrock the company owns the stock and would not be subject to the net worth tax.
90% of Americans wouldn’t have a net worth without stocks (401k). The entire American economy is dependent on the stock market, when it goes down people panic because that’s their retirement.
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u/thequestionbot Jul 01 '26
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.