Tax Reform

Tax Reform

Ralph Nader’s perspective paraphrased

From pages 76-78 of Unstoppable

1. Ralph Nader likes a proposal first floated by formed Ronald Reagan appointee, David Stockman; namely a tax on stock trades. Mr. Nader says this alternative is attractive because it bypasses substantially the impact on the “real economy.” Mr. Nader maintains that at the level of trading when Unstoppable was written (2014) a tax of one half of one percent would raise three hundred billion a year. “Tax what we bet, not what we net.”
2. Ralph Nader also promotes a flat rate of taxation on income, capital gains, and dividends to reduce squabbling over those matters.
3. Mr. Nader believes that the government should go after past due and unpaid corporate taxes more aggressively.
4. Finally, Mr. Nader also favors taxation on a broad range of hurtful or damaging activities. He believes these “sin taxes” should include taxes on gambling, alcohol, tobacco and carbon pollution generators. “Tax what we burn, not what we earn.”

 

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