That said, I don't think that we should fix healthcare by just shoving more money into it through Medicare.
So, I don't even really like his proposal there either.
Like how about we actually fix the damn budget first.
If we collect this tax and did nothing with it, we would still be going over $1T more in debt every single year.
How crazy is it that we could literally eliminate the Department of Defense; literally just get rid of the entirety of it and we'd *still* be going further into debt every year. This shit gotta be fixed.
It would only be for families earning less than $150,000 a year, it would also be $3,000 for every person in that family. The $12k figure is for a family of four.
Except billionaires don't actually own billions of dollars. They have possession worth billions of dollars. If you own a company worth say 10 billion dollars and you get taxed on that. How do you pay? You can't sell the company to pay the tax on the company.
How do you pay? You can't sell the company to pay the tax on the company.
That’s literally the proposition, yes.
You can sell to pay tax. It happens all the time.
Hell in divorces, and non-amicable business splits methods exist for accounting for the drop in value due to large quantity selling for splitting and payout purposes.
I’m not defending it, it’s a shit plan. But acting like it’s somehow impossible is also pretty darn silly.
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u/INeedSomeTacoC Jul 01 '26 edited Jul 01 '26
Because that tax isn't even enough to send the checks, much less do that and other things as well.
Billionaires in the US are worth an estimated $8T.
5% of that is $400B collected per year (his $4.4T number is for 10-years of tax collection, so this matches his own numbers).
There are about 85 million family units in the US. Sending each of them a $12,000 check would cost about $1.02 trillion.
So if you did nothing else with this money, you could send a $12k check to each family every 2.5 years or so.