The solution is simple because we already have a mechanism in place: the estate tax. By rolling it back and reforming it, we can use it to fund the fund the American Prosperity Fund.
The APF will operate similar to an IRA, distributing dividends to working Americans, their families, and retirees. Americans will have the option to keep their share in the fund to keep it invested, without paying taxes.
Key Points
- Adjust the estate tax to 50% with a $2M exclusion
- Transfer collected taxes to the American Prosperity Fund
- APF pays a dividend to each working American, their families and retirees.
- Grant deferrals to key strategic businesses like farms
Advantages
Although there are many ways to address inequities, establishing the American Prosperity Fund stands out for being sustainable, equitable, and fiscally responsible.
- Does not affect anyone during their lifetime or their spouse
- Only applies to the wealthiest few % (multi-million dollar estates)
- Boosts the economy and supports American businesses
The Dividend
The American Prosperity Fund will be owned by the American public. Assets placed into the fund do not need to be immediately sold. The fund will be professionally managed to ensure any liquidations have no negative impact the stock market or businesses.
Changing the estate tax will give every working American, their family, and retirees an estimated dividend of $4,000 annually for a family of 4, $2,000 for a couple, and $1,000 for each individual.
Americans can optionally leave their share in the fund and let it compound like an IRA, which can be partially or fully withdrawn at any time without penalty, while continuing to accrue their annual dividends which are also reinvested.
Managing the dividend separately from the government lets you decide how to best use the money. Make ends meet, invest, pay off credit card debt, student loans, or even obtain loans against it – you know what’s best for you.
Is this Fair?
An estate tax is not only fair, it’s been in the US tax code for over a century. In the 1980s, the estate tax was 77% and at the end of Ronald Reagan’s term the estate tax was 55%.
In recent times, however, the rate has gone down and loopholes have been added that make it nearly useless, allowing wealthy families to pass hoard their assets and pass them to heirs untaxed.
This plan does not affect any American or their spouse during their lifetime. It lets those who have earned their success enjoy it as they please. It ensures fair treatment for future generations and creates no national debt to burden them.
It’s time for everyone to participate in America’s prosperity.
<- Home Making This Happen ->