[quote=CA renter]1.) Restrict the ratio of highest-paid to lowest-paid people who work for or own a particular corporation (including ALL types of compensation to any individual). If they want the benefits of incorporation (basically spreading the risks), then they should have to pay for those benefits by spreading the rewards, as well.
2.) Tax ALL income at the same, steeply progressive rates.
3.) Eliminate the ability to step-up the cost basis of assets for heirs of large estates. Adjust the cost basis by some sort of inflation factor instead in order to avoid being taxed on “inflation.”
4.) Universal healthcare for all U.S. citizens. Medical costs are one of the leading causes of bankruptcy. Unfortunately, if someone is stricken with a devastating illness, they are often unable to work (and maintain affordable insurance) at the very same time that they need this insurance. We pay the highest medical costs for some of the worst outcomes, respectively. Americans desperately need to wake up and learn more about the different healthcare systems and their outcomes.
5.) Lift the cap on income subject to SS taxes, increase SS contributions from both employees and employers, and increase the benefits with the possibility of adjusting the benefits based on needs.
6.) Consider imposing tariffs on “U.S. companies” (and foreign companies?) that do most of the manufacturing overseas if they want to sell goods in the U.S. These costs should offset any differences in labor and environmental standards between the two countries.
If the company isn’t paying for all of the legal, physical, social, and other infrastructure provided by our government (because they are doing most of their work overseas), they should have to buy the right to be a U.S. company with all of the protections and benefits that this affords them.
Just these steps alone would greatly reduce the income and wealth gaps, while still allowing people the ability to save for retirement and enjoy a decent quality of life.[/quote]
1)What would that ratio be? I wonder how this will affect CEO’s decisions, especially regarding inversions to bypass this all together.
2)This wouldn’t matter if the company is non-American (inversion).
3)What would be considered large?
4)This a whole other debate, but sure, reform of our healthcare system. There is a reason why the rich people from other countries come here for healthcare.
5)So, what you’re saying is, the richer you are, the more you pay, but the less you’ll get and the poorer you are, the less you pay into the system but they more you’ll get. How can such system be sustainable?
6)So, you’re imposing tarriffs on most companies. Most tech products are made overseas. Wouldn’t this give companies one extra reason to invert? Since they’ll have tarriffs imposed on them anyways?
Wouldn’t this also cause a trade ware against other nations? How does this help the little guys in the bottom rung if everything they buy becomes more expensive? Wouldn’t that eat up any gain their get from income increase?
