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Social Security For All: A Realistic Universal Basic Income Proposal [1]
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Date: 2022-12-20
My proposed “Social Security for All” plan, will transform Social Security into a Universal Basic Income, in which instead of payments being dependent on how much you pay in payroll taxes (these will no longer be collected), their will be the same Tax Free 2000$ monthly check for all Adult US citizens (All US citizens at least 18 years of age, from a Homeless guy to Elon Musk), that will cost Six Trillion dollars annually, and be fully paid for by replacing the redundant Means-Tested Safety Net (ie. Unemployment Insurance, Food Stamps, TANF, etc.), by replacing the Progressive Income Tax Code with a 25% Flat Income Tax (This is to make it easier to pass the US congress, and is still more Progressive then the current Tax code, with all individuals making less then 96,000$ a year getting more money back from the government then they pay in income taxes) on Individual and Corporate Income with no deductions and including investment income, a 12.5% Value Added Tax, a Financial Transaction Tax of .5%, .1%, and .005% on Stocks, Bonds, and Derivatives, respectively, a 20% Tariff on all imported goods (this will discourage outsourcing), and a Carbon Tax (this will help end Global Warming by encouraging the use of renewable energy), that will together generate around Six Trillion Dollars in revenue. What do my fellow Kossacks think of the Democratic Party making this UBI proposal the centerpiece of its Economic platform to simultaneously eliminate Poverty, reduce Income Inequality, prepare for the 4th Industrial Revolution Automating most of the Workforce, Simplify the Tax Code, and generate massive Economic Growth, 🤔?
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