So there is an estimated 1.4 Billion acres of private property in the US.
The Federal budget for 2023 was $6.1 Trillion with a deficit of $1.7 Trillion.
A Land Value Tax with an average of $10k per Acre would raise $14 Trillion. Giving 50% to the States, leaves $7 Trillion.
As long as you kept the payroll taxes for Medicare and Social Security, you could abolish all other taxes. This would not only eliminate the deficit but pay down the debt and have money left over. Without spending cuts.
Kemotep /
npub15m…8d9fr
2024-06-17 12:30:52
Author Public Key
npub15m46s68lf9v7u0wv4zj33ysd340urf3fwecfa2mk0m2qy7drgq6sy8d9frPublished at
2024-06-17 12:30:52Event JSON
{
"id": "4250b093c558efe7295be4ff5e7b854c57a305a45f7886210a695065d29027f1",
"pubkey": "a6eba868ff4959ee3dcca8a518920d8d5fc1a62976709eab767ed40279a34035",
"created_at": 1718627452,
"kind": 1,
"tags": [
[
"proxy",
"https://mastodo.neoliber.al/users/kemotep/statuses/112631968753717783",
"activitypub"
]
],
"content": "So there is an estimated 1.4 Billion acres of private property in the US.\n\nThe Federal budget for 2023 was $6.1 Trillion with a deficit of $1.7 Trillion.\n\nA Land Value Tax with an average of $10k per Acre would raise $14 Trillion. Giving 50% to the States, leaves $7 Trillion. \n\nAs long as you kept the payroll taxes for Medicare and Social Security, you could abolish all other taxes. This would not only eliminate the deficit but pay down the debt and have money left over. Without spending cuts.",
"sig": "fe0cd74b6b5ea9c6a1ed3ad3db603e58a6a6fd410b8c15a6e3c2db1c1298974b701f5f0c86402f72fbd8a4bebd5dba44d1e2d170f51fd0cc56cc631a00b613f5"
}