There are very few of them, and yet they control the vast majority of the country's wealth. The top 1% owns 55% of all the valuable assets in the United States. The top 10% owns 85% of all valuable assets. Most of the remaining 15% of assets are owned by pension funds and small-time landlords.
Just by taxing that top 10% (roughly people who earn over 200k/yr), the government would get access to 85% of all the nation's wealth.
That’s exactly my point. It’s not the billionaires who own most of the wealth, but the top 10% which includes people making over $200k per year. There are LOTS of those folks. That’s where the bill of the wealth is.
Just by taxing that top 10% (roughly people who earn over 200k/yr), the government would get access to 85% of all the nation's wealth.