i sent this text to my family group chat (which includes my father). my dad is a poverty MAGA with a wild fantasy about how to better enjoy his retirement.
this post was submitted on 29 Jan 2025
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If they gave everybody in the US in poverty 100k, it would cost $4,189,000,000,000.
The US GDP is $27,360,000,000,000.
What's your definition of "poverty", citizen?
Or "everybody", for that matter.
Any age range, or are children & elders out?
Is citizenship required or merely present in the country at the moment this miracle occurs?
Perhaps baseline cognition is required? Or are the sleeping, the mentally challenged, the comatose, and MAGAts excluded?
Any working age person who makes under the federal minimum wage is in poverty. Children, the retired, and illegal immigrants don't count. Realistically anybody not making a living wage for a 40hr week is impoverished.
Hilariously, there are a great number of MAGA types that would be included in the people who would receive the $100k, but would vote against their own interests due to brain rot political talking points.
How much tax revenue would we gain if we reinstated the corporate tax to the levels it used to be in the 40's and 50's? You know, when America was great? That tax rate was 52%>. Care to take a gander at what today's rate is?
We are losing tens or hundreds of billions of dollars thanks to tax policy incongruent with sanity.
Effective tax rate? Basically zero. Iirc the on-paper corporate tax rate is around 20%.