Comment Comment by triceratops Private US wealth is in the range of 200-400 trillion. A blanket 1% annual wealth tax would wipe out the debt in 10-20 years.75% of US debt is held domestically. So most of that money will go back into the country.It's highly unlikely a lucrative revenue stream like this would ever go to paying off the debt. But theoretically the money exists. parent triceratops 7 months ago
75% of US debt is held domestically. So most of that money will go back into the country.
It's highly unlikely a lucrative revenue stream like this would ever go to paying off the debt. But theoretically the money exists.