Reply #48: We need far more than that

[DissedByBush]

All millionaires and billionaires in the country combined have assets of 12 trillion.

This includes small businesspeople and farmers whose business assets (buildings, farmland, tractors, tools, etc.), plus their house, plus their retirement savings is over $1 million in value.

People with a million in liquid assets probably have a far lower combined value than that.

But if you confiscated EVERYTHING right now we still couldn't even pay off the national debt, and we'd still have the same deficit.

Smart taxing needs to be combined with less waste all around or else we'll eventually be in exactly the same position in the future.