Archiemac
As an economist, I have discovered that the only purpose for interest rates is to transfer money from the poor to the rich. Only credit controls can regulate inflation.
To redistribute wealth without affecting the middle income groups, we should limit income to $1 million per annum with the proviso that employers can only earn 10 times the income of their lowest paid employee.
Inherited wealth should be limited to $1 million per person in their lifetime.
This would repatriate the billionaires wealth to the state on their death.
Lotteries could create a fund that would be used to guarantee bank loans to entrepreneurs and inventors, who do not have collateral security. This would create thousands of new jobs and new industries.
Archie
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Toronto, ON
Joined
Oct. 17, 2011
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