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24 points

I haven’t looked at any numbers, but surely if we taxed billionaires enough to turn them back into millionaires, we’d probably not have to tax anyone else at all.

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17 points

The combined wealth of the ~750 US billionaires at the end of 2023 was about $5.2T. Total individual federal income tax revenue in 2023 was $2.2T.

So it seems non-billionaires could go federal tax free for 2 full years.

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