It wouldn't be as problematic if that money was circulating, but:
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$4 Trillion In US Wealth Is Stashed Overseas, Much Of It In Tax Havens
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Which is two thirds the annual budget of the United States.
Yes. It's tempting to hop on the religious tax-exempt status fist-shaking train, but for now I think I'll stick with the insanely-out-of-whack wealth distribution fist-shaking train.
In response to this thread, my husband and I were talking about inventing a tempting new political offering to get young people and low-wage workers to the polls. Here's what we came up with:
Low-wage workers pay zero income tax.
(Of course, we can tax the hell out of the super wealthy, too, but the piece d'resistance is the zero income tax rate for low-wage workers.)
"Children should not know fear, or death, or suffering, for it is not their lot to know. Theirs is a time for joy, and wonder, and a time of great discovery. Let them never despair, or hurt, or want. This should be our highest calling, and our most sincere dedication."
SearingTruth
well of course they are the problem!! that $100 a month she's getting in food stamps could be a rich person's $2 tax break!!!!
@CharlieKruse Whilst I agree with the sentiment, the metric is more complicated than it seems, and not the best choice.
For example, at one point a *lot* of people with a house had negative equity. A lot of people without one, have more debt on a credit card than they have in the bank, it's what credit cards are for!
Add up all of those people and it is even more negative. You can say that just one homeless person on the street, with nothing, has more wealth than billions of people added up.
Funny how a family of rich people are the reason many of those single mom's are on food stamps!
The Walton family of Walmart is worth about $245.5 Billion.
But hey they actually help their employees get food stamps because they don't pay enough to live on!!!
True story, instead of paying a 40 hour per week employee a living wage their HR departments teach employees how to get food stamps & welfare!