National Debt

U.S. Billionaire Wealth Would Fund Government For Just 6 Months

Mocking penis-shaped rockets is no substitute for holding the feds accountable for a looming fiscal crisis.

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Where do Jeff Bezos and Richard Branson get off spending their own money to go into space when we already have a scandal-ridden and incompetent public agency for that very purpose?

All Richard Branson ever did was give away half his fortune after foisting Tubular Bells and the Sex Pistols on the world.

All Jeff Bezos ever did was make a year-long pandemic bearable by creating the company that delivered everything we wanted to our doors within hours.

Maybe Elon Musk is a welfare queen. But as long as he's spending his own doge coin and living in a $50,000 prefab house, who are we to judge?

If Rep. Alexandria Ocasio-Cortez's (D–N.Y.) former policy guy is right that every billionaire is a policy failure, then the remedy is taking the wealth they accumulated and appropriating it for the government, which is really just another name for the things we do together.

Like manning 800 military bases in over 70 countries and spending more on defense than the next 11 nations combined

Or wasting half a century punishing people for recreational drug use and putting more Americans per capita in prison than Cuba, Russia, and China does.

Or passing massive Covid relief bills that only spend 5 percent of their totals on actual Covid relief.

There are 724 American billionaires worth a total of $4.4 trillion, according to Forbes. It's a list that includes far-out space nuts like Bezos and Musk, entertainment moguls like Steven Speilberg and Tyler Perry, and lawyer-in-training Kim Kardashian. If it were somehow possible to liquidate all of that wealth without causing a market crash that would obliterate much of it in the process, we could cover roughly half a year of combined local, state, and federal spending.  

Instead of targeting billionaires and their admittedly penis-shaped rockets, millionaires like Jon Stewart and Jason Alexander, who joined forces for this short video mocking Branson, Bezos, and Musk, should take aim at the federal government, which is the biggest dick in the room by a few orders of magnitude.

Our national debt is around $22 trillion and will continue to climb in the years to come so that by 2050, just paying interest on the debt will account for about a quarter of every dollar the federal government spends. That kind of debt correlates strongly with sharply reduced economic growth, which is the only proven way of improving living standards over time. In the years to come, the U.S. will have no choice but to raise taxes on everyone and slash Medicare and Social Security, which are the biggest budget-busters. But by then it will be too late for a generation of elderly people to plan accordingly. And a U.S. debt crisis could destroy the dollar and undermine our entire economy. 

There's no way to confiscate enough wealth to stave off our looming fiscal catastrophe. Instead of harping on rich people and their rockets, let's start talking about the looming debt crisis fueled by insane government spending and come up with actual ways to avert catastrophe.

Narrated by Nick Gillespie; Edited by John Osterhoudt; Production support from Regan Taylor and Ian Keyser; Additional graphics by Lex Villena

Photo: Cover Images/ZUMAPRESS/Newscom; Mediadrumworld.Com/Omaze/Virgin/ZUMAPRESS/Newscom; JOE SKIPPER/REUTERS/Newscom; Mark Richards/ZUMAPRESS/Newscom; JD Lasica/Flickr/Creative Commons; nrkbeta, CC BY-SA 2.0 via Wikimedia Commons; Jewish Chronicle Heritage Images/Newscom; Matt Petit/ZUMAPRESS/Newscom; ID 166032363 © Featureflash | Dreamstime.com; Blue Orbit

NEXT: Bezos, Branson, and the Billionaire-Funded Race To Make Space a Bargain

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  1. Trump swamp creature co-hort gets $250 million bail:

    (CNN)A federal magistrate judge on Friday ordered Tom Barrack, a longtime associate of former President Donald Trump who was indicted earlier this week on charges of illegal foreign lobbying, released from jail pending trial, freeing him on a bail package that includes a $250 million bond secured by $5 million in cash.

    The judge also ordered Barrack to wear a GPS location monitoring bracelet, barred him from transferring any funds overseas and restricted his travel to parts of Southern California and New York. He will have a curfew to be determined by pretrial services.
    He must appear in federal court in Brooklyn on Monday, where he will be arraigned. A spokesman has said he intends to plead not guilty.

    Trump corruption on full display.

    1. It’s like Brian Stelter keeps coming into the comment section.

      1. Has to distract from Bidens failures somehow. Amazing how FARA was only remembered after Trump got into office.

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    2. Is this as legit as with General Michael Flynn or with Roger Stone?

      These phony political prosecutions are going to bite you guys in the ass on day, Buttplug. But you’re all too arrogant and stupid to understand that.

    3. Yep, leftist trash engaging in political persecution. When your kind push too hard and Americans come to slaughter you, how do you prefer to be executed?

      1. When you and your NAZI party rake over you can execute me any way that humors you.

        Won’t happen though.

        1. turd lies; it’s what he does. Every posting is a lie or otherwise dishonest.
          If turd posts numbers they are either outright lies or cherry-picked such as to be worthless.
          turd lies, always.

        2. We’ve seen Buttplug shill for corporatism, censorship, gun grabbers, abortion, infanticide, speech codes, political reeducation camps, campus antisemitism BDS and kangaroo courts, but somehow everyone else is the Nazi.

    4. turd lies; it’s what he does. Every posting is a lie or otherwise dishonest.
      If turd posts numbers they are either outright lies or cherry-picked such as to be worthless.
      turd lies, always.

    5. You also would have cheered as Mao, Stalin, and Hitler dragged off political opponents on trumped up charges.

  2. All Richard Branson ever did was give away half his fortune after foisting Tubular Bells and the Sex Pistols on the world.

    I know who wrote this without reading the byline.

    1. Sure. But do you know what he was wearing when he wrote it?

      1. Lots of hair product

      2. A Bernie 2024 leotard?

  3. If Rep. Alexandria Ocasio-Cortez’s (D–N.Y.) former policy guy

    AOC has a policy guy?

    1. Yes, one that someone else pays for. The taxpayer.

    2. “AOC has a policy guy?”

      Two of ’em… Karl Marx and Friedrich Engels.

      1. I doubt she’s read the original sources.

        1. I doubt she can read.

    3. Haha. Here in Seattle I believe that our not so revered rep has 14. Well, I don’t know if they’re “guys”. Maybe they don’t either.

      I’m sure she’d tell ya she needs twice that.

  4. FYI, these technical arguments about how much we could fund if we distributed the wealth equally across yadda yadda fall on deaf ears. The point isn’t to create a more effective funding source, the point is to get rid of the billionaires. The point is to assert, as a point of power, that not only can you confiscate and redistribute wealth, but that you will confiscate and redistribute wealth.

    1. Sadly accurate. Next time Bezos rides a dick into space he can fire out a sign that says eat a bag of space cocks.

      1. Don’t worry, Elon Musk will tell them what to do.

    2. It’s a idiotic argument as well. And the funniest part of it is if the ‘People in charge’ did ever manage to re distribute the billionaires wealth in a short amount of time it would end up back where it started. Why? The pandemic has shown a large part of the nation that is more than willing to sit idly by and have things given to them. Give them a lot? They’ll spend it on more crap.
      The problem with government thinking is it is centric on spending. Not investing, not saving for a rainy day, not managing fiscally sound policy, not frugally assessing each opportunity to spend, just spend. Give them more of the billionaires resources and they will spend it right back into the same pockets they purloined it from.
      So will the idiots they gift/grift it to.

      1. It would be easy being a billionaire if all your customers were now millionaires.

    3. I don’t think so. AOC and her minions are effective claiming that these guys had a choice between ending world hunger and taking a joyride to space. This is effective largely because people are completely ignorant of how much government already spends. In truth what Bezos and Branson spent is not even a rounding error on our current welfare spending of 2.6 trillion per year. Pointing how how insignificant this spending is – or alternatively confiscating their entire wealth – compared to current government spending shows people there is no magic pot of money to make their fantasies work.

      1. Responding to this:

        if we distributed the wealth equally across yadda yadda fall on deaf ears.

      2. “…In truth what Bezos and Branson spent is not even a rounding error on our current welfare spending of 2.6 trillion per year…”

        Try getting Queen Asshole. shitstain or turd to recognize that; their grasp of numbers ends at 20, if they take their shoes off.

        1. Try getting Queen Asshole. shitstain or turd to recognize that

          This makes me wonder if you understand who your audience is. Of course you’re never going to convert those who expect to benefit from the corrupt and dysfunctional system they want to implement. It’s like trying to convert Lenin.

          The goal is to attract those who really want to understand how things work and want to improve outcomes for all Americans.

  5. There’s no way to confiscate enough wealth to stave off our looming fiscal catastrophe.

    “Nonetheless, we will confiscate as much wealth as possible.”

  6. “There are 724 American billionaires worth a total of $4.4 trillion, according to Forbes.”

    I guarantee that $4.4 trillion figure will go up substantially as long as Democrats control Congress and the White House.

    #LibertariansForBiden

    1. And I fear that I might become one of them. I was a billionaire in Argentina in the late 80s. Poor, but a billionaire.

      1. Lol, definitely. We’re all going to be trillionaires before this administration leaves office.

        1. Get your wheel barrows now.

          1. They now cost a quadrillion dollars. 🙁

      2. When Biden said he would only hike taxes on people making over 400K, he didn’t mention that his fiscal policies would end up with almost everyone making over 400K.

    2. If Senator Sanders gifts one of his three houses to house more immigrants in a safe, transitory manner will he be recompensed with two additional houses? That would seem fair.
      #millionaireshelpingbillionaires
      #millionairesfeeltheBerntoo

  7. What the hell is wrong with Tubular Bells???

    1. Other than it being the theme from the Exorcist?

  8. It’s not dumb enough that you’d have to sell all the confiscated wealth to turn it into cash, thereby flooding the market and lowering its price; but the only people who could have bought it, even at fire-sale prices, have just had all their wealth confiscated and can no longer buy anything.

    The stupidity and wilful ignorance of AOC and Lizzie and their wealth-jealous cohort is breath taking.

    1. And who would be stupid enough to buy the seized property, knowing that the government seizes property? It would sit unbid on.

      1. Heh. That might be a feature. A proggie fool and his money are soon parted.

      2. The Chinese are expected to buy it. Try getting it back from them now.

    2. Fear mongering on behalf of billionaires is rather pathetic. Ooh golly we have to keep their asset prices propped up. WTF. Be specific. What assets would Jeff Bezos have to sell to pay his wealth tax?

      1. Geez, you are dumb.

      2. You really are as dumb as your reputation. But I’ll spell it out to remove yet another excuse for wilful ignorance.

        Wealth is not cash, it is stocks, property, other illiquid possessions. If you have to pay a 1% wealth tax, you have to convert enough of your wealth to liquid cash to pay the 1% wealth tax. But — everyone else is doing the same thing. Excess supply leads to lowers prices, so everyone has to pony up more wealth to make up for the loss.

        Further, selling requires a buyer. But all the people who could buy that much of the country’s wealth are trying to sell and can’t afford to buy. That forces the price lower also.

        As someone else said, another factor that depresses the pool of potential buyers is the now well-publicized fact that the government is confiscating wealth. Who with half a brain would have any interest in buying stuff that the government will soon demand?

        And why would any government willing to confiscate wealth take actual realized market value as the value of the wealth? You were listed in Forbes as worth $100B, they aren’t going to be satisfied with after-the-fact valuations of half that.

        1. I said be specific. I don’t give a damn about your vague drivel. Jeff Bezos. A 1% wealth tax. What does he sell to pay it?

          1. His Hunter Biden painting.

          2. He sells 1% of his wealth, which isn’t enough because the sale drops the price, so ends up selling 2%, 3%, 5% — who knows?

            This is pretty funny. You really don’t know what “wealth” is, do you? It’s just something rich people stole from you, right?
            Man you are dumb.

          3. The likely answer is – nothing.

            Even if he sold say $2 billion worth of Amazon stock (1% of his wealth), it would have absolutely no effect on Amazon stock price and the trade could close within an hour or two.

            But in fact, he wouldn’t sell unless he wanted to. What he would do instead is tell Amazon to pay dividends. OMG – a company delivering cash profits to shareholders. What a communist idea. But wait – isn’t that what is supposed to happen in capitalism? Why isn’t AMZN paying dividends? Answer – because it’s a tax game. Retained earnings is untaxed as long as it is unrealized – and an earning multiple can be applied to that even if AMZN is retaining so much cash that it cannot even invest it (currently 75 billion). How does every other AMZN shareholder currently receive a return on their investment? THEY have to sell THEIR ownership stake. Which means they have to play the Wall Street roulette game (and get continually clipped) of buy and sell and buy and sell. That no longer needs to happen when billionaires are no longer able to play the tax game. Of course, every shareholder can choose to reinvest their dividends back into Amazon – but they also have choice to find a different CEO/company to invest in without the tax code punishing one choice and subsidizing the other. A ton of other stuff cascades from this. Esp when as you say – every billionaire gets their company to pay dividends

            Once you actually look at specifics it is quite easy to see how it is the EXISTING system that is distorted. Even if the purpose here is tax reform rather than a wealth tax – THAT is why the wealth tax is being opposed. Because transparency about the existing system is the last fucking thing the 0.1% want. They want your dumb ass drivel.

            1. “The likely answer is – nothing…”

              The answer is two-fold:
              1) You’re a lying piece of lefty shit who ignorance is clearly evident.
              2) None of your fucking business, asshole.

            2. Retained earnings is untaxed as long as it is unrealized.
              Expose more of your ignorance. It’s funny.

            3. This is amazing.

              Are you drunk?

          4. “A 1% wealth tax. What does he sell to pay it?”

            Your ass, you pathetic piece of lefty shit.

        2. “You really are as dumb as your reputation…”

          You’re too kind.
          JFree’s rep is improved by those who imagine his arm-waving bullshit MUST have a grain of truth rather than being total ans complete arm-waving bullshit.

    3. It isn’t ignorance. They know what they’re attempting to do and it’s all about greed and getting their cut.

  9. How much of the countries financial wealth is sitting in the California pension system (CALPERS) and the Harvard endowment?

    I think it’s high time we discuss a “Cadillac” pension tax to recover the government funds that are going to former government employees in obscene quantities.

  10. All Jeff Bezos ever did was make a year-long pandemic bearable by creating the company that delivered everything we wanted to our doors within hours.

    All Jeff Bezos ever did was to promote lockdowns and support the politicians who keep business closed and keep us locked up so that he could massively grow his business, destroy the competition, and make tons more money.

    1. More of an unintended consequence for JB. The lockdown was clearly to instill fear and drive the economy into the toilet.
      Part Deaux is in the works now as a precursor to 2022

  11. Instead of targeting billionaires and their admittedly penis-shaped rockets, millionaires like Jon Stewart and Jason Alexander, who joined forces for this short video mocking Branson, Bezos, and Musk, should take aim…

    Stewart and Alexander shouldn’t join forces to produce anything if it’s as awful as that video. Bloody fucking horrible.

    1. I remember a Jim Carrey cowboy-hatted musical ‘spoof’ on those who own guns; yeeeech.

  12. I thought all the Cons hated ‘woke capital’ now?

    1. This is bait…

      1. Good Lord, some weirdo is so sad he created a parody account of me? Lol!

        1. You deserve to be shat upon, rather than mocked.

        2. Abusing the mentally retarded is generally frowned upon yet someone did it. My condolences.

    2. Maybe can decry what people do without seeking to destroy them and the rest of society?

      The fact that such an attitude confuses you says a lot about you.

  13. Mocking penis-shaped rockets is no substitute for holding the feds accountable for a looming fiscal crisis.

    Why not both?

    1. Actually you can mock both…when the penis-shaped rocket is part of that looming crisis.

    2. …Johnson! get me that report….

  14. Megan Fox and Mister T are billionaires?

    1. Naah. You’re full of shit.

  15. This article’s titular claim isn’t even close to being true.

    You can’t liquidate $100B in paper equity in a big business and come up with $100B in cash. You’d have far, far less. The equity’s valuation is based on the expectation of future earnings from the business, and those future earnings evaporate if the business is liquidated. Even if the ownership were merely transferred, the future earnings don’t exist to be spent today.

    1. Yeah, when AOC proposes ‘wealth taxes’, she’s stupid enough to imagine she or anyone else can determine the amount of ‘wealth’ owned by these folks.

    2. The fact is that there isn’t money to pay for democrat spending. What they want to do will destroy the country and is therefore treason. They should be dealt with accordingly.

    3. To delve into the full depths of AOC’s colossal ignorance requires a sub that can handle abyssal pressures. Most are not equipped for it.

    4. You can’t liquidate $100B in paper equity in a big business and come up with $100B in cash.

      They don’t want the cash, they want to control the company.

      1. Or use the threat of confiscation to control the billionaires.

  16. Tell you what, I will compromise with AOC. We can outlaw both billionaires and anyone with a net worth less than, say, $100,000. And if she will not go along with expelling them all from the USA, then at least banish them internally, i.e. stripped of citizenship and no voting rights.

  17. “Instead of targeting billionaires and their admittedly penis-shaped rockets, millionaires like Jon Stewart and Jason Alexander, who joined forces for this short video mocking Branson, Bezos, and Musk, should take aim at the federal government, which is the biggest dick in the room by a few orders of magnitude.”

    — George Carlin’s ghost

  18. Where do Jeff Bezos and Richard Branson get off spending their own money.

    They didn’t. Next question.

    1. They did. Next answer.

      1. The Encogitationer has turned out to be the be the most recent advocate of the politics of envy.
        Not yet muted any of the assholes, and this one isn’t close to the top of the heap, but s/he’s pretty fucking stupid.

        1. Reference my comments on envy below, you pitiful thing.

          1. In your case, “envy” is spelled B-U-L-L–S-H-I-T, bullshitter.

  19. All Richard Branson ever did was give away half his fortune after foisting Tubular Bells and the Sex Pistols on the world.

    He could have sold off his record company or some of his 300 enterprises instead of hitting up UK taxpayers to bail out his airline.

    1. Why the fuck you do that if you were in his position? Individuals are usually rational.

      1. A rational individual with 300 enterprises and a personal net worth beyond the $Billion mark who wanted to be unbeholden to anybody or anything wouldn’t need or want a bailout.

        1. A stupid shit like you should really STFU.

    2. Yeah, and as a promoter of the politics of envy, you’ve been pitching that line of bullshit for several days.
      Care to tell us, oh assholic ignoramus, what sort of deal Branson cut with the Brit government has any importance at all regarding this issue?
      Didn’t think so; fuck off and die.

      1. I envy no one and no thing. Envy is hating the good for being good and I don’t regard government bailouts and subsidies for anyone, let alone big-pants people billionaires, as good.

        And the relevance of Branson’s bailout is this: the impoverished U.K. taxpayers may be hitting us up for their own subsidies and bailouts one day as a result. It’s all of a single piece.

        Sevo, you were once a bright mind years ago on this Forum. But you’ve been wrestling with trolls so long, you’ve got the stench of them in your nostrils and it’s blocked the Oxygen to your brain. You’ve became one of the monsters you despise. I pity you.

        1. “…And the relevance of Branson’s bailout is this: the impoverished U.K. taxpayers may be hitting us up for their own subsidies and bailouts one day as a result. It’s all of a single piece…”

          As a pathetic piece of shit, do you really want to admit your claims are based on such horseshit?
          I have no idea who you are, nor, as you’ve obviously changed handles, what views you formerly held, but peddling the bullshit you’re offering now says you are quite pleased with the politics of envy.
          Still waiting for an answer to this regarding Bezos:
          “Are you a fucking lefty piece of shit, or just trying to look like one?
          Got a cite for that bullshit claim? I’m sure you don’t”

        2. BTW, assohilic piece of shit, it seems you’ve yet to answer one question posed to you. Might that be a result of you being:
          Full.
          Of.
          Shit?

  20. All Jeff Bezos ever did was make a year-long pandemic bearable by creating the company that delivered everything we wanted to our doors within hours.

    And bum $10 Billion from the Feds alone.

    1. “And bum $10 Billion from the Feds alone.”

      Are you a fucking lefty piece of shit, or just trying to look like one?
      Got a cite for that bullshit claim? I’m sure you don’t
      Fuck off and die, asshole.

    2. Biden is spending 10 billion dollars every 14.6 hours.

  21. Maybe Elon Musk is a welfare queen. But as long as he’s spending his own doge coin and living in a $50,000 prefab house, who are we to judge?

    I’m not a Welfare Queen and I make less than 1/10,000th of what he makes!
    Soooo…”Here Come D Judge! Here Come De Judge!…”

    Nick Gillespie and John Osterhoudt did an absolute crap piece here! Stick with Post-Modern intellectual navel-gazing! And I bet The Jacket is Pleather too!

    1. Hint, asshole:
      You.
      Are.
      Full.
      Of.
      Shit.

      1. Took you long enoigh to compose that one. Like I haven’t seen that one before.

        1. Keep up bullshitting and you see it often, asshole.

          1. Hmmm, seems the bullshitter now using the handle “The Encogitationer”, like turd, sarc, jeff and Tony can’t quite find a way to answer simple questions.
            Perhaps that’s a result of The Encogitationer being a promoter of the politics of envy and bullshitting piece of shit?
            If the bullshitter has evidence suggesting otherwise, it’s yet to be seen, which suggests certain assumptions…

  22. Where do they get off? From the launchpad.

  23. The U.S. Government is controlling(debting/spending) almost $66K/yr per working citizen this year. According to the SSA the average wage per citizen is $52K/yr.

    That control is being maintained by the point of Gov-Gun threats and it is currently supplying …. wait for it… NOTHING AT ALL.

    The USA isn’t even in a massive war defending itself. Which is the #1 purpose of having a “union” of states government.

    Let’s face the facts here; this isn’t the USA anymore. It is a Nazi-Democracy. A single ‘Powerhouse’ of government over all citizens. An elected autocratic monarchy who is currently not only spending every single labor/dollar getting earned but also charging labor/dollars on credit…

    This is not going to turn out well if it’s allowed to continue.

    1. So, looting the rich and the upper middle class is making up that difference, together with fleecing the suckers who buy US government bonds.

      -jcr

      1. Consider it a doomsday device.

      2. It’s mostly money printing. And it makes bankers and people who hold us securities and real estate fabulously wealthy, at the cost of everybody else.

    2. And yet: you keep calling for an end to income inequality.

      That’s the problem in the US today: even the purported enemies of socialism act like socialists.

      1. *earned* income or Gun-Theft *stolen* income
        – is the baseline being dismissed by socialists.

        It’s really an obvious difference;
        Those who believe using Gov-Guns to *steal* more = wealth.
        And those who believe *earning*/producing for others = wealth.

  24. I hope you writing the article more like this.. this is really helpful for me Trading or Brokerage Account

  25. “If it were somehow possible to liquidate all of that wealth without causing a market crash that would obliterate much of it in the process, we could cover roughly half a year of combined local, state, and federal spending. ”

    Just take it from them anyway. In the name of equity. Then, for the next six months’ funding, you could take all the money from the next tiered wealthiest. And so on and so on, until everyone is equally poor.

    Then we have true equity!

  26. Ah, but this is where Magical Monetary Theory comes in!

    1. Theory simplified – Way’s to deceitfully steal the peoples *earned* wealth without anyone noticing the armed theft occurring.

  27. How about we don’t fund government for six months instead. Then we take a vote to see if we want to open it again,

    1. Trump recommended a ‘tax holiday’ as opposed to the ‘stimulus’ payments, but Pelosi et all were appalled at the thought of letting people keep there money as opposed to first giving it to the gov’t for its baksheesh before giving it back to favored groups:
      https://www.cnet.com/personal-finance/your-money/trumps-payroll-tax-holiday-being-rejected-by-many-employers/

      You’ll note that there is no reason given for the supposed rejection by the employers, while the rejection by political actors and entities is easy to understand.
      Reason never got behind it and TDS-addled assholes like Brandy, M4e, sarc, Tony and turd *HATED* it.
      TDS is still doing that to people, right Brandy?

  28. Everything they have proposed in terms of taxing the rich vs their spending wants have shown that if they got EVERYTHING they want from the rich (and they wouldn’t), they would only have paid for <20% of the spending.

    This is a distraction. They know hating on billionaires is popular, but this is not the end goal. They have a lot of money, but nowhere near the collective money they can get from taxing the middle class. And they will.

    Looking forward to all the happy GND, climate change, and medicare-for-all obsessed people screaming at the top of their lungs the second their tax rates go up. Money is always easy to spend when its not yours.

    1. What happens when the billionaires are on the same side as the socialists?

      1. Crony Socialism?? That was a trick question right?

        Ironically there isn’t a single socialist or communist nation that has ‘equality’ but they ALL have a proven record of the worse inequality ever seen. Just look at the wealth disparity in China; it’s makes the USA look like the most ‘equal’ nation on the earth.

        Delusional Democrats don’t give one sh*t about ‘equality’ it’s just another cliche phrase used to *STEAL* and *ENSLAVE* people’s labor as they been doing since there very beginning of the party-of-slavery. The civil war they lost finally made ‘owning’ people a massively recognized negative so now they work behind curtains of deception; but the goal-post is EXACTLY the same.

        1. The only political movement that achieves equality is socialism. And it achieves equality by making everybody poor (except the party leaders). That’s what you want isn’t it?

          1. True ‘equality’ is when everyone’s supply value is spot judged by everyone of demand WITHOUT the use of Gov-Guns (i.e. Socialism).

            Or in simplified terms, “put your money (i.e. Labor) where your mouth is.” instead of spending “social” pressure to trying and cash-in on other people’s labor by running one’s mouth constantly.

            1. You’re playing word games with [legal] inequality and [income] inequality.

              If you want to actually promote liberty and legal equality, you need to get better at saying what you mean. Right now, you just sound unhinged and raving.

      2. We call that variant of socialism “fascism”.

  29. Take it. Every dollar. Until they learn the meaning of the rhetoric they spew.

    1. Might I suggest cutting out the Crony Socialism that ‘pays’ them along the way. Taking $1 and giving $5 isn’t really a learned lesson.

      Many of the richest in the USA today are either directly government contracted (tax-payer funded) or run a Gov-Gun-Forced “regulated” monopoly in providing resources. Both are “Crony Socialism” at work.

      The *ONLY* way to be-rid the USA of wealth inequality is to get the Gov-Guns out of the economy. So your neighbor is a Millionaire… How did he become a Millionaire and what exactly is stopping you from ****EARNING**** some of that??? 99% of the time the answer is Gov-Gun-Forced Crony Socialism at work. Otherwise; YOU would definitely start taking some of that *earned* money.

      1. 1. Yes, many people are corrupting the system and becoming wealthier due to corrupt government policies. Many other people are not.

        2. Millionaire doesn’t mean much today. If you are a middle class retiree who saved during his lifetime, you will be a millionaire upon retirement.

        3. The only way to get rid of wealth inequality is to make all Americans dirt poor. Of course, maybe that’s what idiots like you deserve.

        1. Interesting how you call me an idiot while paraphrasing exactly what I’ve been stating. Who pee’d in your cheerio’s today?

          1. I’m not “paraphrasing” you; you think I’m paraphrasing you because you fail to understand what you are talking about:

            1. You failed to acknowledge the existence of large numbers of people who became wealthy through their economic contributions. The ultra-wealthy crony capitalists are a small subset of the wealthy in America.

            2. You think that 99% of millionaires made their wealth through “Crony Socialism”, which is factually false; most middle class Americans will become millionaires as they near retirement.

            3. You want to be “rid of wealth inequality”. In fact, a fully free market nation would likely have more wealth inequality than we have now, but at the same time even poor people would be better off economically than they are now.

            1. #1 — Not really; why I highlighted the term *earned*.
              #2 — RU really going to pretend the Government dolling out $24T USD’s didn’t artificially create any ‘Millionaires’?
              #3 — Factually False; Evidence within every single Non-Free Market Nation (i.e. China and the CCP) shows far more ‘wealth inequality’ than the USA.

              Well lets consider this term “crony capitalists”
              Crony – a close friend who accompanies his buddies in their activities
              Capitalism – an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.

              So the correct definition of “Crony Capitalism” would be “Private Decisions” to accompany buddies in a “Competitive Free Market”. The term has ZERO to do with governments guns.

              However; on the other hand “Crony Socialism” would be Gov-Gun-Forces accompanying buddy business with Gov-Gun *enforced* Regulated Market.

              Definitions that run contrary to popular indoctrination.

              I don’t have any qualms with your premise though; these are but minor disagreements.

              Actually; I don’t want to “rid wealth inequality” and want Wealth to be correctly determined by Value instead of Gov-Guns.

  30. Bill Whittle did a good job of covering this a couple of years back:

    https://www.youtube.com/watch?v=661pi6K-8WQ

    The USA doesn’t have a revenue problem, we have a spending problem. Cutting the federal government back to its constitutionally authorized activities would save the taxpayers at least 2/3 of what we spend now.

    -jcr

    1. I was just going to say “Only 2/3rds” that must of been written years ago… Oh yep; Published in 2011.

      Quick 2021 Budget Review — Income $3.6T, Expenses $7.25T
      Defense $735B (2021 it is 1/10th). If the USA did only National Defense … It’s #1 Constitutional Authority and the very reason for having a “union” of states that cost would be 1/10th the budget they’re currently spending.

      https://www.govinfo.gov/content/pkg/BUDGET-2022-BUD/pdf/BUDGET-2022-BUD.pdf

      $60K/yr pay-stub?
      2-Week Check Stub – Earned $2500, Taxes $825, Pay $1675
      Constitutional Stub – Earned $2500, Taxes $250, Pay $2250

      For the Entire year?
      Today’s Fed theft $19,800

  31. Libertarians: don’t knock it. It may not fund the government for long, but if Bezos, Soros, and Jobs can’t fund radical left wing causes and if the Koch brothers can’t fund Reason anymore, that gives libertarianism a fighting chance.

    1. lol… So; Instead of having Bezos, Soros and Jobs willingly fund the government they should be forced to fund the Nazi-Regime?? And that’s better how?

  32. But they’ll keep making more money and stuff, right? Right????

  33. There is no doubt that merely applying all billionaires’ wealth to the debt would not solve any problems. What the AOC staffer likely meant, and my view is that we may need to look at policies that favor billionaires over a broader distribution of wealth. There is no country in which capitalism is practiced without some rules. I think we may be at a point where it again is useful to look at and adjust the rules to optimism a broad distribution of wealth rather than narrower distributions going to fewer people. As an example, a few weeks back John Stoffel’s column addressed how some businesses use regulations to stop competition. Should we confiscate wealth no, but should we expect people to pay their share, yes.

    1. Those “some rules” being rules against the very FRAUD the Nazi-Laws are committing and failing. Lobbying for [WE] gang Gov-Gun-Forces to go *steal* by armed robbery is never going to result in a civil ‘fair’ society.

      We don’t have to guess; There’s a foundation – a U.S. Constitution that addresses all of this. It’s the “Supreme Law” over governing for the ‘Feds’. Today’s failure of governing is the very result of the government IGNORING and breaking that Supreme Law.

    2. There’ll be committees and experts on everything. And they’ll figure everything out. And the wise and benevolent politicians and bureaucrats will implement exactly what they say on everything, just so. And it’ll be a perfect world. Or maybe we could just put you in charge?

      1. So better to let the rich buy politicians with their campaign contributions and have them set the rules? Neither way is perfect and sometimes we need to find the way to a middle ground.

        1. “find the way to a middle ground” — LIMIT the POWER of the ‘rulers’.
          “We the Peoples” Supreme Law must be upheld.

  34. Spending is an addiction and Democrats and RHINOs have no interest in getting sober.

    1. Cutting spending is hard work and we have a lazy Congress.

    2. Whereas one buys the world’s largest yacht out of rational, sober-minded market calculations.

      1. If you have the money who cares?

        1. If one guy amassed an army and took over the world, declared the entire planet his property, and then put up a constitution that said you have a right to freely use your property as you see fit, would you consider that an enlightened liberal marketplace? It’s his property! The law says so!

          1. The Nazi’s tried to… All part of the Conquer and Consume mentality. There ‘plan’ failed and left but poverty in it’s place as did countless other attempts (why you have to use a “what if” scenario).

            The only one’s doing that here in the USA are the National Socialists who compulsively tries to ‘amass an army’ and take over the USA by environmentalism, racism, sexism “excuses”… Note the 1976 FLPMA Act which destroyed the Homestead Act and ‘amassed an army’ to take 58% of the entire USA land reserved for it’s future citizens..

            1. Passed in a House and Senate Democrat Majority.
              Written by Democrats Haskell, Floyd and Melcher.

              As is practically *ALL* Nazi Conquer and Consume Acts that violate the People’s Law.

      2. I thought people like you want to “stimulate spending” and “avoid liquidity traps” and “stimulate the economy”!

  35. So until the day comes when we could meaningfully affect the federal budget with taxation on the wealthy, we just shouldn’t bother caring that the richest 25 people pay effectively $0 in taxes. Nothing to see here. We can’t solve literally all the world’s problems with this policy, so there’s no good that can come out of it at all.

    For a magazine called Desperate Plutocratic Servility… or whatever.

    1. You know that the real reason for taxing people into oblivion has nothing to do with the budget. Just admit the truth.

      1. We tax things into oblivion we want to get rid of. It’s the peaceful method modern societies have of incentivizing and disincentivizing behavior. If we as a democratic society think there should be food for the poor, even at the cost of all billionaire fortunes, that’s called freedom.

        1. lmao…
          Tax those who produce human resources to disincentivize that behavior.
          Subsidize those who add no value to society to incentivize that behavior.

          That’s [WE] mob Gov-Gun-Toting Criminals “freedom”….

          And sitting at the end of your pipe-dream; where you gonna live and what in and exactly what are you going to eat after you’ve *stolen* all incentive to produce human resources???

          Think the Gov-Gods will legislate the “raining” of resources?

        2. Lesson #2; The “peaceful” method modern societies have to incentivize good behavior and disincentivize bad behavior is a justice system and laws that stand for Individual Liberty and Justice and violators will be imprisoned or fined.

          *NOT* Toting Gov-Gun-Forces to go STEAL from those who have added the most Value to society yet didn’t violate anyone’s Liberty or Justice.

    2. So until the day comes when we could meaningfully affect the federal budget with taxation on the wealthy, we just shouldn’t bother caring that the richest 25 people pay effectively $0 in taxes.

      The richest Americans pay about 23% in taxes on their income; they pay less than income tax rates because those are capital gains.

      What we should worry about is the fact that more than half of Americans are effectively paying no income taxes.

      What we should worry about is that the Biden administration and Democrats want to play a 50% tax burden on the upper middle class.

      You want a fair tax system? Let’s adopt a flat 25% tax for income and capital gains, with a $10000 standard deduction per family member, payable by everybody, no charitable deductions, no other deductions, no EIC, etc. Easy to administer and fair.

      1. I’m with you in spirit. Not entirely facetiously, the complexity of our taxes is owed to business ventures that make money from that complexity.

        I think an industry that exists to help zillionaires evade taxes most efficiently is probably an industry that doesn’t need to exist, don’t you agree? It’s entirely created by government policy, after all.

      2. Amen to the “no deductions” idea.

        If a business is turning over $1B and making $0.10 profit it’s not a self-sustaining value to society with the added public ‘defense’ department.

        How Crony Socialism strikes AGAIN! Someone should run the numbers and see what the tax rate would be without any deductions. Taxes Revenue – maybe not perfect but better than the ‘My Business (lifestyle) has a yacht, new trucks, pool, etc, etc,, all ‘tax deductible'”.

  36. I just b0ught a brand new BMW after having made $6375 this past one month and just 0ver 12k last 5 week. This is the best and most financially rewarding job I’ve ever had. I actually started this few Weeks ag0 and almost immediately started to bring home minimum 74BUCKS p/h… http://bucks2.com/ ●☚

  37. Pretty wild that Reason and its supposed free market staff will argue that the government subsidizing companies is totally compatible with capitalism as long as the government gives those companies enough money for their CEOs to go to space while the workers are broke living in cars on the government dole.

  38. The richest Americans pay about 23% in taxes on their income; they pay less than income tax rates because those are capital gains. Interior Door Austin

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