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Best Web OpEds    H4'ed 1/9/20

How a Benefit-based Tax to Fund Defense Spending Can Change the Dynamics of U.S. Warmongering!

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Since the mid-1970’s the top 5% has receive the lion’s share of U.S. prosperity (see graph) and the linked article provides the details. In addition, fast-track trade legislation has enabled corporations to off-shore jobs for the benefit of the top 5%, creating the need for ever-increasing military spending to protect their assets around the world. 


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A few 2020 Democratic Presidential candidates favor a wealth tax, by justifying it as benefit-based rather than purely arbitrary to tax the rich, can general increase support and force opponents of a wealth tax to defend why it isn’t justified and fair. Such a tax is one the few hopes for getting the top 5% to support more prudent military spending.

With the top 5% accruing the lion’s share (80%+) of the benefit of military spending isn’t fitting for them to fund 80% of the military budget with a wealth tax!
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A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 
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Hugh Campbell

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The Social Security and Medicare tax are benefit-based taxes funded by those who benefit, isn't fitting the those at the other end of the economic spectrum that benefit the most from military spending pay the most to fund it!


Submitted on Friday, Jan 10, 2020 at 1:44:27 PM

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Hugh Campbell

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Prior to the acceleration of gun violence of the last several decades the average citizen, could reasonably rely on law enforcement and military spending to keep them safe. Now neither can provide the comfort enjoyed previously. In addition, since healthcare has became a for-profit enterprise in the mid-1970, deaths have accelerated. These two risks to life and limb beg the question: why should the average taxpayer pay for military spending that yield diminishing benefits to the average citizen?

Submitted on Saturday, Jan 11, 2020 at 12:18:59 AM

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