Episode 195: Public Defeats and Private Victories Pt. 2
Words & Numbers
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The Importance of Taxing Billionaires
If you were to stack one dollar bills, not lay them end to end, but stack them. 10 quintillion dollars would form a stack about one tenth of a light year high. You wouldn't ever accumulate $10 quintillion because the universe won't exist for that long. This error of ignoring the effect on prices is the exact same error people make when they say we should tax billionaires 90% of their wealth to balance the budget.
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