Since we know people shouldn’t have to work to pay for health insurance and who knows what else is on the wish list, I think it’s time to face reality and simply give up on all this work stuff. Let’s face it, inequality is bad so what better way to solve the problem than to bring those millionaires down to size. I have it, let’s tax them at 100%. That should make a lot of people feel good. After all, we have lots of programs now that encourage people not to earn more, health insurance is just the latest.
Let’s see how this can work. I checked the IRS records for 2011 and there were 300,890 returns filed for $1,000,000 or more. Far less than the top 1% by the way. The total income for the group was $951,854,386,000 (that’s billions). In other words nearly one trillion dollars. That’s a lot of money to be sure.
Just think what we could do with all that money. What indeed, actually we could cover what the federal government spends for 95 days and that includes what the government spends with money it doesn’t have.
I’m thinking; my strategy might work the first year, but will these folks be motivated to work at all the second year? 😆. No matter, they would be better off on welfare where in many states their family could receive a tax-free income equivalent to what the average American household earns each year.
Seems like a fair plan, right? Did I forget anything? Oh right, where is the money coming from to pay their welfare benefits? Silly me, the government doesn’t actually need the money to pay people benefits‼️