Posted 5 years ago on Dec. 31, 2012, 2:48 p.m. EST by VQkag2
This content is user submitted and not an official statement
"We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both." — Louis Brandeis
It's time we outlaw billionaires by placing a 100% tax on wealth over $999,999,999.
Since 1980, the top 1% has taken 80% of all new wealth created.
The richest 400 Americans -- all of whom are billionaires -- own more wealth than the bottom 150 million Americans combined.
We work harder. Productivity is up. But the profits are taken by the billionaires, who buy politicians and legislate rules to the ever greater advantage of billionaires -- and to the disadvantage of clean air, food, water, security, healthcare, education, retirement, and energy.
A 94% top marginal income tax rate when this nation was prospering has been reduced to 35% today. It's time we learned our lesson, reversed these trends, and banned billionaires.
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