If governments controlled disposable income of the .1 %, would poverty end?
"If you take a billion dollars from every billionaire in the country you can run the government for six weeks. "
The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP) as of Q1 2014.
Divide the 123 trillion dollars among all Americans.
So, if you divided the money correctly, every household in America would be millionaire. But even if you didn't divide it exactly equally, if there was a ceiling to wealth accumulation, say at one million dollars, then everybody would still be well off.
And let me tell you something, the government too would run much better than before. Because you see, the super rich have a rather hateful relationship with taxes, and they also seem to need to spend many hundreds of billions of dollars every year on protecting their money from other forms of what they think is thievery.
But the rest of us? Well, we're much more accomodating. We don't fetter too much about having to pay taxes, and don't find the need to devise elaborate plans on not paying them. Society doesn't run without taxes, and everybody benefits from them. We understand that. We're also not very enthusiastic about all the wars and the lethal gadgets, especially not when at 598.5 billion dollars it costs more than half of ALL of the budget passed by congress. (54% to be precise, so more than all other discretory government expenditure combined). So, without the super rich, both tax collection and government spending would increase, making everything better off. The reality of now however is, unfortunately, very much the opposite.