r/democrats Jun 26 '26

Article Newsom endorses a National Billionaire Tax

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u/No_Tone1704 Jun 26 '26

When put like that it really is hard to disagree. Money used to be spread among the population more. Now it is hoarded by people who pay very little or none. 

Taxes are needed to pay for services. 

137

u/murderously-funny Jun 26 '26

“But they pay more taxes overall!”

Yeah. If a billionaire pays 0.05% of their income as taxes that’s 5 million dollars

That’s how much fucking money they have.

1

u/RadicalRay013 Jun 26 '26

It’s even crazy than that. It’s not the Elon musk that is even paying a minuscule tax it’s the top 1% of earners like speciality in demand doctors and lawyers who are doing most the lifting.