Thursday, August 17, 2023

Inequality

History shows us that the number one reason that people desire a socialist type government is income inequality. This has been getting worse in the US since the 1980's. There are a number of things that can be done to slow down and even reverse this trend. 1. Withhold SS on all earnings like is now done with Medicare. That wage is currently $160,000 2. Have SS benefits reduced for singles with retirement incomes over $200,000 and $400,000 for couples. 3. Promote private unions 4. Increase child tax credit and earned income credits 5. Make the EV $7,500 tax credit refundable so it helps low income people 6. Increase tax brackets to include 50% on income over $1 million and 70% over $5 million 7. Raise minimum wage 8. Promote school choice where the money follows the student 9. Increase the Medicare surtax from 3.5% to 7% 10. Privatize social security which allows people who do not live normal life expectancy to pass on left over SS funds to heirs. In the US rich men live 15 years longer than poor men and rich women live ten years longer than poor women. 11. Tax rate for capital gains to be the same as for ordinary income

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