the Alaska Permanent FundAnd, which was established by a Republican ruler nearly half a century ago, allowed Alaska residents to participate in profits from extracting oil and minerals in the state.
as New York Times He explains, “similar social funds – sometimes called sovereign wealth funds – are common in other conservative countries.” In reality, National interest Reports indicate that “the vast majority of countries that have a domestic sovereign wealth are very Republican countries.” Texas, Wyoming, and North DakotaFor example, all of them maintain billions of dollars Public wealth funds.
Democrats need more thinking if they want to restore respect – and vote. They need to think that American productivity exceeds oil and gas, and that it is the result of the progress of 75 years in technology, medicine, financing and many other industries, and that it is derived from race and inspiration for all our fathers and grandparents. The stock market gains reflect our productive past. We must all reap some rewards from this long -term effort.
A new wealth should not only be taken from before 10 % of Americans who Owning 93 percent From the stock market. While the S & P 500 has acquired files Before inflation Medium 10 percent Annually, over the course of the last century, the returns accumulate on this growth negatively to our richest.
Public wealth boxes are widely suggested to correct the defect. Funding will come perfectly from the financial transaction tax or a form of imposing fees on market value. The financial transaction tax argument has been presented For years by Dean Baker and Elizabeth Warren and Bernie Sanders. The alternative is a small tax on stock holdings. the People’s policy project Note that At the end of 2017, the market value of the listed local companies was 32.1 trillion dollars. Thus, the 3 % market value tax will bring about a trillion dollars of assets.
The value of the current American stocks more 50 trillion dollars. Only two percent tax on this amount will return $ 1 trillion. Each of America 127.5 million families You will earn nearly $ 8,000 a year. All families, wealthy or poor will participate in America’s prosperity.
Of course, the millionaires who almost own the stock market will resist even a small percentage of the country that made them rich. Although there is no rich in expressing their money, there is a good reason-contrary to the fair recognition of the community’s contribution to the long-term gains-the owners of stocks to adopt an American permanent box. I also noticed reliable financial sourcesConsumer spending directly affects the performance of the stock market. With a trillion dollars in consumer spending, this stock market grows likely to compensate for small transactions tax or capital tax, then some.
It is certain that it is worth paying my name to stimulate the economy and increase the private stock portfolio.
But where is the political will to achieve this? Democrats’s proposal to obtain a public fund throughout the financial transaction tax may lead to persuading the satirical middle -class America that a democratic vision focuses on the needs of society instead of wealthy individuals.
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