Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
An item came to mind just now. Back in grammar school, I recall a ridiculous numerical figure which was purported to be the sum total of national debt incurred as a result of winning World War II. That number was in the "quadrillions," so my history book told it. How many trillions are in a "quadrillion?" Just wondering out loud, with my fingers typing away.
The total U.S. household net worth after deducting all household debt is currently $123 trillion. The top 1% control $38.6 trillion of that. The top 10% control $85.6 trillion of that. The bottom 50% control $2.5 trillion of that. Imagine what a 3% or 4% wealth tax would do. Imagine what a a 10% one would do. If $1 trillion trickles down to America's kids in the form of a tax credit, it's fine with me.
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