May 5, 2018

This Facebook Co-Founder Wants to Tax the Rich

Posted by 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.

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