With the Democrats poised to pass a $1 Trillion Dollar overhaul of the U.S. Healthcare system, I still have not heard how we are going to pay for it.
Until Now!!!
Why doesn’t the U.S. implement a Windfall Tax on political campaign contributions? Instead of trying to tax healthcare plans to pay for healthcare, lets look to where the big money is.
President Obama spent almost $1 Billion Dollars on his bid for the White House. The average Senatorial Campaign costs around $200 Million Dollars and to become a State Representative can cost upwards of $75 Million Dollars.
So let’s do some simple math on just the Federal Campaigns. Ever four years, two (sometimes more) candidate go head to head for the White House. So let’s adjust for differences in donations and estimate $1.5 Billion Dollars spent in the Presidential Race. There are 100 Senators and 100 challengers in the Senatorial Race so that is another $40 Billion Dollars spent on ridiculous ads and buying votes. Now, we have 435 State Representatives and including their challengers, that is 870 campaigns out spending money to the tune of $65.2 Billion Dollars. So every fours years, there is over $106 Billion Dollars received and spent by our politicians in attempts to get jobs that pay less then $250,000 per year.
I will not get into State Campaigns but that could easily double or triple the total amount spent every four years.
So I propose a 50% Tax on all campaign contributions for every political campaign!!!
This tax will bring in approximately $53 Billion Dollars every four years just in Federal Campaign money and almost $50 Billion from all of the state and local campaigns. And why not, the money was not earned by the candidate! It was a windfall, just like Banker Bonuses and Cadillac Insurance Policies!!
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