If we adopt my proposed system to remake America, our economic woes will disappear forever. I recommend we establish at a federal level how much each and every U.S. resident deserves in life. For convenience, make it a dollar amount. How much each resident deserves can be based on census, IRS, and Social Security data, and would include assets, cost of living, disabilities, gender, racial background, past hardships, and other factors established by law.
Once each person's share is determined, we add up all the shares, then obtain, through taxation and eminent domain, all excess assets from those who have exceeded their share. Subtracting that from the total needed by those who have been historically deprived, we then equalize the base worth of all residents, and distribute the remainder through an annuity, managed by an agency of the federal government (perhaps within the new Department for the Promotion of the General Welfare). ...
To make this plan inflation-proof, all we need to do is have another agency of the federal government establish and maintain fair costs for goods and services, revenue from such costs being automatically deposited into the annuity fund.
No longer would employers have to pay wages; the government would do that for us. No longer would people have to work; their pay would be guaranteed. No longer would anyone have to pay taxes; all income and transactions would be managed by our representatives.
The supply of money would be maintained by the U.S. Treasury and augmented by assets liberated initially from the rich.
This system would be fair, and the government apparatus is already in place to implement the plan. It would just need to be expanded. Problems of inequity due to group-based disparate outcome and population control could be addressed legislatively and in the courts as they arise.
Some may regard this as a so-called "illegal Ponzi scheme." They are haters who certainly know that a Ponzi scheme is something that is run by greedy rich people. Every fair-minded person knows that Social Security and Medicare are not illegal, since they are operated publicly by the government of the people, and are fair.
Barry B. Dickson, Augusta