The discussions around the absurdly small changes to tax on superannuation should be the start to addressing the growing wealth inequality in this country
Your idea works great as described. The system has grown beyond that though. Capitalists receive these IOUs because they own a portion of a company that owns a thing that neither the company nor the capitalist has ever had anything to do with. They receive these IOUs in perpetuty, but they never provided any contribution to the creation of anything.
Then you stack this a billion times, with IOUs servicing IOUs, amplifying the amount of IOUs, and skimming IOUs at every point from people who actually do the work, just to increase the number of IOUs held by a handful of people, until those people who contribute nothing, now hold the majority of the worlds IOUs.
I agree and said as much when I touched on this. Again, this isn’t a fundamental issue with money, it’s an issue with the way it’s allowed to be used, distributed and manipulated.
Money isn’t broken, our world and laws regarding it are.
Your idea works great as described. The system has grown beyond that though. Capitalists receive these IOUs because they own a portion of a company that owns a thing that neither the company nor the capitalist has ever had anything to do with. They receive these IOUs in perpetuty, but they never provided any contribution to the creation of anything.
Then you stack this a billion times, with IOUs servicing IOUs, amplifying the amount of IOUs, and skimming IOUs at every point from people who actually do the work, just to increase the number of IOUs held by a handful of people, until those people who contribute nothing, now hold the majority of the worlds IOUs.
This is fucked.
I agree and said as much when I touched on this. Again, this isn’t a fundamental issue with money, it’s an issue with the way it’s allowed to be used, distributed and manipulated.
Money isn’t broken, our world and laws regarding it are.