I agree with the sentiment but to put some numbers into perspective we spend about 850 Billion a year on K-12 education. The US military budget is about 850 Billion. Now I would fully support switching about 200 Billion of that and throwing it at the most underfunded schools in the country. Another source would be police budgets. Police are massively overfunded and take most of a local region’s money. So we could easily grab some of that funding too.
Generally wealth transfer taxes should be higher though, so buying houses (especially second and third houses or out of state houses), buying vehicles over the “budget” category (ballpark 35K these days?), any boat that’s not a primary residence or a 10 foot fishing boat, etc etc… This idea that anything other than income tax should affect everyone equally is pretty ridiculous, as is the idea that the only way to tax wealth is to tax stocks.
I agree with the sentiment but to put some numbers into perspective we spend about 850 Billion a year on K-12 education. The US military budget is about 850 Billion. Now I would fully support switching about 200 Billion of that and throwing it at the most underfunded schools in the country. Another source would be police budgets. Police are massively overfunded and take most of a local region’s money. So we could easily grab some of that funding too.
Generally wealth transfer taxes should be higher though, so buying houses (especially second and third houses or out of state houses), buying vehicles over the “budget” category (ballpark 35K these days?), any boat that’s not a primary residence or a 10 foot fishing boat, etc etc… This idea that anything other than income tax should affect everyone equally is pretty ridiculous, as is the idea that the only way to tax wealth is to tax stocks.