Billionaires' tax

Thought for the day

Do you know the difference between a million dollars and a billion dollars? Here’s a tip: If you invest $1 million in a fund that pays 5% interest the first year, you will earn $50,000. However, if you invest $1 billion in that same fund, a year later you will earn $50,000,000. That’s right. A billion is one thousand times more than a million.

I wonder why West Virginia Senator Joe Manchin is opposed to President Biden’s call for a billionaires’ tax? A 10 percent tax on $50,000,000 isn’t going to send a single uber rich person to the poor house, so what’s the problem? I doubt anyone who earns $50,000,000 in interest is going to miss $5,000,000.

Joe Manchin appears to be a serious person. I seriously hope he reconsiders his opposition to a billionaires’ tax.

- DF