Green New Deal

Representative Ocasio-Cortez presented her green new deal plan this week, and it s a non binding resolution. This is useful to give a signal which representatives are going for support a more es expansive policy, but it still leaves out details on how to do it.
She is attempting to address both income inequality and global warming in one legislation, which is exactly what Initiative 732 did. She doesn’t have details unfortunately.
Here is how I would do address both climate change and inequality in one blow:
  1. A carbon tax with no exemptions which starts at $25 per ton and increases at 3.5% + inflation annually with no cap or expiration date.
  2. Implement high speed rail on the 100 most high demand routes, from the most to least important.
  3. No income tax below $100,000 annual income for a single person.
  4. Allow Americans to privatize their Social Security taxes in IRA accounts. Eliminate the cap on Social Security taxes. This will effectively fight income inequality.
  5. A $5000 annual Universal Basic Income. Minors will have half their Universal Basic Income in a trust for when they are 18, and half goes to their parents. that money they receive when they are 18 will be enough to cover room and board in college, and the money is theirs, so their parents will have no power over them. The $5000 in the beginning of the year will help people get out of debt or invest in their future. Once out of debt, it is enough to fully fund someone’s retirement account for retirement.
  6. Three options for health care, all options allow Medicare to negotiate lower drug prices.
    1. A public option and increase Medicaid eligibility to $60,000 per person annual income for a single individual.
    2. Everyone is eligible for Medicaid.
  7. Free college tuition at public universities.
  8. Tax capital gains as regular income.
  9. Either my full tax plan, or have a new bracket at 50% for all income above $1 million per year.

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