RESPECT OUR DOLLAR
In order to get elected, politicians overspend as the short-term policy pleases the citizens in their respective districts. But, spending more money than the country produces is a long-term issue that will leave future generations crippled in debt. In fact, the effects of overspending, the budget deficit, and the national debt is already incapacitating our nation’s ability to function. The Republican, Democrat, and even fellow third parties advocate for irresponsible spending policies that are focused on getting popular and obtaining wealth — not the wellbeing of the long-term outlook and prosperity of our country and people. The Stair Party promises to be a home for fiscal responsibility and giving a sustainable economic plan that will lead America into the 21st century.
Inflation is possibly one of the best ways for the super wealthy in the United States to profit without the wider population knowing. While the outrage at unneeded inflation is certainly alive and well, the benefits it gives to billionaires arguably is largely unknown. Since all super wealthy individuals have an overwhelming majority of their wealth in assets rather than the currency itself, purchasing power transfers from the individual American to the billionaire. The first people to get hurt by inflation are always the working class citizens. Therefore, the Stair Party will always be opposed to policies that unnecessarily increase the inflation rate of the United States. Actions the federal government and Federal Reserve have taken during COVID-19 such as the stimulus checks dished out are not supported by the national party. Instead, a federal employment program in order to correlate spending and productivity during such a recession would be preferred by the party. We must respect our dollar if we want to see any sort of long-term prosperity for the working class American and the nation as a whole.
Our national debt and budget deficit will consume our economy and rot it to the core with the result of this irresponsible bipartisan spending spree being a government barely able to function. Despite the looming threat of default constantly dangling above the government’s head and the limit in which individuals and countries will stop investing in our debt is unknown, the Republican and Democrat parties continue nonetheless. Once again, this is due to both parties benefiting from the system of short-term overspending in order to get elected. On top of this, outside powers such as China investing in our national debt is a possible threat to our national security as control over our national debt is control over our economy. It must be emphasized that a nation doesn’t need to hold a majority of our national debt in order to make a serious negative economic impact. A swift dump of debt investments from an outside power can easily cause an economic panic. Because of this, the Stair Party has a tax plan that will put our nation in a budget surplus.
The current tax system in the United States is intentionally broken to prevent billionaires from paying their fair share. So, the Stair Party plans to completely reform the federal tax system by replacing all federal taxes with just three: Consumer Tax, Land Value Tax, and a Carbon Tax. Starting with a Consumer Tax, we plan to levy a Consumer Tax at 5% with B2B (Business to Business) transactions being taxed at 10% as to tax each side of the business transaction. We estimate this taxation to generate the majority of federal revenue. Second is Land Value Tax. We plan to levy a 5% Land Value Tax which we estimate will take second place in generating federal revenue. Finally is a Carbon Tax. We plan to levy a Carbon Tax at $50 per metric ton with an annual growth rate of 5%. We estimate this Carbon Tax will generate the least amount of federal revenue. However, we believe this Carbon Tax is necessary to tax the costs of pollution. Pollution is expensive as it costs lives, hurts capital, and dampens the efficiency of the nation overall. So, it's only fair to tax such external costs. Overall, the estimated tax revenue expected is to be $8.46 trillion annually. This will not only put the government in a budget surplus, but will allow the federal government under the Stair Party to take on projects that will generate even more revenue for the government such as Universal Education, massive infrastructure projects, and extensive domestication initiatives. Most importantly, it will allow the government to start paying off the national debt rather than constantly borrowing.
When designing this taxation reform policy, the Stair Party made sure to give a third choice to taxation policy. The “tax more or less” policies that are constantly shown to the general public by politicians are not the only choices out there. The third choice is an efficient tax system. The obvious reason for this third choice not being popular with politicians is because it would directly go against the special interests of themselves and their donors. Frankly, you can tax at 99%, but if the tax codes determine that there are certain companies/individuals exempt from such taxation, only a certain portion of the population will truly be affected by such a taxation. Our tax policy is directed at getting rid of these loopholes and therefore reducing the financial burden on the individual working class American.