popper wrote:Just finished a 4 mile hike in the dark in Breckenridge CO. Elevation 9600 feet and current temp is 42 degrees. I’m still thinking that a gas tax (or VMT tax) is ripe for consideration. Chamber of Commerce wants .05 increase per year up to max of .25 total. I think that’s a bit high but a good starting point for discussion. I also want to revisit a Bernie Sanders proposal to tax wealth which I endorsed here some time ago. Not sure exactly how it would work but what about 1% per year on certain classes of assets over some threshold (say 10 or 20 million). Applied to individuals, foundations, endowments (not sure exactly).

2 thumbs up buddy
we gotta tax the uber wealthy. assets over 10-20 million is a great start. and 1% gradual annual increases seems smart.
but the wealthy are smarter than us and move faster than congress. And their bought and paid for politicians will leak to them before anything gets passed. They will use that info and those leaks to move their wealth into different national banks to avoid the taxes.
So while I agree with taxing wealth<--we MUST BE STEALTH about it!!!
perfect campaign slogan. To tax the wealth you must be stealth!
Problem:
At this point there is still a lot of American wealth oversees.
Objective:
That American (global) wealth must first be repatriating with
compelling tax reform that lures it into the united states banking system and our American markets
Technique:
Once we reach a critical mass of removing wealth from foreign markets
those foreign markets will crumble. Not unlike our markets crumbling in 2008. Once those foreign markets crumble even more wealth will removed from those crumbling markets and make its way into American markets. As all of that money makes its way into American markets our markets will surge. <--which will grow and create even more american wealth relative to the rest of the world's markets. As our markets surge and foreigners invest in our markets
we must make them become american citizens in order to invest in our markets and we must make them pay taxes on their income from our markets to the United States.
^^^this is our pathway to increasing federal revenue. This is our pathway to balanced budgets. This is our continued pathway to repatriating wealth. We can easily pull this off with good tax reform and good trade reform. The united states is far and away the greatest consumer of goods. We buy everything and by large margin. All we need is competitive corporate tax rates and stable markets and a surging economy. All of which is in our control. This is the time to be a nationalist. this is the time to bring jobs and manufacturing back to the united states. As we bring more and more money into our US banking system and bring manufacturing back and keep our technology here in the united states, and make foreigners pay when the use or steal our technology...do all that...and our markets will grow exponentially.
It really is that easy. We've been "global" for decades. 4 decades!! We've grown foreign markets. Enriched them and built them up. But now its time to focus on the home front. We need this revenue to pay down our debt.
Once the wealth is here...once foreign markets are crushed...once we force those foreign investors to become american citizens(making them subject to our tax laws and all of our laws) in order to keep their wealth safe in out markets...once all of that is accomplished...
then we tax them!! we punish them for removing their wealth from our markets...no different than early withdraw penalties from retirement accounts. all of this must become part of future tax reform.
Once the wealth is here...once federal revenue is significantly increased and balancing our budget...as our debt is being paid down. Then tax the uber wealthy estates. massive farms, massive estates, foundations, massive real estate portfolios. tax it all. tax it hard. tax it often. redistribute that wealth. level the playing field.
This will take decades. But we can do it. we are still in the driver's seat. For now. But we wont be for long. Now, trump has no desire to redistribute wealth. Another administration will have to carry that water down the road. Right now trump is beginning the process of repatriating wealth and building our market back up and renegotiating our trade deals and bringing back manufacturing.
like i said, its a full rebuild.