This is a 1st Draft of a proposed economic plan for the United States of America. It does not solve everything, it just makes life generally better. I have yet to arrive to any objections to this plan, except for the discarded one of those who would be crying over “lost” imaginary profits.
“Universal Basic Income” (UBI) is defined here as:
- $62,000/year (in 2020 dollars) per person, paid directly by government.
- National Medicare Coverage at 100%:
- – no age restrictions,
- – medical, Rx, dental, vision, hearing, hospitalization,
- – physical & occupational rehab, long-term & disability care,
- – addiction rehab, hospice, funeral.
“Work” is defined here as:
32hours/week x 52 weeks = 1664 credited work hours per year,
- with 8 calendar weeks of vacation+holidays
- – (non-expiring accumulation, for days not taken within the year)
- 3 years maternity or paternity leave (government funded)
- minimum wage = $37/hour ($61,568 for 1664hours/year).
Tax Schedule for Individuals
- “Tax” is defined as total of Federal+State+County+City taxes,
- no deductions of any kind,
- “Total Income” is defined as cumulative from all sources (i.e., includes capital gains),
- “Taxable Income” is defined as (Total Income – $62,000)
For:
(1)
Taxable Income = $0.
Tax = $0.
[no one has Total Income < $62,000]
(2)
$0 < Taxable Income < $938,000.
Tax = 17% x (Taxable Income/$62,000)^0.397
i.e. (4 examples):
0% for Total Income at $62,000;
[leaving $62,000 net income]
25% for Total Income at $225,788.57
[$40,947.14 tax, leaving $184,841.43 net income]
35% for Total Income at $444,264.78
[$133,792.67 tax, leaving $310,472.11 net income]
49.984% for Total Income at $1,000,000.
[$468,849.92 tax, leaving $531,150.08 net income]
(3)
$938,000 < Taxable Income < $999,938,000.
Tax = 38.335% x (Taxable Income/$62,000)^0.098
i.e. (2 examples):
50.028% for Total Income at $1,000,000.
[$469,266.76 tax, leaving $530,733.23 net income]
99.069% for Total Income at $1,000,000,000.
[$990,630,091.60 tax, leaving $9,369,908.40 net income]
(4)
Taxable Income > $999,938,000.
Tax = 99.1% x (Taxable Income)
i.e. (2 examples):
[$990,938,558.00 tax for Total Income = $1B; leaving $9,061,442.]
[$9,909,938,558.00 tax for Total Income = $10B; leaving $90,061,442.]
Corporate Taxes = 50% of Total Income, no deductions.
Stock Market Transaction Tax = 30% on every transaction/trade, whether electronic or in-person.
The U.S. military budget is mandated to remain below 1% of GDP (which was $22T in 2020),
- – so under $220B (2020)
Climate Change Response, Energy Systems Transformation, Environmental-Biodiversity Restoration mandated to remain above 2.5% of GDP,
- – so over $550B (2020)
- – no fossil fuel subsidies
- – no nuclear subsidies (beyond safe maintenance of legacy waste)
- – steadily reduce Greenhouse Gas emissions annually to arrive a “0” by 2040
- – plastic packaging banned
- – all potable water systems bought up to maximum standards nationally.
Agriculture:
- – regenerative agriculture mandated
- – chemical pesticides banned
Internet:
- – nationalized (free access)
- – including social media
Guns:
- – each gun must be insured at $1,000/year, to pay for gunshot victim injury and death costs, nationally.
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manuelgarciajr 
I was impressed with your proposal until I reached your delusional bias regarding forcing gun owners to insure their firearms for $1,000 per gun per year. My reaction was immediate: F you!
Your proposal would result in mostly wealthy Republicans able to possess a gun, the very people the rest of us need to defend ourselves from.
Think again and come up with a more rational proposal instead of shooting your mouth off with such reactionary nonsense.
It’s just like car insurance and house insurance. People easily pay that much for those.
In this instance, your reasoning is convoluted. Car and house insurance protects from accidents. When, however, in the case of possession and use of a weapon to murder one or more people is involved, sufficient laws exist to address and punish the perpetrator. Spreading liability for such unlawful use to punish law abiding gun owners as well for the criminal’s act is irrational.
Liability insurance. Guns can cause far worse injury and death than cars and houses. You’re just being irrational, as are people obsessive about guns. In my economic plan you would get $62,000/year tax free, as well as free health care, and education. Probably you’d be richer than you are today. So gun insurance would not be a burden. The medical costs of treating gunshot injuries and deaths in the U.S. per year, along with minimal death benefits for victims (as in school, church and mall shootings) amounts to well over $200/gun owner in the U.S. Add in some administrative costs, and make the death benefits reasonable, and the national cost averages out to $1,000 per gun owner. Charging them a group liability insurance premium is only fair, since they are the ones supporting the gun industry and widespread gun irresponsibility that harms many other innocents. Doctors have to pay high premiums for malpractice insurance, and what they practice is for human benefit unlike gun people; contractors are required to carry insurance to obtain professional licenses, as are pilots and many other technical professionals; so it is more than reasonable to make gun owners (however selfish they may be) to pony up for the social costs of their dangerous and socio-pathological obsession. Why should I or anyone else have to suffer and die – at my own expense – to randomly absorb the fatal stupidity of a shoot-em-up hero in-his-own-mind.? No answer is necessary, I understand the underlying neurosis.
Lovely! And very sensible.
Sent from my iPhone
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