Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis...

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Universal Social Security How to Restart the American Dream

Transcript of Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis...

Page 1: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Universal Social SecurityHow to Restart the American Dream

Page 2: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

14 Sources

Page 3: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Sources 1-4Resource Royalties

Page 4: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Metals and Industrial Minerals

Page 5: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Metals and Industrial Minerals

$78,300,000,000

(2015)

5

Page 6: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Metals and Industrial Minerals Royalties

25% Royalty

$19,575,000,000per year

Page 7: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Coal

Page 8: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Coal

$31,300,000,000

Page 9: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Coal Royalties

$7,825,000,000 per year

Page 10: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Oil

3,441,787,000 barrels per year

$44 per barrel

$151,438,628,000

Page 11: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Oil Royalties

$37,859,657,000 per year

Page 12: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Natural Gas

28,812,904,000,000 ft3 per year

$3.50 per 1000 ft3

$100,845,164,000

Page 13: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Natural Gas Royalties

$25,211,291,000per year

Page 14: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 5Land Use Royalty

Page 15: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Royalty Fee:

$400 per acre

Page 16: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Acres of Native American Land:

56,200,000acres

Page 17: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Farmland: 914,527,657 acres

Number of farms: 2,109,303

X

3 acres per farm

6,327,909 acres

Page 18: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Total Nonexempt Land:

1,296,019,710acres

(2,260,419,458 - 56,200,000 – 914,527,657 + 6,327,909)

(US Total – Native American Land – Total Farmland + 3acre Rule)

Page 19: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Land Use Royalty:

$518,407,884,000per year

Page 20: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 6The Carbon Tax

Page 21: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

CO2 Released:

5,271,000,000 metric tons

(2015)

Page 22: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Carbon Tax

$131,775,000,000per year

Page 23: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Sources 7-9Social Security Revenue

Removal of the Social Security Wage Cap

Estate Tax

Page 24: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Current Social Security Revenue:

$769,400,000,000per year

Page 25: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Removal of the Social Security Wage Cap

$100,000,000,000per year

(2030 projection)

Page 26: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

The Estate Tax

$29,000,000,000per year

Page 27: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 10Financial Transaction Levy

Page 28: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”
Page 29: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Original research from:

Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes” with the Center for Economic and Policy Research & the Political Economy Research Institute at the University of Massachusetts Amherst (December 2009)

Page 30: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Financial Transaction Levy

$250,000,000,000per year

Page 31: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 11The United Investment Income

Page 32: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

5,008 public traded companies in USA.

S&P 500 accounts for 75% of the total US equity market

Page 33: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Average Earning per Share for S&P 500 Companies:

$4per year

Page 34: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

S&P 500 Companies

Total Number of Shares: 282,407,430,333

30% of All Shares: 84,722,229,100

Earnings Per Share

$1 $2 $3 $4 $5$84,722,229,100 $169,444,458,200 $254,166,687,300 $338,888,916,400 $423,611,145,500

(add 25% for non-S&P 500 Companies)

…$112,962,972,133 $225,925,944,266 $338,888,916,400 $451,851,888,533 $564,814,860,666

Page 35: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

United Investment Income

$451,851,888,533per year

Page 36: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 12The Fair Pay Incentive

Page 37: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

1950s–1960s Pay Ratio:

1:20

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2010s Pay Ratio:

1:300+

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1:1 – 1:50

0% added

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1:51 – 1:100

5% added

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1:101 – 1:150

10% added

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1:151 – 1:200

15% added

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1:201+

25% added

Page 44: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Corporate Profit with IVA and CCAdj:

2015 before tax → $8,035,700,000,000

2015 after tax → $5,916,700,000,000

Page 45: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Estimation Range

If All Pay At:1:1-50 →1:51-100 →

1:101-150 →1:151-200 →1:201+ →

Yearly Total:$0

$295,835,000,000

$591,670,000,000

$887,505,000,000

$1,479,175,000,000

Page 46: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

The Fair Pay Incentive:

$500,000,000,000per year

Page 47: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 13Federal Welfare Transference

Page 48: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Current Welfare Expenditure:

Federal, State, and Local Welfare: $1.03 trillion

Corporate Welfare: $110 billion

Total: $1.14 trillionper year

Page 49: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Federal Welfare Transference:

$500,000,000,000per year

Page 50: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Source 14Global Democratic Citizen Investment Income

Page 51: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

GDP of World Democracies:

$26 - $35 trillion

(USA not included)

Page 52: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Global Democratic Citizen Investment Income:

$100,000,000,000per year

Page 53: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Total Revenue from Sources:

$3,440,905,720,533per year

Page 54: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

$1,345per month

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$16,143per year

Page 56: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Clayton H [email protected] 05/26/2016

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Page 57: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Clayton H [email protected] 05/26/2016

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Page 58: Social Security Universal - University of Manitoba research from: Dean Baker, Robert Pollin, Travis McArthur, & Matt Serman in “The Potential Revenue from Financial Transaction Taxes”

Clayton H [email protected] 05/26/2016

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