Whose Tax Code is it?

Of course we need to repeal Trump’s tax bill. But the tax code has served corporations and the super rich for decades. We need to unrig the whole tax code!

Take the survey to tell us how you would fix the tax system. (You can pick as many as you like). The descriptions are below, and the survey follows.

  • Wall Street Sales Tax- We pay taxes when we buy a pair of shoes or some tacos -- Wall Street traders should pay a tax when they buy or sell stocks and other financial products.

  • Eliminate the “carried interest” loophole -- Private equity and hedge fund managers shouldn’t pay lower tax rates than teachers, nurses, and firefighters. Let’s get rid of this ridiculous subsidy.

  • Tax excessive wealth -- Charge a 1% tax to people who have over $10 million, and another 1% tax to people who have over $1 billion. The last thing we need is an inherited aristocracy.

  • Tax rich people selling assets the way we do regular income -- Capital gains are profits from selling things like stock, art, and yachts. Inexplicably, we tax income from stuff less than income from work. There is no earthly reason for the rest of us to subsidize peoples’ yachts.

  • Bring back the estate tax - Most owners of multi-million dollar estates are allowed to pass on property to their heirs tax-free. The estate tax helps us avoid becoming an inherited aristocracy and brings in revenue for schools and roads -- let’s bring it back!

  • Raise income tax for the super rich -- Tax the portion of people’s income above $10 million at a 70% rate. Don’t worry -- under Eisenhower, top earners used to pay a 91% marginal tax rate, and the world didn’t come to an end.

  • Tax a company’s real profits -- Tax the real profits that very large American companies report to their investors -- no loopholes or exemptions -- so no company with massive profits can disguise them or hide them offshore to pay zero federal taxes.

  • Tax companies with ridiculous CEO pay more than other companies -- There is no way CEOs work 500-1000 times as hard as a worker at their company. When CEOs get paid more than a hundred times what their workers get paid, charge the company a 10% surtax.