Posted 1 year ago on Sept. 6, 2012, 7:47 p.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
To do good arithmetic you need honest numbers. The census bureau and bls are a good place to start. The Levy institute will show that the net worth [equity and property free and clear] of all Americans is over 50 Trillion. It was 48T in 2004 and 1% of the people owned more than a third on it. The next 9% had more than 17T. $10.94 trillion was in excess of the first $5M each owned by top 0.999% of American Households. So if we had taxed all Americans (“rich and poor alike, every single penny”) for 100% of their property and everyone got the same $5 Million deduction, we'd have raised $10.94 T when the debt was quite a bit lower than the $15T it is today. And the rich assholes would still have $5M each. Ask Paul Ryan to back up his numbers.
“Working Paper No. 502” Edward N. Wolff, 2004 www.levyinstitute.org/pubs/wp_502.pdf
Read more facts: “How Does That Work?” https://www.createspace.com/3852916