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OpEdNews Op Eds    H3'ed 7/9/11

The There's Plenty of Money Act of 2012

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(k)    Violation of this Section shall be punishable by the forfeiture of all worldly possessions and one month in jail.

SEC. 3 WE CANNOT AFFORD BILLIONAIRES

(a) A household with annual income, including investment income but excluding inheritance, less than 2,000 times the federal minimum hourly wage will pay no income tax.  A household with income above and up to twice that base amount will pay 1 percent income tax.  A household with income above that level and up to three times the base amount will pay 2 percent income tax. A household with income above that level and up to four times the base amount will pay 3 percent income tax.  A household with income above that level and up to five times the base amount will pay 4 percent income tax.  A household with income above that level and up to six times the base amount will pay 5 percent income tax.  A household with income above that level and up to seven times the base amount will pay 6 percent income tax.  A household with income above that level and up to eight times the base amount will pay 7 percent income tax.  A household with income above that level and up to nine times the base amount will pay 8 percent income tax.  A household with income above that level and up to ten times the base amount will pay 9 percent income tax.  A household with income above ten times the base amount will have all income above ten times the base amount taxed at 100 percent.  There will be no exceptions, exemptions, or complications to this practice.

(b) A household receiving an inheritance worth less than 2,000 times the federal minimum hourly wage will pay no estate tax.  The same tax rates will apply as for income.  Estates worth above ten times the base amount will have the portion exceeding ten times the base amount taxed at 100 percent.  There will be no exceptions, exemptions, or complications to this practice.

(c) Money will not be loaned at greater than 10 percent interest.

(d) Workers have the right to organize, to strike, and to strike in solidarity with others.

(e)    Violation of this Section shall be punishable by the forfeiture of all worldly possessions and one month in jail.


SEC. 4 CARBON IS COSTLY

(a)    Emitting carbon dioxide into the atmosphere shall be taxed at $50 per ton in 2012, a rate that shall be increased by 20 percent annually for each of the next 10 years, after adjusting for inflation.

(b)    Violation of this Section shall be punishable by the forfeiture of all worldly possessions and one month in jail.


SEC. 5 LEAVE SOCIAL SECURITY ALONE

(a)    Social Security funding shall not be used for anything other than Social Security and shall never be invested or otherwise placed at risk.

(b)    Payroll taxes shall cease to exist, and Social Security be funded each year by income tax revenue, prior to the appropriation of funding for anything else.

(c)    Violation of this Section shall be considered an impeachable offense.  The House Committee on the Judiciary shall hold public hearings on the question of whether to ask the full House of Representatives to impeach any president, vice president, or other officer of the U.S. government who appears to have engaged in such a violation.

(d)    Violation of this Section shall be punishable by the forfeiture of all worldly possessions and one month in jail.

SEC. 6 HEALTHCARE IS A HUMAN RIGHT

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David Swanson is the author of "When the World Outlawed War," "War Is A Lie" and "Daybreak: Undoing the Imperial Presidency and Forming a More Perfect Union." He blogs at http://davidswanson.org and http://warisacrime.org and works for the online (more...)
 
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