the corporate tax is a pass thru regressive tax paid by consumers and/or labor, not capital - this is taught in the mainstream textbooks
the financial transactions tax is said to be needed to curb speculation and high frequency trades, why not just make those sort of things illegal?
I think the tax abatement thing is just one of the issues activists have with Amazon. Labor conditions, compensations, gentrification, and responsible corporate behavior are all part of their complaints. The tax abatement/incentives thing is a problem, and the U.S. Congress is the only thing that can stop the race to bottom among local/state govts.
also, I’ve seen a chart recently that Sanders put out that showed the costs of his spending initiatives vs revenue raised by his proposed tax increases. I didn’t add it all up but eyeball math indicated they were close to matching but not quite.
In any event, Sanders knows better and needs to stop with the public deficit terrorism while recognizing MMT in private. In that sense, he’s kind of like you in that he’s too afraid to ‘go there’ fearing it will go over the heads of voters. But he ends up complaining about deficits while simultaneously proposing additional deficit spending. He just needs to let Stephanie Kelton run point, let her be the policy clearinghouse, and then get her message out there.
MFA is going to be a deflationary event without taxes added. It is an offset. People demanding additional offsets are calling for austerity! MFA might cause a financial crisis. We are talking about destroying trillions and trillions in balance sheet wealth and future earnings of a large sector of the economy. Meanwhile, everything produced in the U.S. will be cheaper to make because healthcare would not be a cost of production for businesses. Presumably, we would have a healthier workforce and society with all sorts of positive externalities and 2nd and 3rd order effects that make our economy more efficient. Yes, if healthcare is free to people, that’s like a tax cut. But we know some of the ‘tax cut’ will be saved. And the inflationary pressure would have to be as large as the deflationary effects just get back to neutral. Meanwhile, the inflationary ‘tax cut’ effect would be delayed over time; whereas, the deflationary effects begin on day one. So I think MFA legislation needs to be accompanied by a payroll tax holiday.
I stand by this logic and it’s more thought out than calls for deficit neutral MFA. I could be wrong about the need for such a large tax cut but at a minimum much smaller tax increases are needed than currently suggested.
Nobody has modeled the need for offsets (positive or negative) for price stability purposes. Everything is about revenue and deficit neutrality (and these sorts of forecasts are notoriously unreliable and wrong - see the CBO’s predictative track record).