Image by TW Collins
Fire every non-commission employee making more than seven times the median national income (all income included).
Put a 100 percent tax on all income over seven times the median, no exceptions for any type of income.
Put a 100 percent tax on on all inheritances over 50 times the median (that’s enough of a head-start on life for winning the lucky sperm contest).
Promote those who were earning less.
Secret: The people running the economy are not the best, and if they are brightest, we need stupider people. I base this on their results.
Going forward, the top income level will increase, as a percentage, equal to the average income of the bottom five percent and the median income.
This will sort out a lot of problems quickly.
First, it gets rid of the people running the economy today, who are obviously either hopeless fuck-ups or completely uninterested in results for anyone but themselves and a few cronies.
Second, it concentrates the minds of those at the top on the problems of those at the middle and bottom. They want that seven-times-the-median to be higher, so suddenly, they care about the poor and the middle class. A lot.
Third, it rather quickly deals with people with too much money now (yes, there is such a thing); if their seven-times the-median income doesn’t support their lifestyle, they will have to dip into their capital to pay for it. Because all capital gains will be treated as income, well, that should be fun.
Yes, there are all sorts of ways people can try to get around this. Plug them as fast as you find them and write the initial laws in very generous ways, like money-laundering laws. (Were you obviously trying to get around money laundering laws? If so, you’re probably going to jail. That’s how they’re written.)
Why seven times? Why not. It’s enough that no one can say they shouldn’t still feel very rich, and if they don’t, then something is deeply wrong with the median.
The general rule of policy is that policy which is good for the rich and the middle class is bad for the middle class because the rich get so much more from it. For instance, the housing bubble looked good for the middle class (and a few people won), but, really, it was so much better for the rich in that it gave them so much power along with other financial shenanigans, that they were able to gut the middle class.
Policy which is good for the middle class and the poor, or even just the poor, is good for the middle class. Poor people spend their money, and poor people who get better off become middle class people. A middle class which identifies with the poor and not the rich, will be secure, because they will support the wellspring of their own success.
There’s a bunch of moral and ethical arguments that should go into a piece like this, but it comes down to this: Every social welfare statistic worth mentioning tracks inequality, not absolute wealth, once you’re beyond the point of “enough so I’m not starving.” (See “The Spirit Level” for the nailed-down, stupidly overdetailed proving of the obvious.)
The rich are rich because society makes it possible, through aggressive enforcement of totally artificial property laws and massive infrastructure which benefits them far more than anyone else. The idea of ideas being property is completely artificial, contracts of adhesion that are standard in software are social bullshit, corporations are bundles of hugely valuable rights to avoid responsibility for losses, and all of that is before we even get to 20 trillion dollars (in the US alone) to bail out bankers who had genuinely lost everything, and that includes Goldman Sachs, because winning bets with counterparties who are bankrupt is worth ten cents on the dollar, and at that rate, Goldman is bankrupt too.
The people in charge have done a terrible job. It is a moral imperative to take that job from them and give it to people who will do it better than they do. (If they do it well, then the world and the economy won’t be so fucked.)
The people not in charge who are familiar with their jobs/businesses deserve a try.
There are bunch of things to add to this, but they all basically come down to two simple rules:
- Keep the rich poor.
- Never let money or power buy anything that matters.
A better education than normal, a jump in the healthcare queue line, avoiding airport security, flying on a private jet, avoiding traffic in a helicopter, not staying in the same hotels as anyone else. Nothing that matters. They can have nicer consumer goods, as long as they don’t matter, and that is all.
When the people running something are complete fuck-ups, you take away their power. That means their position, and as money is power, their obscene wealth. You replace them with someone else. It is that simple.
Eat the rich, or the rich will eat you.
And they have been dining well.
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