Ban Billionaires Petition (Next Up, Ban Millionaires, then, $250,000-aires, then $100,000-aires)

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    Dec 29, 2012 7:39 PM GMT
    It's time we outlaw billionaires by placing a 100% tax on wealth over $999,999,999.

    Since 1980, the top 1% has sucked up 80% of all new wealth created. In 2010, the wealthiest 1% grabbed 93% of all new income.

    The richest 400 Americans -- all of whom are billionaires -- own more wealth than the bottom 150 million Americans combined. The richest six heirs to the Wal-Mart fortune own more wealth than the bottom 30% of Americans combined. Billionaires have sucked so much wealth out of our economy that the rest of us are drowning.

    We work harder. Productivity is up. But the profits are taken by the billionaires, who buy politicians and legislate rules to the ever greater advantage of billionaires -- and to the disadvantage of clean air, food, water, security, healthcare, education, retirement, and energy.

    A 94% top marginal income tax rate when this nation was prospering has been reduced to 35% today. It's time we learned our lesson, reversed these trends, and banned billionaires.

    Please forward this email to members of the 99%.

    --Thom Hartmann for RootsAction.org
  • roadbikeRob

    Posts: 14341

    Dec 29, 2012 8:09 PM GMT
    DontQuoteMe saidIt's time we outlaw billionaires by placing a 100% tax on wealth over $999,999,999.

    Since 1980, the top 1% has sucked up 80% of all new wealth created. In 2010, the wealthiest 1% grabbed 93% of all new income.

    The richest 400 Americans -- all of whom are billionaires -- own more wealth than the bottom 150 million Americans combined. The richest six heirs to the Wal-Mart fortune own more wealth than the bottom 30% of Americans combined. Billionaires have sucked so much wealth out of our economy that the rest of us are drowning.

    We work harder. Productivity is up. But the profits are taken by the billionaires, who buy politicians and legislate rules to the ever greater advantage of billionaires -- and to the disadvantage of clean air, food, water, security, healthcare, education, retirement, and energy.

    A 94% top marginal income tax rate when this nation was prospering has been reduced to 35% today. It's time we learned our lesson, reversed these trends, and banned billionaires.

    Please forward this email to members of the 99%.

    --Thom Hartmann for RootsAction.org
    These are good, valid points. This is just more valid proof that the wealthiest 1% need to start paying their fair share of taxes.