“Gush-up” Economics

The Trickle-Down economy doesn’t work because every time we give millionaires and billionaires more money, they stash it in tax havens instead of spending it. The economy grows when money is being spent, not saved.

“Gush-up” Objectives

• Taxes:

  Fundamentally, we must cut taxes in situations where the savings will be spent in the local economy and increase tax burdens where any savings would leave the economy for sheltered savings. We must systematically reverse all Crony Capitalism “trickle-down” style tax cuts and replace them with “gush-up” tax cuts. For example:
  • Crony Capitalism’s “Trickle-Down” Treasures
    • Reverse the 2017 Trump tax cuts.
    • Close corporate tax loopholes and penalize tax havens.
    • Reverse the estate gains tax to its 2008 level.
    • Implement the ultra-millionaire tax.
    • Tax high-frequency trading.
    • Increase the capital gains tax.
  • American Family’s “Gush-Up” Tax Breaks
    • Increase earned income tax credit.
    • Shift payroll taxes from workers to corporations.
    • Eliminate the marriage penalty.
    • Enhance the child tax credit.
    • Create a deduction for primary housing costs, including rent.
    • Cut income taxes below the poverty and median income lines.

• $15 Minimum Wage:

  The minimum wage must be a livable wage. If corporations can pay people less than the cost to live, taxpayers are effectively subsidizing corporate labor costs because we become burdened with the expense of supporting other working families. We must establish a Federal Minimum Wage of $15/hour by 2025, and index it to inflation.

• Medicare:

  Allow everyone the choice to enroll in Medicare. This will decrease the healthcare costs borne by families and employers, especially small businesses. It will also facilitate part-time work, which can increase both job and parenting opportunities.