What if we taxed the one percent?
What if we taxed them 40% of their entire wealth?
Just for one year.
And what if we taxed all of President Obama’s rich friends 50%? President Obama would invest six million dollars of the 12 million he has made as President.
And that would mean all of the rich cronies would pay approximately ten trillion dollars on the debt.
Now. The ugly side of this would be the economy would collapse. Because to pay the ‘investments’ to the US Treasury they would have to sell their real properties and securities. And there would not be enough money to purchase all of that at market value in one year.
So. While I think President Obama’s idea of making rich people like him suffer, it would not work as well as it sounds.
What do you think?
Should we just tax President Obama and his cronies? Or, all of the one percent?
And the other