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Palantir CEO, With a Straight Face, Warns That Wealth Tax Will Cause Mass Surveillance (futurism.com)
submitted 1 day ago by to c/nottheonion@lemmy.world
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[+] -7 points 1 day ago (3 children)

Okay I hate defending Trump, but cmon, he meant that everyone's wealth increased not that everyone's wealth increased by 3 billion.

The US has over 20 million millionaires in terms of individuals or about 20% of households. That's a damn fifth of the country who would rather see the stock market and property prices go up than the workers' salaries and ability to afford a home.

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  • [–] 15 points 1 day ago* (last edited 1 day ago)

    Even if he simply meant everyone's wealth increased, you must admit this is not true.

    To counter 20% millionaires; 66% of Americans would need credit to cover a $400 dollar expense. Approximately 45% of Americans are renters, approximately 49% do not own stocks. The majority of Americans have no wealth to increase.

    Edit; I'm a simp

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  • [–] 7 points 1 day ago

    Sure, but in a lot of the cities, starter homes cost a half million dollars.

    Also the top 1% is way richer than the top 10%

    And there’s an even steeper drop from there.

    Not to mention that I’m not sure Trump is capable of understanding that inflation has been killing any gains in wealth the lower half might have made.

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