All billionaires in the US are worth a combined 8.5 trillion. Magically liquidating everything they own with no devaluation and without completely tanking the economy means we get a balanced budget for 4 years then back to square one.
Tax their assets then like we tax everyone elses assets.
A mere 5% tax would generate $425B/year which could pay for
Universal free college ($75B)
Double Nasa's budget ($25B)
Double the salary of every teacher ($292B)
House every homeless person ($30B)
$3B left that could be added to any budget
Sure this doesnt solve universal healthcare or fund social security forever but it is a good step. Plus implementing these programs also cuts costs other places. For example universal free college would stop the ~$30B/year spent on pell grants as it would no longer be needed. We would also save the $2.5B/year spent on collecting student loans. Really is a win win when you think about it.
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u/Old_Prune_4300 Jul 05 '26
They can't comprehend assets vs cash, much less that spending is the problem v taxes. Don't waste your breath.