Friedberg

You could do that.

And I'll give you guys another statistic.

In the state of California, these billionaires, there's 200 of them.

The total net worth of billionaires in the state of California is $2 trillion.

So you're talking about raising $100 billion on this one-time 5% tax.

or as Ro Khanna would say, 20 billion a year.

California is looking again at a one and a half trillion dollar liability hole that it's facing.

Taxing billionaires doesn't solve any of our problems.

We have more fundamental problems with respect to spending and the overall debt levels that we've already taken on.

And if you tax billionaires of the whole country, let me give you guys the statistic on this.

There's about 900 billionaires in the United States.

The total net worth of billionaires in the United States, $8 trillion.

So if you took, let's say 1% a year, every year you take 1% of the billionaire's worth, that's $80 billion of income for the federal government every year.

That will pay 20 days of interest on our debt.

20 days.

The net worth of the United States, the middle class, and everyone else is $170 trillion compared to $8 trillion of the billionaires.

Just so everyone understands, the real goal of this is not to tax billionaires because there are other ways to tax billionaires.

The real goal of this is to create, for the first time in American history, a private property asset seizure tax

And to use that as a weight, to take it past, because they're going after the $170 trillion, not the $8 trillion that the billionaires have.

It never works.