Re:A Basic Income Is Smarter Than a Minimum Wage
by mdorazio on Monday April 04, 2016 @04:23PM
(#11425253)
Increasing capital gains taxes back to historical levels doesn't actually get you very far. Maybe another 100-200 billion [1]. Forcing corporations to pay taxes on all money earned in the US instead of tossing it offshore would get you another 90 billion or so [2].
Realistically, almost all of the revenue has to come from increasing personal income tax, probably mostly on the top 5% of earners, but realistically everyone would have to pay more. I haven't yet done the calculations, but it seems like we're talking double digit percentage increases.
Realistically, almost all of the revenue has to come from increasing personal income tax, probably mostly on the top 5% of earners, but realistically everyone would have to pay more. I haven't yet done the calculations, but it seems like we're talking double digit percentage increases.
[1] http://people.opposingviews.com/percent-irs-revenue-comes-ca... [2] http://www.americansfortaxfairness.org/tax-fairness-briefing...