So @Noahpinion ‘s Brian point that a good safety net is a vaccine against actual socialism is well taken. My home-brew vaccine:
1. #PackTheHouse
2. Allow EITC against payroll, remit monthly
3. Triple CTC, fully refundable
4. Payfor: sin taxeshttps://www.bloomberg.com/view/articles/2018-10-26/maybe-we-should-take-socialism-seriously …
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Yeah cuz it is good
Thanks. Twitter will use this to make your timeline better. UndoUndo
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It tracks...shockingly close to my main policy priorities (minus a health care component). But there's also no way to pay for it w/ sin taxes. Tripling the CTC alone costs about $350 billion a year, at least.
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Also had full HMID/SALT repeal in the below thread! Also I think we can get a lot of juice out of excise taxes. There are a TON of Federal excise taxes and they are mostly low.
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But I’m also open to other payfors: maybe some spending cuts somewhere
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Ok. Here's a fun one: A universal child allowance of $4,000 for children under 5 and $3,000 for kids 5-17 would cost approximately $129 billion per year. You can get $129.6 billion annually by taxing capital gains and dividends at normal rates. Do you take that deal?
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Probably not no. It's silly to finance it out of capital gains. There are so many more useful places to raise taxes! Why would you raise taxes in the place where there is the MOST evidence it does economic harm?
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That's just you willfully poison-pilling a policy that both sides actually should support on their own! Rather, pay for it with taxes that don't have as strong of partisan valence: alcohol, gas, HMID/SALT/cafeteria plan exemptions, etc
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PLUS, capital gains is an extremely volatile revenue stream: I'd much rather fund out of something more stable.
End of conversation
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