Then we moved on to landlords. The left claims that, if landlords were prohibited, they would have to sell their homes, and housing prices would fall. Therefore, eliminate landlords, and everyone can afford a house.
My reply? OK, that’s the first year. What happens next year when no homes are built because prices are too low to make it profitable to build? This is no different than the “tax all billionaires out of existence, give their money away, and we can all be rich.”
If you taxed every billionaire, just confiscated 100% of their wealth over $1 billion, here is the math:
~900 billionaires, who have a combined net worth of about $8.2 trillion. So we take everything over $999 million. That’s about $7.3 trillion we can distribute. Each person in the US would now get $20,000 plus or minus.
Only now all of those companies are gone- Domino Sugar, Tesla, Facebook, Amazon, Meta, WalMart, Nike, M&M Mars, Hershey Co., Redbull, Keurig, ChikFilA, Subway, Tyson Foods, Archer Daniels Midway, thousands of companies. Essentially all of the large and mid cap businesses will be wiped out. All out of business because they needed to be liquidated to pay for the confiscation.
In all, about 60 million people just lost their jobs as billionaires liquidated to settle their tax bills.
Now what do you do next year?
Taxing billionaires, destroying landlords, killing your economic engine is the equivalent to eating all of your egg laying chickens, making flour out of your seed corn. Sure you eat well today, but your tomorrows will be lean and hungry.
Your leftist is a child-like moron with little concept of economics or money. To them, someone with money is someone to be robbed without regard for what disruptions the robbery will actually cause.
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