It's time for a federal budget that reflects our values and invests in the future we all deserve. We constantly hear about the need for funds, but too often, the conversation stops there. I believe we can fund vital initiatives and strengthen our nation by simply making our economic system fairer, not by burdening the everyday American.
My campaign is built on common-sense solutions that ensure everyone pays their fair share, allowing us to invest in infrastructure, education, healthcare, and so much more. Here are two key proposals to achieve this:
1. Ending the Capital Gains Giveaway: Taxing Wealth Like Work
Ask yourself: why is the income earned from an hour of hard work taxed at a higher rate than money made simply by letting money sit in a stock portfolio? It's a question of fundamental fairness, and the answer is clear: it shouldn't be.
Currently, income generated from investments – known as capital gains – enjoys a preferential, lower tax rate compared to the wages and salaries that most of us earn. This system allows the wealthiest individuals, those who accumulate vast fortunes through investments, to contribute a smaller percentage of their income to our national needs.
My proposal is straightforward: We must tax all income – whether it comes from a paycheck or from financial assets – at the same federal income tax rate. This isn't about "punishing" success; it's about leveling the playing field. It's about ensuring that a billionaire making money off their money pays the same proportionate rate as someone working diligently to provide for their family. This reform includes mechanisms like constructive realization, ensuring that large, untaxed gains on inherited wealth contribute to our society just like any other income.
This crucial step will not impact your 401(k)s, as those gains are already taxed as income upon withdrawal. This change alone could generate an estimated $118 billion to $300 billion in revenue over the next decade, providing a massive infusion into our nation's priorities. It’s not raising taxes on billionaires; it’s making the tax code fair for everyone.
2. Rounding Up for Our Communities: A Small Change, A Big Impact
In the spirit of efficiency and generating necessary revenue, we need to adapt to modern realities. We've seen how streamlining operations can benefit our economy. Following the lead of proposals to phase out the penny, I propose a simple, practical adjustment to our daily transactions:
Let's round up all U.S. transactions to the nearest nickel. This would apply at the transaction level, not per item, meaning your total bill would simply be rounded to the closest multiple of five cents. This isn't a complex new tax; it’s a tiny, almost imperceptible adjustment that, when aggregated across millions of daily transactions, makes a significant difference.
This small, logical change would generate approximately $4.5 billion in revenue every single year. Think of the impact that recurring funding could have on our communities, year after year, building better infrastructure, supporting local programs, and directly addressing the needs of our citizens.
These are not radical ideas; they are common-sense reforms designed to create a more equitable and financially robust America. By closing unfair loopholes and implementing practical adjustments, we can ensure that our government has the resources to serve all its people, build a stronger future, and restore faith in a system that truly works for everyone.
Join me in advocating for these vital changes. Let's build an economy that is fair, inclusive, and strong enough to meet the challenges and seize the opportunities of tomorrow.
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