Reacto
Reacto1/1/2026

Why do people believe that taxing billionaires more is suddenly going to fix all of our problems? In 2025, the federal government spent $1.8 TRILLION more than they made in tax revenue. If we instituted a 100% wealth tax and confiscated all the stock holdings of Elon Musk, Larry Page, Jeff Bezos, Sergey Brin, Larry Ellison, and Mark Zuckerberg you would be able to balance the budget… for one year. What are you going to do the year after that? Assuming a 5% wealth tax per year, taxing those 6 billionaires would raise $94 billion. That means the deficit would be $1.7 trillion instead of $1.8 trillion. Meanwhile all those guys lose control of their companies. What exactly does that solve? We can’t tax our way out of this situation. Cracking down on waste, fraud, and abuse is essential.

Why do people believe that taxing billionaires more is suddenly going to fix all of our problems? In 2025, the federal government spent $1.8 TRILLION more than they made in tax revenue. If we instituted a 100% wealth tax and confiscated all the stock holdings of Elon Musk, Larry Page, Jeff Bezos, Sergey Brin, Larry Ellison, and Mark Zuckerberg you would be able to balance the budget… for one year. What are you going to do the year after that? Assuming a 5% wealth tax per year, taxing those 6 billionaires would raise $94 billion. That means the deficit would be $1.7 trillion instead of $1.8 trillion. Meanwhile all those guys lose control of their companies. What exactly does that solve? We can’t tax our way out of this situation. Cracking down on waste, fraud, and abuse is essential.
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