
Comment:
Original quote by Congresswoman Pramila Jayapal (D-Washington).
In 2022, the US government deficit–not the national debt, which is vastly greater–was $1.2 trillion.
Seizing ALL the wealth of these three men would produce $454 billion. That would cover one-third of one year’s deficit.
Then, you could never go back to that well in following years because you would already have seized the wealth that generates their income. That income allowed them to accumulate such wealth.
IF you get your wish and seize their wealth, THEN you have to choose what to do with it.
Sell it for revenue? Then other rich people will be the buyers of these goods at fire sale prices. You’ll just make other rich people richer.
OR the US government could operate these corporations to derive the income that now goes to the men who actually created those businesses. Maybe you could have the Post Office run Amazon and NASA run SpaceX? Should turn a tidy profit from that.
Final thing, the Constitution granted the government revenue from tariffs and excise taxes. The Constitution had to be amended to allow an INCOME tax.[1] For a WEALTH tax, the Constitution would again have to be amended.
“Occupy Democrats” doesn’t seem to care about any of these facts. On “Occupy Democrats,” see: Occupy Democrats – Wikipedia
[1] See: Sixteenth Amendment to the United States Constitution – Wikipedia On the issues involved in a “wealth tax,” the following is helpful. Is A Wealth Tax Constitutional? : Planet Money : NPR