1% of the world population owns 40% of the wealth. One percent! I find this to be morally bankrupt. I am not a communist, a leveller or someone who supports the destruction of the motivation of wealth but I am concerned about the disparity of wealth globally. As members of the human race, we cannot allow the concentration of wealth to in the hands of a few megalo-rich. I’m not talking about 100k or even 500k earners I’m talking about billionaires. This new oligarchy is getting very wealthy on the backs of govenments, the BRIC workers (Brazil, Russia, India, China) and the middle class tax base. Its time to stand up and say enough Ayn Rand objectivism! Its wrong, outmodeled and has hurt the world immesurably. A generation of people have been taught that its ok not to care, that its ok to chase personal well being for sake of self to the detriment of others, that their needs are ultimately what the world needs. It has to stop and here is what I propose:
1. Progressive tax rates internationally. The higher you go up the scale, the higher the percentage of tax.
2. Raising of capital gains and inheritance taxes on the super-wealthy (you can pass on a million, but not a billion!)
3. A goal of lowering the percentage of wealth owned by the 1% every 10 years. It should be dropping 1% every 5 years.
4. An international group (like NATO not the IMF) to chase international tax dodgers.
5. Creation of international business laws to enforce a world tax code (yes this is a pipedream but we need to think differenty)
6. That all private and lobbyist donations be made public
I am not after the people who have made money and done well for themselves I’m really not, What I want to see is a more equatable distribution of the Worlds wealth. These folks are extracting it, its time they gave it back.