zlacker

Increased spending is the simplistic solution. Government spending as percentage of GDP is 35%, compared to about 25% in the 50s/60s. Since then inflation-adjusted spending per student has increased by roughly 3X with no measurable increase in test scores. Baltimore spends 21k/yr per student, with abysmal results. College tuition prices have increased far more than inflation, in large part due to federal student loans. The USA spends more on healthcare as a percentage of GDP than any other country, with insane markups on routine procedures. The California High Speed Rail project has taken 15 years to do environmental reviews and lay a few miles of track in the middle of nowhere, all while costs have grown to more than 128B from its initial estimates of 10B.

Giving money to ineffective organizations is throwing good money after bad. I'd love to see competent government that can effectively use funds, but I'm not seeing a lot of evidence for it these days. There needs to be deep reform and anti-corruption efforts. Good luck doing that without the status quo powers pulling out all their dirty tricks.

>>exover+(OP)
The government is not funded by taxes. It controls the supply of money, it can spend as much money as it wants whenever it wants.

Taking money away from billionaires just reduces their power, it doesn’t make any difference to the government itself.

And btw, the status quo you mentioned is funded by the billionaires that would be affected by this tax.