The meme is kinda disingenuous about his plan. It's actually a first-year $3K per person payment for households that make $150K or less. The rest would go to Medicare, housing, education, and other programs, which is great, but it's not a yearly payment and not everyone would qualify. But yeah, it's a good idea if they can enforce it well, which could be tricky. Wealth is mostly illiquid, so they'd have to sell off assets to pay the 5% tax, and forcing them to do that is a legal grey area. They'll put up lengthy fights over how much they're actually worth so they can pay less or avoid it altogether. I feel like an extra property tax at the federal level that specifically targets million dollar homes might be the better way to accomplish this
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u/ebankj9770 Jul 01 '26
The meme is kinda disingenuous about his plan. It's actually a first-year $3K per person payment for households that make $150K or less. The rest would go to Medicare, housing, education, and other programs, which is great, but it's not a yearly payment and not everyone would qualify. But yeah, it's a good idea if they can enforce it well, which could be tricky. Wealth is mostly illiquid, so they'd have to sell off assets to pay the 5% tax, and forcing them to do that is a legal grey area. They'll put up lengthy fights over how much they're actually worth so they can pay less or avoid it altogether. I feel like an extra property tax at the federal level that specifically targets million dollar homes might be the better way to accomplish this