Taxing Asset Purchases

Nobody is quite sure where the tax conversations will end up at the Federal level. But, one thing is clear; we need to fix shit. We should spend more money on the arts, education, transportation, public housing, and a medicare system that keeps everyone proactively healthy.

Why don’t we tax different asset purchases 1%? That is it, just 1%. It is just an additional tax on making certain purchases. For example, if you buy a piece of art, an additional 1% tax goes directly to artists, artist programs, and organizations around the country. If you buy a car, an additional 1% tax goes directly to our transportation bill. That money will go directly to building street rail, repair our roads, build faster trains, and better urban transportation systems. If you buy a home, 1% goes to the public housing fund, where new housing built by the best architects in the land creating happy environments for the backbone of our cities. If you go to a private school, an additional 1% goes towards the public education system, including charter schools, and move them all into the digital age.

1%. It isn’t a lot. It would be the consumers who put money into the economy. Just thinking out loud here, but we need some serious help.