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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. 

(Image by Center on Budget and Policy Priorities)   Details   DMCA

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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