Here comes the flat tax again

A good business doesn’t pay out all its profits as dividends, not to be stingy, but because, in the long run taking part of all the profits from any given quarter or year and investing it in capital needs can pay even bigger dividends down the road. If you think of America as corporation, there are certain investments in its capital (in this case almost all of America’s ‘capital’ is its people.) the same is true for most businesses but businesses often divide their value into an ‘expense’ labor, wages, salary, benefits, etc. and ‘capital’ investing in non human assets. Of course, this way of thinking and is seriously flawed, labor is not a cost, anymore than ‘capital’. Paying for both are cost items to be deducted from the cost of doing business. But typically, we don’t think of a million-dollar piece of real estate as a cost item, neither should we think of labor that way.

So, when we think of taxes, we, as a nation should think of how we can best invest in the long term wealth and health and overall productivity of our main asset, our people.

A ten % flat tax would really hurt a lot of people now. Pay zero federal and state taxes on incomes under Adjusted Gross Income (AGI)$80k and $160k for a family, 10% to $125K/$250K25% on all income over $250k, and 90% of all income over $1million, 99% on?all income over $10 million, corporate, individual, inherited, earned/unearned. no one would be poor, rich people would still be rich, we could invest in the people who make our society, our economy,... our country, great again. The 80/16 is what every persons share works out to if you divide the wealth creation each year by the number of americans men, women, and children. the numbers work, and yes, we have to give up our deductions, from dollar one, personal and corporate. It probably will never happen, but it should would make America the envy of the world, something we haven’t been most of my life....

Currently 120 million americans pay taxes, with those earning over $1 million paying an average of 25%. Currently, the 60 million who earn between zero and $30k pay an average of 1.25%. People making $50-$100k pay about 5.5%. clearly the poor and lower middle class pay when they should not, and the rich are pay much less than they should.?

If you made $80k at what is now a good paying job it seems like a lot of money. I know, we had a family income of over 100k for a few years and life was great, but the truth is, the burger flipper, the dishwasher, the 12 yr old, going to school would all get your salary if the rich weren’t skimming off the top so hard! ?A chemist might be worth double that, but the CEO of both the pharmaceutical chain and the pharmaceutical makers does not deserve $8 million or 800 million, or 8 billion. Pretty sure most workers would not begrudge Bezo, and Elon making 10 times what the least well-paid employee made... the problem is Amazon pays starting wages of $45K while Bezos made $130 Billion last year. If he paid at the rate discussed above, he would still take home around 14 billion, more money than one person can spend in a lifetime…

Back to the Flat Tax:

It would take a lot more, than 10%, but we "earn" as a nation about $22 trillion each year. we spend about $6 trillion at the federal level, though we collect more like 4. 10% of the rich, if we added it as a surtax, would close the deficit.

What i am talking about is taking enough of the wealth, remember the wealth is not created but the capitalist, but by labor, if we took the $6 trillion from the wealthy, and freed up income for those who make over $50k to $160k per family to buy the things they need at fair market prices, the rich would get a good bit of the $6 trillion back through new profits. The poor would have all the basics they need, and under my plan the basics include: no cost to user healthcare and higher ed (in the long run, these both more than pay for themselves) as well as a basic UBI of $500 per person per month. pretty much eliminating poverty as we know it, this would cost $2 trillion more than we are currently spending, so we have to tax the well off up to the super rich is a reasonable graduated system like I propose, adjusting it to cover the $8 trillion per year we need.