At last there is now widespread discussion about the growing inequality gap and the social evils that come along in its trail. These messages are beginning to heard but what is missing are practical suggestions of what we can do tomorrow that will start to reverse the trend. This is the discussion that we now urgently need. In past blogs I have indicated several different ways in which our Economy has to change to better cope with today's pressures and social needs. Such change can be seismic, takes a while to gain critical mass, turn minds around, set aside trusted answer and face the new. What we need right now are immediate steps that work within the accepted norms. Here are my offerings. Things that could be done right away, that will make a tangible difference and whose impact will be felt within months not decades.
Housing is the new South Sea bubble, sucking in all the loose change cause that is the only market that is sure to produce dividends. Not just homegrown goldminers but gold seekers from around the world, House are bought to capitalise on it and matters not if they stand empty.
Step 1. All domestic property whose address is not recorded on an Electoral Register and cannot prove a minimum six month protected tenancy is taxed at an exorbitant rate.
Our commercial core is being manipulated to provide instant profit to satisfy the demands of the investing institutions solely looking to todays deal. We have to break away and restore a longterm strategy back into our commercial core. Individuals are much more likely to take a long view and not the micro-second shifts in share values.
Step 2. Shareholder voting rights removed from Institutional hands. Votes only accepted from verified individuals, proxy voting disallowed.
Our economics have been distorted out of all recognition. Illusionary money made out of gambles on financial outturns is just lunacy, a fictional charade but unfortunately one that is self-perpetuating. It can never be a basis for building a countries future. We have to restore common-sense, investment in people and workplaces does matter.
Step 3. Sliding scale corporate tax introduced. Enterprises able to prove investment in building and equipment and people granted lowest rates with longterm write-off whilst those making money out of gambling on financial outturns paying a crippling high rate with no set-offs.
There are a lot of social injustices that have to rectified but as a first step we have to set a limit. How extreme, how polarised can we afford our country to be, between those that have nothing, not even hope and those who have everything plus the control that wealth brings?
Step 4. A penalising high personal tax for any individual claiming residency in this country whose combined income or control of assets exceeds say 1:50 of that of the lowest paid.
So here is my challenge to all you Electoral Candidates out there, come up with a better scheme to stop this iniquitous inequality.
