It’s time to abolish federal taxes and replace them with a 10% gross revenue tax to save the middle class and restore The American Dream for all Americans.
There has never been a better time for entrepreneurs, sales people and entertainers to have the opportunity to achieve the American Dream. That is 100% true.
However, it’s also true that it was easier decades ago for typical workers to have a better path to achieve the American Dream.
Cost of living, wages and productivity were more aligned allowing people to work their way up in a reasonable time frame.
As we continue to grow as a country, we need to reboot the economic policies, so that all Americans can benefit as we grow and evolve.
How the American Dream died over 45 years:
1. Trickle Down Economics ❌
2. Stock buybacks ❌
3. LBOs & start of PE dominance ❌
4. Pensions to 401ks ❌
5. Offshoring❌
6. National debt from $5T ➡️ $39T ❌
7. 2008 crash | subprime mortgages ❌
8. Increased rent prices ❌
9. Super PACs ❌
10. 25% inflation since pandemic ❌
AND Productivity and GDP per capita far outpaced wages and our purchasing power is down 75% in the 45 years.
150k is the new 60k
This is because of “The Big Three”
1. Housing
2. College
3. Daycare
Three neighbors leaving next to each other could have drastically different monthly payments because of The Big Three.
It could range from $600 - $6,000+
This is why we often hear Millennials & Gen Z sharing how they would need 100k to 150k to be comfortable.
In order to save the middle class, we would need either:
1. Cost of living to come down 30% - 40% (which in reality, is not good, because that usually means recession)
OR
2. Wages increase 50%
The likelihood of either of those happening is basically zero.
So, what’s left?
ABOLISH Federal Taxes and let hardworking Americans keep their money!