So? People are starving to death in the US and so many are homeless. Because a bunch of Bay Area retirees are millionaires doesn’t mean we shouldn’t wealth tax them. For every dollar over median wealth they should face a 10% wealth tax so that we can fund universal healthcare. There are many studies that show healthcare is more important than wealthcare.
> For every dollar over median wealth they should face a 10% wealth tax so that we can fund universal healthcare.
A ten percent wealth tax would put most investment returns into the red. Savings and investment would plummet. Capital would flee the US, interest rates would skyrocket, the US dollar would become worthless, the housing market would collapse. You wouldn’t be able to fund roads, let alone universal healthcare.
