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December 17, 2019

Taxing billionaires

Interesting piece in the Guardian, looking at what raising taxes on billionaires could do for the country.

This particular passage stood out:

"We could raise the top 1%'s effective tax rate by as much as 25 percentage points and still leave them with an average annual after-tax income of over $1m. Doing that would generate about $8tn in revenue [over the next 10 years], which is enough to send every household in the bottom 75% a check for nearly $8,500 every year for 10 years."



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