The survival of American democracy depends on taxing billionaires
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It is essential not just to fund the public goods the nation needs, it is indispensable to restore a sense of fairnessMoney doesn’t buy happiness, we’re told. Even some economists agree. The Nobel prize-winning economists Daniel Kahneman and Angus Deaton once proposed that rising income increased people’s emotional wellbeing only up to a ceiling of about $115,000 in today’s money.They probably hadn’t met many billionaires. The ultra-rich may not pursue happiness in the joyful sense of the word.
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