Wealth & Poverty
Rising Democratic star James Talarico claims that “we should tax trillionaires out of existence” because the “rich” are the “reason poverty exists in the wealthiest country on earth.”
IN FACT, one of the major reasons why poor and middle-income Americans are richer than their counterparts in every other nation of the world is because wealthy Americans invest in enterprises that increase productivity. Furthermore, the combined net worth of all 902 billionaires in the U.S. is $6.8 trillion, which is only enough to fund the federal government for one year or pay 18% of the national debt.
