The average net worth of the 400 wealthiest Americans rose to a record $4.2 billion in 2012, according to the Fortune 400. (Seven in ten of the list’s members made their fortunes from scratch.)
Since liberals have been asking for the ’1 percenters’ to pay their ‘fair share’, what would happen if we just seized the assets of these super-rich elites to pay down the national debt? Considering the U.S. deficit is $4 billion a day and the national debt is growing, we better get started…
“It’s fine to celebrate success but it is more important to heed the lessons of failure.” — Bill Gates
Microsoft braniac and nerd guru is worth $66 billion — more than any other American citizen. Grab his stash, and we cover the deficit for 16.5 days… or a little over two weeks.
“I could end the deficit in five minutes. You just pass a law that says that anytime there’s a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election. Yeah. Yeah. Yeah, now you’ve got the incentives in the right place, right?” — Warren Buffett
The sage of Omaha weighs in at a not-too-shabby $46 billion. Time to get taxed more than your secretary, Warren. Your pile of cash funds the government for 11.5 days. Next!
Read More: http://www.ijreview.com