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I think we already have this -- it's called Corporate taxes. Nominally 35% of all of the profits of every U.S. corporation are paid to the federal government.
by cameldrv 9y ago
I think we already have this -- it's called Corporate taxes. Nominally 35% of all of the profits of every U.S. corporation are paid to the federal government. In practice after deductions it's about 20%. His analysis of where the money comes from amounts to either diverting money from the federal budget in one way or another, or increasing taxes.
It seems to me that the real problems here are this: An increasing share of GDP is going to corporate profits, and away from wages, due to deunionization, globalization, immigration, and automation. Government policies are mostly responsible for the first three. This stagnation of wages has combined with the post war relentlessness of Madison ave, which programs us to increase our consumption, even though there is no new income to support it. The result is decreased savings and increased debt among the bottom 90%.