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We can say 'top 0.1%' - - but if you look at anything from robust spending on DoorDash, Mid-Range restaurants, New Cars, Designer brands...that isn't just the top 0.1% or even top 1% - that is people you see every single day. The billions in sports gambling? That isn't just musk and buffet....that's the tattoo'd putz at Chipotle going into credit card debt because he's too cool to brown-bag cold cuts. And that encapsulates culture. Financial Culture. Anyone remember when we were kids? Going out to eat was a treat. New Cars was a big deal. Gambling every day on games? Bullshit, it wasn't so mainstream. Forget eating out, BUT delivery charges on some app? Nope, wasn't normal. OkEverybody always says Slash Defense! Take all the money from the 1%ers! That'll fix it!!
Except that...it won't.
Forbes: Forbes 2026 Billionaires ListThe United States still boasts the most billionaires, with 735 list members worth a collective $4.5 trillion. Cool. The feds have spent...
fiscaldata.treasury.gov - Federal spendingThe U.S. government has spent $6.13 trillion in fiscal year 2023 to ensure the well-being of the people of the United States....so all of America's billionaires' wealth would cover the 73% of the government. Zero out defense spending and that number rises to 86%.
Nope, not gonna get it done. That's why the 'A' word is going to happen at some point. AUSTERITY.
