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View Diary: Over the cliff I go. Not laughing. (159 comments)

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  •  Actually, it would. (7+ / 0-)

    The total household wealth in the US is somewhere between 50 and 60 trillion dollars. The top 1% own 35%-40% of it. so over 20 trillion dollars. That would actually pay off the entire national debt.

    Not that I'm advocating doing so. but I'm not not advocating it :)

    The top 20% own 80% of the household wealth. So yeah, there is a problem. It is actually the core problem of the economy, and probably the political system. Progressive Taxation can fix it. It is a money pump that keeps the economy flowing, as it did for the greatest period of American power.

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