General Discussion
In reply to the discussion: If you gave the bottom 300 million people in this country $3,000 each...? [View all]LogDog75
(1,428 posts)Instead, the money should be used to change the way our nations economic system runs to reduce the pay equity between the rich, the middle class, and the poor.
First of all, we need to change the tax codes to prevent the wealthy from being able to influence the government on the taxes they pay. They should have no more tax breaks than the average citizen has like individual/married, deduction, SALT deductions, child credit deduction, etc...
Second, we need to increase the taxes on those making over $500,000 raising it in graduated rates where the more you earn the more you pay in taxes. IMO, the highest tax rate should be 75% for federal taxes.
Third, CEOs are limited to 15 times the average pay of their employees. Any amount the CEO and top corporate managers make above the 15 times limit will be taxed at a higher rate.
Fourth, pass a law that saws corporations are not people but are an artificial entity and therefor do not have the same or more rights than a human being. Corporations have limited free speech rights but no rights to influence the federal, state, or local governments on the enactment of laws or taxes.
Undoubtedly, there are more things but the idea is by reforming how our economy and tax polices function from favoring the wealth to the average citizen will benefit everyone at every level. The monies collected from taxing the wealthy and corporations can be used to reinforce the social safety net that has been shredded since the Reagan administration.