Bryden Allen's Website

The Rich will be prevented from getting Richer


The system, I have outlined so far, might be adequate to stop people suffering hardship. But my knowledge of rich people is that they can always be very ingenious at thinking up new schemes by which they can continue to get richer. And, if the rich are getting richer, then as a result our poor people must get poorer (because the land and resources of our world are limited). But fortunately it is physically quite easy to devise a quite accurate system by which the wealth of all people can always be checked.
            The government simply requires that every single person and company must specify to the government the assets they own. And all this knowledge must be made fully public. (In the case of mortgages then owner must come to an agreement with their bank as to the degree of equity each party has. And companies of course must specify the equity of each shareholder.) If a person (or company) does not specify their full assets then the government ceases to recognise this person’s ownership. And so the owner will fairly soon lose the asset. So all people will have a very strong incentive to tell the government what their true assets are. Then all the associated people can easily check out the truth of this stated ownership.
            So the government will be easily able to check that no rich person is getting richer. And, if a rich person does get richer then their extra wealth will be taken from them. (But a sensible rich person would probably give this extra wealth to help a person who was not rich before their

extra wealth was registered.) So the rich people can forget their fantasies of getting still richer – which is a good thing.
            I will define a rich person to be anyone who has more than twice the national average wealth. (I think the current average wealth per person in Australia is about $400,000. If this the case, then a rich person will be any person with more than $800,000 of assets.) I choose this factor of two because a person, just before they retire, can put forward a good case that they need this amount of money to cover their expected costs of retirement.
            The reason, which is always put forward against taxing the rich, is that then the rich people, who own the nation’s assets, will no longer have an incentive to work. So then industry will stagnate, and employment will plummet. But, in the case I am putting forward, this is no longer a problem. All the unemployed people will simply be re-employed in the new government-run industries. Besides this factor, the past evidence clearly shows that the rich have continued to play their part when there was very little financial gain in doing so for them. During times of war, the wealthier classes have accepted employment in the conscripted armies and there they worked and fought just as well as anyone else. The honour, and recognition of having played their part during this period of emergency, was just as important to the rich as to anyone else. I believe the same circumstance will apply during the abnormal times that I am proposing here.
            (If this system was kept in place for a longer period of time, then it would provide a superbly simple method of making sure that the assets of the country were reasonably evenly distributed between its people. This is because, when a rich person died, they would be forced to give all their assets to people who were not rich. So, after all the current rich people have died, there would no longer any rich people left. But there would be a reasonably large number of people on the brink of becoming rich. So then the assets of the country would be reasonably well distributed.)

 

So now it is time to move onto my last condition The Poor will be protected from getting Poorer.

 

 

The advantages of wealth have always been dubious. The moderately wealthy tend to get over-weight.

And the very rich are liable to be poisoned. A country is always happier if the wealth is evenly distributed among its people.

 

 

 

 

You might now also like to look back at:

my "Home Page" (which introduces this whole website and lists all my webpages).

 

Updated on 17/11/2016.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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