wealth tax
so i calculated what people pay in taxes as a percentage of their net worth. the us households at the bottom have a net worth of $0. their wealth tax percentage is 100%. everything they "save" (ie not spent on living expenses) goes to the government. the us household in the middle has a net worth of about $100k. and they pay about 14% per year in wealth taxes. ouch! the top 1% has a net worth of about $1m and pays about 8% wealth tax. those with net worth about $10m pay about 2% wealth tax. the super rich have a net worth in the billions and pay about 0.01% wealth taxes. no that's not a typo. warren buffett has a net worth in the $50 billion range. billion with a b. and pays taxes less than $10 million. that's million with an m. warren buffett's wealth tax rate is so inconceivably low, we could raise it by 100x and he'd barely notice. right now, his wealth doubles every 5 years. if we raised his wealth tax by 100x to a measly 1%, his wealth would double every 5 years and 4 months. absolutely crushing, i know. i'm a cruel man to even contemplate such a thing. sheehs. the intention of the founding fathers of both the constitution and the bible was that people would pay for the common good according to their means. the system in place, clearly does not do that. anyone who says the rich are paying their fair share of the tax burden, is an idiot.