Ending poverty is very easy, just give people money lol Convincing the population to support the tax levels needed to end poverty is harder. On the tax side, low salience taxes help, and on the spending side, income-replacing social insurance benefits create broader buy-inhttps://twitter.com/jdcmedlock/status/1279817432853442560 …
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Income replacing benefits are sometimes considered regressive- why should social security give more to someone who paid more in? But by making the welfare state in the direct self-interest of more people, they can create the political coalition to make high tax levels sustainable
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Voters may be a bit altruistic, but ultimately altruism is probably a shaky foundation for a system that takes 50 cents out of every dollar in GDP. Make the welfare state more useful for more people, and more people are likely to support it https://twin.sci-hub.tw/6099/7e823fb6eab37fa3446bc1f6e4fd64e2/moene2003.pdf …pic.twitter.com/3oefvLhYt2
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Replying to @MattBruenig @jdcmedlock
This is why we need to move property taxes to be paid monthly or folded into mortgage payments. Reduce the yearly sticker shock.
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A land value tax does this and taxes vacancy with nearly perfect efficiency.
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Land value tax (partially deferred til sale) + sovereign wealth fund with equity stakes for all Americans
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