TYT Contributor Dylan Ratigan (https://twitter.com/DylanRatigan) gives his thoughts on how we must change the conversation surrounding tax policy in the United States.
For more, subscribe to TYT Politics: https://www.youtube.com/channel/UCuMo…
TYT Contributor Dylan Ratigan (https://twitter.com/DylanRatigan) gives his thoughts on how we must change the conversation surrounding tax policy in the United States.
For more, subscribe to TYT Politics: https://www.youtube.com/channel/UCuMo…
Comments
Dylan
What you are describing are fines, not taxes there is a difference
Who do you fine to pay for the Military? For schools? Fire depts? Space program?
Taxes are levied because society has decided to have certain things that can only be done in aggregate
Secondly, all examples of using fines to pay for government have lead to crippling regressive taxation, refer to Ferguson MO
In cases where states/ local areas are out of sync like that, the locality needs to add a layer of minimum income
The problem with your argument is that Congress (a bunch of whores) will decide in favor of their pimp every day and twice on Sunday. I don’t think pimps have a good understanding for what’s right and wrong. The answer is a flat 5% tax on everything but food and housing. If we legalize drugs, and slap a 5% tax on it, America will have more money than it knows what to do with. Of course the pimps will still be in charge of how that money is spent. Back to square 1.
The case for a 0% tax rate :
America needs a tax lesson. We are like toddlers that require a slap on the wrist every now and then to reinforce what’s right from wrong. Best way to do that is to drop the tax rate to 0%. This will trigger a ripple effect. Schools, police, armed forces, transportation systems, social security, healthcare, the ftc, the fbi — everything will begin to shut down. Let’s watch as corporations begin to crumble because folks can’t afford the product. Let’s watch as people lose their jobs. Let’s watch as the bottom falls out of the dollar and quantitative easing finally catches up with us to unleash post-WWar II Hungary-like hyperinflation. Let’s watch as everyone’s 401K takes a dive and the people that thought they were rich realize they got it all so wrong — “if only we would have listened to Nick Hanauer and given them healthcare and a $15 min. wage like they wanted”. For whatever reason Americans can’t comprehend something unless it hurts so let’s make it hurt for a while. This is the punishment America needs and deserves. In ten years we will be so much better for it. In other words, in lieu of a redistribution of wealth we can start a revolution.
My tax policy fits on a postcard (hold on!)
A flat tax (hold!) of 33%
AND a credit of $5K/SSN on the tax form (Call it minimum income, I can be persuaded to make it higher, but the tax rate has to go up too)
no loopholes.
If GDP is 18 Trillion, the government gets 6 Trillion – ($5k*330Mil=1.65Tril)=4.35 Trillion
I think it works out to be pretty progressive: a family of 4 making $20K pays no tax (any less, they get a credit), a corporation making $1Mil/year pays $325k (assuming it can get a credit for it’s TIN)
It might be a little less than the government spends right now, but I’m pretty sure it’s more than we take in, & we can cut the military to make it fit.
I appreciate your attempts at doing the math, but I gotta stop you and say, single person at $20k a year in any major population center is nearly homeless at best rent poor, let alone a family of 4. I think you gotta bump up your minimums dramatically.