May 5, 2018
This Facebook Co-Founder Wants to Tax the Rich
Posted by Derick Lee in categories: economics, government
Hughes, 34, now devotes his time to evangelizing for higher taxes on the rich, such as himself. He’s proposing that the government give a guaranteed income of $500 a month to every working American earning less than $50,000 a year, at a total cost of $290 billion a year. This is a staggering number, but Hughes points out that it equals half the U.S. defense budget and would combat the inequality that he argues is destabilizing the nation.
Chris Hughes thinks $290 billion a year is a small price to pay for equality.