Based on past experiences I think this is a long shot and won't go beyond the drawing board, but given how extreme the current situation is offline, I'm willing to gauge interest.
Obviously any such "party", if it were allowed to exist, would operate within RF rules. (For the sake of argument, assume that no member of staff could be a member to avoid any conflict of interest).
I honestly don't know what reactions to expect, so feel free to comment and share your thoughts. Any ideas on what you'd hope or expect from such a group are very welcome.
I'd like to form the Tax Reform And Universal Health Insurance With Universal Basic Income ( T,R.A.U.H.I.W.U.B..I.) party that'd favor implementing tax reform and universal health insurance with universal basic income as follows:
1. Universal health insurance ( U..H.I.) affordably be done with insured cost sharing, ( Universal Medicare with a combined $4,000 Part A and B deductible, a 20 percent Part A and B co-insurance and a 50 percent prescription drug co-insurance ) costing taxpayers ca. $1.9 trillion in the fiscal year 2023.
2. U.H.I being funded in large part with a 10 percent value-added-tax ( 10%V.A.T.) less VAT tax monthly rebates of $165 for each American citizen age 18 or over, this would net approximately 600 billion dollars of revenue in the year 2023; U..H.I. also being funded in part with an increase in the corporate income tax rate from 21 percent to 29 percent resulting in corporations paying U.S. corporate income taxes of ca. $500 billion, the imposition of financial transaction taxes ( remittance taxes and stock/bond trade taxes) generating ca. $200 billion, the implementation of tariffs resulting in ca. $135 billion of revenue in 2023 and federal estate taxes generating an additional ca. $35 billion in revenue., alcohol, cannabis and tobacco excise taxes generating ca. $80 billion of funding for U.H.I, and the remainder of funding for U. H.I. coming from Medicare payroll taxes of ca. $350 billion.
3. Social security being fully funded by a doubling of the cap on social security taxes, so that all workers and employers would contribute 6.2 percent of social security taxes on every dollar of their earnings up to $320,000 of each individual wage earner's income .In 2023, this would mean Americans would pay ca. $1.3 trillion in social security payroll taxes.
4. U.S. military spending along with all other governmental agencies, save for U.H.I. social security the Department of Transportation and Homeland Security,being funded with a simplified income tax system, just a few income tax brackets beginning in year 2026, zero percent on the initial $12,000 of personal individual annual income, 12 percent on $12,001 to $51,000 of personal individual annual income, 32 percent on individual personal annual earnings in excess of $51,000. Capital gains taxed at same rate as ordinary income. No tax credits, save for a refundable $2,000 child tax credit as well as a $4,000 subsistence living allowance tax credit for each adult American citizen. In 2023, this would result in total personal federal income taxes amounting to an estimated $1.2 trillion.
5. The implementation of excise taxes on railways, fuel, airports and aviation collectively adding up to $160 billion, which would fund the Department of Transportation and Homeland Security.
6. Approved federal spending in 2023 at ca. $1.9 trillion for universal health care ( U.H.I. ) $1.3 trillion for Social Security, ( no change from status-quo on S.S. retirement benefits ), ca. 900 billion dollars towards the military and veteran services or veteran benefits, $494 billion on debt interest payments, an estimated $100 billion towards Medicaid, $62 billion spending on the U.S. Department of Agriculture, ( ca. $10 billion ) for the Department of Commerce, ( ca. $13 billion ) for the Center for Disease Control and Prevention, ( ca. $32 billion) for the Department of Energy, ( ca. $9 billion ) for the Environmental Protection Agency, ( $4 billion ). for the Food and Drug Administration, ( ca. $40 billion ) for the Department of Housing and Urban Development, ( ca. $23 billion) for the Department of Interior annual spending, ( ca. $50 billion) for the Department of Homeland Security, (ca. $30 billion) for the Department of Justice, ( ca. $10 billion ) for the Department of Labor, ( ca. $25 billion ) for N.A.S.A., ( ca. $45 billion ) for the State Department, ( ca. $110 billion) for the Department of Transportation, ( ca. $23 billion ) for the Department of Treasury; the above proposed federal spending resulting in total federal annual spending to be ca. $5.18 trillion..
7. The above approved fiscal year 2023 federal spending being ca. $5.18 trillion and ca. $4.56 trillion of tax revenue would result in a federal deficit of ca. $620 billion for FY 2023.
