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USA 2.0

Eagle Policy Initiative
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    • The 70% Pay Cut

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    • Social Security: Cut Taxes in Half

    • Citizen Equity Trust

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    • The Wealth Tax Floor

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By Erik Bethke
Policy Essays

The Wealth Tax Floor

1 min read
ready

If Homeowners Pay 2%, Billionaires Should Too

If a middle-class family pays 2% property tax on their $300k ranch home, Musk/Trump/hedge-funders should pay at least 2% on their yachts and stock hoards.

The Mechanism

  • Floor: Net assets >$10M pay a wealth-tax floor equal to the highest state/local property-tax rate (~2-3%)
  • Uniformity: Doesn't matter if it's stocks, private equity, yachts, or Picassos
  • No escape via "$0 salary": Wealth, not income, is the base. Loans against stock don't change liability.
  • Enforcement: FATCA-style reporting. If you hold >$10M anywhere, your bank reports it.

Revenue Scale

  • U.S. households with net worth >$10M: ~1.5M families
  • Aggregate wealth: ~$40T+
  • 2% floor = ~$800B/year

That basically funds Social Security's gap and Medicare's.

The Rhetorical Shield

"Wealth tax!" opponents will cry. But property taxes are already a form of wealth tax. We're just applying the same logic to assets beyond real estate.

Simple, not socialist. The wealthy get taxed no less than homeowners already are.

Where the Money Goes

  • Citizen Equity Trust (CET) dividends
  • Child Safety Fund (automatic, formulaic grants to scale evidence-based interventions)
  • Debt reduction when surpluses exist
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Clean Capitalism

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The Safety Bonus