HT Michael Gibson
This is really well done and quite interesting to me. Quick google shows that this is coming from the Libertarian right. What I find compelling is that with the exception of the "Parts & Labor" character, most of this satire should be very appealing to the left, especially the parts about bankers and military suppliers. I think that "krapitalism" has gotten so bad that there is a revolt from the left and now the Tea-party right to reset DC. Most of the left unfortunately, has not realized that a libertarian policy mix could do a lot to reign in the 0.1% which has ravaged much of their voter base by owning both sides of the aisle.
I took a stab at this policy mix below. I would love to get feedback on where this is economically wrong or too re-distributive to the massively wealthy.
1. Eliminate corporate tax which hurts small businesses lacking large legal/tax teams the most, that corporations barely pays anyway, that keeps American capital offshore, only raises $300B. It takes the system more risky as well because interest from debt is tax deductible and it makes it possible for congressmen to offer loopholes for campaign donations.
2. Lower tax brackets but tax capital gains, interest and dividends as ordinary income. This is obvious. I think we could manage to have a 30% top tax bracket if we only taxed all forms of income, as income.
3. Eliminate mortgage interest deductions and 401ks and Roth IRAs. These only really help the wealthy and they distort markets.
4. Eliminate payroll tax, it is regressive anyway.
5. Eliminate the minimum wage, it keeps companies from employing people and forces a bunch of jobs into the black/grey market where they aren't taxed.
6. Expand the earned income tax credit (i.e. if you take a job, we will make sure you make enough to get by)
7. Eliminate subsidies for student loans while massively expanding grants to states for trade schools, community colleges and apprenticeship programs. Make parents and kids think hard about what specific skills they want to learn to become productive members of society instead of spending 4 years and a lot of borrowed money on a generic diploma in beer chugging.
Basically everything needs to be way way simpler. Complexity just creates loopholes that the people with the greatest resources exploit to the greatest extent. Complex systems also exacerbate difference in natural abilities, massively benefiting high IQ humans while creating a byzantine obstacle course for everyone else.
.EW