We need to raise effective tax rates on the richest of Americans, starting with those making over $5 million a year, and on corporations, to a rate comparable to how they were taxed when America’s economy was at its healthiest.
Taxing Capital Gains
The richest 1% of taxpayers receives 71% of all capital gains, while the bottom 80% of taxpayers receives only 10% of capital gains. I support treating all capital gains and qualified dividends as ordinary income. This will help raise the effective tax rate for the richest Americans.
Raising Corporate Taxes
Corporations should absolutely not be able to pay zero dollars in federal taxes. It is unconscionable and unacceptable that American companies operating in the US, selling to the American market are contributing no federal tax dollars to our society.
Reducing Military Spending
The individuals who put their lives on the line and protect our country deserve the best possible care both while active duty and as veterans. Too often, our service people are provided sub-par housing on base and don’t have full medical protections as veterans. At the same time the military industrial complex is being paid billions of dollars for projects that are designed to make the corporations designing them huge profits, not to keep our heroes safe.
Those billion dollar payments for unnecessary programs are what I’m talking about when I say that we need to reduce military spending. Military spending is 54 percent of our federal budget. We spend more on “defense” than the next 10 largest militaries combined, 6 of which are our allies. By halting some of the billions of dollars being handed over to the military industrial complex we can return to investing in our communities here at home.
The money exists, we just need to spend it differently. We have the money to build our infrastructure, put a roof over everyone’s heads, implement universal healthcare and create a stronger, freer, America. We also have the funds to truly address the climate crisis. We just need leaders with the right priorities representing us in Congress and writing the budget in a way that reflects the values of the people!