Legislative Language For Share and Protect Taxes

The Difference between “I will not be greedy” and “I will be giving:”

In a nutshell: this tax plan provides a Share: a monthly sliver of the overall GDP to every US citizen of working age who is not already on Social Security.

It produces the curve at the top of this page: for 90% of Americans, they will gain more than they lose by switching from the current tax system to The Share and Protect tax system.

This analysis assumes filers using 1040EZ.

Those making zero today will gain the most: namely $1,000 income every month (after paying taxes on their Share).

Those making the median income of $30,000 will receive approximately $6,000 net benefit (they will receive the same checks as everyone else, but they will also be paying more taxes than the person who was making zero before.)

The “break-even” point is $150,000, which is where the top 10% of earners start. From there on up, taxpayers will be paying more under the new system than under the old system. But never more than $12,000 more.

Note that for high-end earners, they will probably pay more than $12,000 more because they are usually not 1040EZ filers, but use complexities in the tax code to make their tax outcomes better than those for average citizens.

By insuring that no one has too little, we will protect all of us from those who have too much. See The Share, A New Social Contract for an explanation of why.