this post was submitted on 19 Jan 2024
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The American dream is 'rapidly diminishing,' Walgreens boss says in plea to raise taxes for the wealthy (www.businessinsider.com)
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[–] chknbwl 4 points 10 months ago

For the average American, a retirement fund of $1 million is required to sustain such a lifestyle from age 67 (National Retirement Age) to age 77 (National Life Expectancy).

Elon Musk's reported net worth is $180 billion dollars. For purposes of this exercise, let's leave this multi-billionaire 20% of his hoarded wealth, which leaves us with a tidy $144 billion.

This one guy, if given a very conservative wealth tax, could pay for 144,000 people's retirements.

One guy.