General Discussion
In reply to the discussion: I certainly didn't think my retirement years would be like this [View all]pat_k
(13,884 posts)A start: One time graduated levy on assets with these targets
20% on assets in excess of 500 million.
From 15% to 20% on assets from 200 - 500 million
From 10% and 15% on assets from 50 million to 200 million
From 5% to 10% on assets from 10 million to 50 million
I've pulled these numbers out of my ass, but I have no doubt such a one time levy would make a decent start.
Since 1981 the corrupt Republican project has transferred more than 50 trillion from the bottom 90% to the top 1 %.
Time to for the beneficiaries to start contributing their fair share. Without a strong public sector they would never have earned what they have earned. They have hoarded a lion's share of our collective resources long enough.
Not even running through what the lower rates would generate,
A one-time 20% levy on net assets exceeding $500 million would generate an estimated $500 billion to $1 trillion in federal revenue.
A one-time levy of 15% on the assets of individuals in the $200 million to $500 million range is estimated to raise roughly $150 billion to $200 billion nationally, depending on the exact number of households and assuming a 15% tax avoidance rate.