In both times of economic growth and decline, the benefits or costs have not been equitably realized by all socioeconomic groups. Nor has our system provided a secure social safety net for those who are truly in need.

• Solutions and Key Components

  • Tax corporations and individuals equitably

    • Set corporate tax rates at globally competitive levels.

    • Implement flatter tax rates on individuals and a progressive tax on wealth and estates starting at annual net worth of $50 million.

    • Tax capital gains and dividends the same as earned income.

  • Make the tax code simple and fair

    • Eliminate all tax preferences except for incentives towards retirement savings, interest on primary residence mortgages, and corporate investments in basic research.

  • Increase the federal minimum wage and index it to prevent loss of purchasing power for workers

    • Increase federal minimum wage to $10.10 per hour to lift 4.6 million Americans out of poverty.

    • Index minimum wage to inflation to keep pace with the cost of living and prevent loss of purchasing power over time.

  • Provide a universal basic income

    • Restructure the Earned Income Tax Credit eliminate phase out, increase the payout size, increase distribution from once per year to bi-weekly, and pay on an individual basis regardless of marriage status for adults and children.

  • Reform Social Security

    • Eliminate the cap on taxable earnings.

    • Increase benefits for most recipients and maintain current benefits for the wealthy.

    • Allow workers to invest some of their contributions in individual retirement accounts.