To fund it, you’d probably have to tax the top 50% at a much higher rate.
Total US income is about 9,200T. Top 5% represent about 30% of all income or 3,000T.
Pay every household $24,000 per year is about 3,000T total.
So yeah, you could tax the top 5% at 100% and just barely pay for it.
The 40% bracket in the UK starts at ~$60k USD (50k GBP). In the US you’d be in a 22% bracket up to $84k.
Not picking on the UK, just an example.
To fund it, you’d probably have to tax the top 50% at a much higher rate.
Total US income is about 9,200T. Top 5% represent about 30% of all income or 3,000T.
Pay every household $24,000 per year is about 3,000T total.
So yeah, you could tax the top 5% at 100% and just barely pay for it.