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What is seldom discussed is that instead of taking money from the rich via taxes, thus increasing the power of the government bureaucracy at the expense of priv
by Gud 2y ago
What is seldom discussed is that instead of taking money from the rich via taxes, thus increasing the power of the government bureaucracy at the expense of private enterprise, another possibility is to simply give shares of the companies to the citizens.
A scheme I’ve thought could potentially work is to mint new shares of publicly traded companies and give them to the citizens in instalments, from the 18th birthday up until the 30th, thus bridging the gap between rich and poor.
A substantial amount of stock of let’s say, 100,000 USD could be paid out like this, together with good wealth management schooling.
Many advantages, what are the disadvantages??
- big-green-man 2y agoThe disadvantage is the same as with 401ks and the like: such a system would require every citizen to have a relationship with a fund manager. At least 401k is opt in and voluntary. Wall street would love such an arrangement, and they get guaranteed capital locked up in their shenanigans, and guaranteed management and brokerage fees from every adult citizen. And, the actual capital for these investments is still what it is, so they'll find a way to make sure that people holding these default free shares don't benefit from them significantly.
- Gud 2y agoNo, the money would be totally in control of the citizen. How would it then benefit wall st? Also consider that there are more countries in the world than the US. I think it would work great in Scandinavia and Switzerland.