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To expand social programs to cover a larger part of the population, increased revenue is necessary. Here are some ways to raise it:
1. RAISE THE HIGHEST MARGINAL RATE
The highest marginal federal income tax rate in the United States, as of now, is 35%. This is what middle-class citizens of other countries pay. It could be raised to at least 55% for the richest 0.5% of taxpayers.
2. VALUE-ADDED TAX
A VAT could be applied to all goods except food and medicine. This VAT would vary with the good being sold; however, an average of 20% is reasonable.
3. INSTALL TOLL BOOTHS ON ALL INTERSTATE HIGHWAYS WHERE IT WOULD BE AFFORDABLE TO DO SO
Charging for access on all interstate highways should raise a fair amount of money. In addition, an executive order could be passed forbidding speed limits above 55 mph on any other road and requiring strict enforcement, perhaps by federal police if necessary.
4. REMOVE THE SOCIAL SECURITY INCOME CEILING
The current social security income ceiling is $106,500. This would be removed, and all earnings would be subject to social security tax. However, the ceiling would stay in place for benefits. Any taxed income over the ceiling would be 25% allocated to helping the program stay solvent and 75% allocated to the general fund.
5. TAX ASSETS
Anybody owning over $250,000 in liquid assets, second homes, or vehicles would be required to pay a progressive tax (increasing with the amount of assets owned) on them each year to the central government. This would be a sort of "federal property tax".
6. TV LICENSE
Require the payment of a $250 annual license for every TV-owning household. The elderly, disabled, and unemployed would be exempt. Require the top 1% of earners to pay an additional $750.
7. RAISE THE GAS TAX
Raise the gas tax to keep gas and diesel at a fixed price of US$6 / gallon, rising with inflation every year. Use the income derived from the tax to fund public transportation, bikeways, and walking infrastructure.
8. BRING BACK CORVEE LABOR
Require all youth from all backgrounds to spend one or two years serving the government. Many great public works materialized in this manner; examples include the Pyramids of Egypt and the maintenance of the Roman road system. As they would be forced to work, easily supervised, menial jobs would be in order. A small stipend, meals, and dormitory-style housing will also be provided. The consequence for refusing to perform this labor would be prison time or a $200,000 tax.
To expand social programs to cover a larger part of the population, increased revenue is necessary. Here are some ways to raise it:
1. RAISE THE HIGHEST MARGINAL RATE
The highest marginal federal income tax rate in the United States, as of now, is 35%. This is what middle-class citizens of other countries pay. It could be raised to at least 55% for the richest 0.5% of taxpayers.
2. VALUE-ADDED TAX
A VAT could be applied to all goods except food and medicine. This VAT would vary with the good being sold; however, an average of 20% is reasonable.
3. INSTALL TOLL BOOTHS ON ALL INTERSTATE HIGHWAYS WHERE IT WOULD BE AFFORDABLE TO DO SO
Charging for access on all interstate highways should raise a fair amount of money. In addition, an executive order could be passed forbidding speed limits above 55 mph on any other road and requiring strict enforcement, perhaps by federal police if necessary.
4. REMOVE THE SOCIAL SECURITY INCOME CEILING
The current social security income ceiling is $106,500. This would be removed, and all earnings would be subject to social security tax. However, the ceiling would stay in place for benefits. Any taxed income over the ceiling would be 25% allocated to helping the program stay solvent and 75% allocated to the general fund.
5. TAX ASSETS
Anybody owning over $250,000 in liquid assets, second homes, or vehicles would be required to pay a progressive tax (increasing with the amount of assets owned) on them each year to the central government. This would be a sort of "federal property tax".
6. TV LICENSE
Require the payment of a $250 annual license for every TV-owning household. The elderly, disabled, and unemployed would be exempt. Require the top 1% of earners to pay an additional $750.
7. RAISE THE GAS TAX
Raise the gas tax to keep gas and diesel at a fixed price of US$6 / gallon, rising with inflation every year. Use the income derived from the tax to fund public transportation, bikeways, and walking infrastructure.
8. BRING BACK CORVEE LABOR
Require all youth from all backgrounds to spend one or two years serving the government. Many great public works materialized in this manner; examples include the Pyramids of Egypt and the maintenance of the Roman road system. As they would be forced to work, easily supervised, menial jobs would be in order. A small stipend, meals, and dormitory-style housing will also be provided. The consequence for refusing to perform this labor would be prison time or a $200,000 tax.
To expand social programs to cover a larger part of the population, increased revenue is necessary. Here are some ways to raise it:
1. RAISE THE HIGHEST MARGINAL RATE
The highest marginal federal income tax rate in the United States, as of now, is 35%. This is what middle-class citizens of other countries pay. It could be raised to at least 55% for the richest 0.5% of taxpayers.
2. VALUE-ADDED TAX
A VAT could be applied to all goods except food and medicine. This VAT would vary with the good being sold; however, an average of 20% is reasonable.
3. INSTALL TOLL BOOTHS ON ALL INTERSTATE HIGHWAYS WHERE IT WOULD BE AFFORDABLE TO DO SO
Charging for access on all interstate highways should raise a fair amount of money. In addition, an executive order could be passed forbidding speed limits above 55 mph on any other road and requiring strict enforcement, perhaps by federal police if necessary.
4. REMOVE THE SOCIAL SECURITY INCOME CEILING
The current social security income ceiling is $106,500. This would be removed, and all earnings would be subject to social security tax. However, the ceiling would stay in place for benefits. Any taxed income over the ceiling would be 25% allocated to helping the program stay solvent and 75% allocated to the general fund.
5. TAX ASSETS
Anybody owning over $250,000 in liquid assets, second homes, or vehicles would be required to pay a progressive tax (increasing with the amount of assets owned) on them each year to the central government. This would be a sort of "federal property tax".
6. TV LICENSE
Require the payment of a $250 annual license for every TV-owning household. The elderly, disabled, and unemployed would be exempt. Require the top 1% of earners to pay an additional $750.
7. RAISE THE GAS TAX
Raise the gas tax to keep gas and diesel at a fixed price of US$6 / gallon, rising with inflation every year. Use the income derived from the tax to fund public transportation, bikeways, and walking infrastructure.
8. BRING BACK CORVEE LABOR
Require all youth from all backgrounds to spend one or two years serving the government. Many great public works materialized in this manner; examples include the Pyramids of Egypt and the maintenance of the Roman road system. As they would be forced to work, easily supervised, menial jobs would be in order. A small stipend, meals, and dormitory-style housing will also be provided. The consequence for refusing to perform this labor would be prison time or a $200,000 tax.
When does the gvt have enough money? 25% of GDP ? 50% of GDP ? 100% of GDP ? Some one tell us that 4 trillion is just not enough.
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