No. If you taxed Gates 100 Billion, he would have to cash out all of his investments. That would crash the market and a ton of people would lose their jobs. & That one time influx in revenue wouldn’t even be enough to pay the government’s interest on debt this year.
The reason so many Americans have so much is because of people like Gates. Also, you can only take it from them once. Eventually you run out of other people’s money and have no one left who can create wealth. You won’t have another Gates to tax next year.
If all you need to end homelessness is to 100 billion, why does CA have the worst homelessness problem in the country despite collecting hundreds of billions in tax revenue every year?
These people are economic illiterates but want to micromanage our lives and the economy.
These people are economic illiterates but want to micromanage our lives and the economy.
Communist states: They steal the wealth from people who add value and it gets wasted by bureaucrats who add ~0. New wealth isn’t created. Then they are shocked they ran out of other people’s money to steal so they print more. The money becomes worthless. People die.
