Problem: The US is spending on the proverbial credit card. Extreme deficit spending is the norm. The wealthy are taking all the money and paying less taxes with each passing year. The poor are crushed under inflation as their wages stagnate and their taxes increase.
Answer: I want to cut taxes for most people and create a much steeper progressive income tax. I would tax unrealized capital gains (if I have to pay taxes on the unrealized gains in my home's value, why should billionaires get to skate by without paying anything?). I would implement a wealth tax on anyone with over $10 million of assets that would increase as you approach and pass $1 billion. Remember - this will include the unrealized stock options of the ultra-wealthy - an asset that they do not currently pay ANY taxes on. This should piss you homeowners off because you DO pay taxes on your unrealized gains in your home's value.
The billionaires have siphoned almost ALL of the economic growth for 40 years, and their greed is obvious when you look at your roads, your schools, your healthcare, and basically anything else that needs public funding.
Original source can be found here.
