The United States has created economic policies that benefit billionaires and corporations at the expense of middle class Americans. This economic structure has created a society where a few unbelievably wealthy individuals hoard vast quantities of wealth, sometimes more wealth than entire nations. Meanwhile, working Americans struggle to pay their exorbitant healthcare bills, housing and meal costs, as well as pay off increasing debt.
In 2017, roughly 15 million households were “food insecure.” Children facing hunger have a higher risk of developing certain health issues. Some of these health issues can lead to long-term disabilities. In order to combat food insecurity, Solomon supports distributing America’s large food surplus to those that are hungry. The government routinely buys dairy surplus in an effort to hold onto steady prices. For instance, in 2019, there was a 1.4 billion pound surplus of cheese. Solomon also supports expanding SNAP (Supplemental Nutrition Assistance Programs) to cover a larger range of individuals, including those with disabilities, to a higher extent and raising the monthly income limit that determines eligibility for the program. This will allow lower-income individuals and families to receive more food.
Right now, if a minimum-wage employee works 40 hours a week for $7.25 an hour, they will make $15,080 a year. Basic necessities like food and housing often exceed this cost, and as a result, many individuals work multiple jobs. Solomon supports a $15 minimum wage because he believes that one job should generate a livable income.
Additionally, Solomon supports making corporations pay their fair share. Amazon paid $0 in federal income tax in 2018. Because of Donald Trump’s economic policies, corporate tax breaks were reduced from 35% to 21%. Solomon would advocate to roll back the corporate tax breaks passed during Donald Trump’s administration, and force these corporations to pay what they owe.
Solomon supports a wealth tax on the top 0.1% of Americans. For married couples, the wealth tax would start at 1% on taxes $35 million and would gradually increase up to 8% for wealth over $10 billion. Solomon also supports a 70% marginal tax rate on those who make above $10 million (this means that their $10,000,001 will be taxed at this rate).