Greed, the psychological (self-centered, narcissistic, and alienating) have to accumulate increasingly more materials wealth on the expense of others, is itself a product of, and is DRIVEN BY INSECURITY and FEAR. Shylock in Shakespeare’s Service provider of Venice, Scrooge in Dicken’s Christmas Carl, and Mr. Potter in This American Life are all self-centered, narcissistic, alienated icons representing the difficulty of greed within the annals of literature.
At the moment’s poster boy for greed is presently occupying the White Home. As Mary Trump’s new e book, “Too A lot and By no means Sufficient” so clearly paperwork, Donald Trump has spent his complete life operating on a treadmill in an effort to reside as much as his father’s expectations. However no matter what he’s finished, it’s by no means been sufficient. The emotional illness referred to as greed can by no means be happy! His insecurities and fears drive Trump (alongside together with his billionaire friends) to build up increasingly more wealth regardless of tens of millions of Individuals who’ve misplaced their jobs, their medical health insurance, and any sense of financial safety and household stability because of the COVID 19 virus.
We Have fun Greed in America
However American tradition in 2020 tends to have fun greed. We now name it SUCCESS. Folks like Warren Buffet, Invoice Gates, Mark Zuckerberg, Jeff Bezos, Elon Musk, Mike Bloomberg, and Mark Cuban (GW Bush, Mitt Romney, and Trump all inherited their fortunes) are thought-about celebrities primarily due to their potential to build up boatloads of fabric wealth. Within the meantime, over half of all Individuals live getting ready to poverty – if not homeless and ravenous within the wealthiest nation within the museumbola historical past of the world. Disgrace on America!
Granted, most of those so-called American success tales donate tens of millions of {dollars} to charity. It’s good PR. And their fellow residents conventionally applaud such “generosity.” However, every one in all these “icons” helps an financial system that PREDICTABLY PRODUCES BOATLOADS OF POVERTY every day of the 12 months. The query that I wish to pose right here is, what can we do to systematically decrease (if not eradicate) poverty, financial instability, insecurity, concern, anxiousness, in addition to poisonous greed that too usually outcomes from it? In different phrases, how can we systematically democratize America’s free-market economic system?
$4 Trillion {Dollars} VS $12 Thousand {Dollars}
Take into account the next FACTS. On common, the American economic system grows on the price of $4,000,000,000,000 (sure that’s 4 trillion {dollars}) yearly. That interprets into about $12,000 for each man, girl, and baby in America. However typically talking, the beneficiaries of this annual development are presently restricted to these individuals who can afford to purchase the shares, bonds, actual property, and technological developments that account for this development.
Extra particularly we’re speaking about lower than 10% of Individuals who’ve the means to benefit from this comparatively predictable development, and 90% who lack the chance to take part. Thus, we now have a twenty first century wealth hole that’s wider and extra poisonous than any time because the inventory market crash of 1929 and the Nice Melancholy which adopted in its wake.
To make issues worse, this was the case lengthy earlier than the present pandemic oriented financial disaster raised its ugly head. In response to tens of millions of staff shedding their incomes and healthcare because of the virus, the Federal authorities has elevated unemployment advantages for a number of months, and issued so referred to as “stimulus checks ($1,200)” to tens of millions of individuals in an effort to artificially jump-start demand and to forestall the ship of state from sinking into oblivion.
Unpalatable However Needed Steps
In taking these unpalatable however needed steps the federal government has considerably elevated the already huge debt load, which implies it’s a short-term not a long-term answer. The hope in fact is to artificially resuscitate demand, which in flip ought to recreate jobs and get we the individuals again to work and lead us all again to the place we had been earlier than the virus struck.
The issue is that, even earlier than the virus struck, we the individuals weren’t in an excellent place. Even earlier than the virus erupted over half of all Individuals had been dwelling paycheck to paycheck, unable to afford a $500 bump within the highway with out having to borrow cash in an effort to pay for it. Issues are dramatically worse than they had been a number of months in the past earlier than the virus. However the place we had been continues to be not the place to which we the persons are longing to return. So, what can we do?
The $4 Trillion Greenback Concept That Creates No Debt!
In that mild let’s recall that on common, the American economic system grows on the price of $4 trillion {dollars} yearly. As soon as once more, that interprets into about $12,000 yearly for each man, girl, and baby in America. However the beneficiaries of this annual development are those that can afford to purchase shares, bonds actual property, and new know-how. This typically excludes we the individuals.
The query I wish to increase now’s, how can we ensure that the typical American has systematic entry to the possession facet of the economic system, the place MOST OF THE WEALTH IS BEING GENERATED? How can the typical Joe achieve entry to that $4 trillion {dollars} of predictable development in an effort to generate a second stream of funding earnings, whereas eliminating the concern and instability that so many Individuals endure from in in the present day’s extremely imbalanced economic system?
Take into account the Following Risk…
• What if the Federal Reserve, by means of native banks
• issued $12,000 of FULLY INSURED CAPITAL CREDIT LOANS
• to each American citizen (man, girl, and baby) yearly
• at 0% curiosity, and…
• allowed the mortgage to be repaid by way of future, pre-tax earnings/dividends (not from financial savings)
• together with a stipulation that these funds might solely be used to buy shares of latest and transferred capital belongings that had been predicted to generate sufficient future income to pay for his or her buy and to create predictable, stabilizing, residual incomes for his or her house owners?
This technique, referred to as “Capital Homesteading,” would price American taxpayers NOTHING. It creates NO GOVERNMENT DEBT! It creates NO CONSUMER DEBT! And, relatively than authorities debt-backed forex, the acquisition could be backed (collateralized) by actual, productive, private-sector belongings
And it WOULD NOT BE INFLATIONARY. All cash created could be immediately backed (collateralized) by the complete worth of personal sector belongings that residents would obtain insured loans in an effort to buy. Residents would really be buying newly issued, full dividend payout, voting shares of firms that want new capital belongings in an effort to develop.
What Capital Homesteading Will Do Nevertheless Is…
• Give each American systematic entry to the possession facet of the American economic system, the place most of our nations’ wealth is being generated.
• Create a residual stream of earnings for all Individuals via possession – not via labor
• END AMERICAN POVERTY,
• Stabilize household life,
• Reduce the psychological sickness referred to as GREED that so poisons American tradition
• In the long term it would assist to democratize the free market,
• Create tens of millions of latest taxpayers, thereby DILUTING and REDUCING the TAX BURDEN on those that really pay taxes
• Reduce the rising menace of synthetic intelligence in Americas’ job market
• Steadiness the nationwide funds,
• And repay our huge and ever-growing nationwide debt, and many others.
One Easy Instance
Right here’s one easy instance of how Capital Homesteading would profit the following era of Individuals. If carried out, by age10 each baby would have had $120,000 (10 occasions $12,000) invested on their behalf and paying dividends. By age 18 properly over $200,000 would have been invested and be producing dividends that may simply pay for a debt-free school schooling together with all the advantages that may observe in its wake. Completely a win/win for everybody!
On this second of political division and strife Capital Homesteading actually pays all Individuals to drag collectively, on the similar time, in the identical course, in the direction of the identical objectives! It interprets mere political speak (reminiscent of…we’re all on this collectively) into actual reside, outcomes pushed motion!It Systematically Counteracts Concentrated Wealth/Greed!
Over time, every American citizen will accumulate extra fairness, extra residual earnings, and profit from their funding earnings in a means that solely the rich can in the present day. Because the end result, the necessity for federally backed social security web packages (i.e. social safety, Medicare, Medicaid, meals stamps) will step by step fade into the sundown. Extra individuals will be capable of pay taxes, which in flip decreases the burden on these amongst us who nonetheless pay taxes. It systematically counteracts concentrated wealth/greed because it step by step democratizes America’s free-market economic system!
But This Free Market, Non-Socialistic Answer is Being Completely Ignored!!!
If the Obama administration (or any of its predecessors) had carried out Capital Homesteading, in the present day’s COVOD 19/Unemployment disaster wouldn’t be a disaster. We the individuals might afford keep at house and nonetheless have adequate earnings to climate a a lot much less extreme storm. But we’re lower than 80 days from the following Presidential election and Capital Homesteading has been completely ignored by Trump, Biden, Harris, Sanders, Warren, Booker, Klobuchar, Mayor Pete, and many others. WHY?
Capital Homesteading In Element
I confess, this commentary has been a generalized portrait in dire want of extra element. So, for a full and detailed clarification of how this technique may very well be carried out, go to CESJ.ORG and take a look at the idea that Dr. Norman Kurland calls the CAPITAL HOMESTEADING ACT. It’s an ingenious concept whose time is lengthy overdue. And it’s one superb factor that might really come to fruition as the results of this horrific, COVID 19 disaster.
Addendum…
UBI vs. Capital Homesteading Comparability
Stimulus checks are successfully a short-term type of Common Primary Revenue (UBI), an concept which has been advocated by amongst others, former presidential hopeful and serial entrepreneur Andrew Yang, in addition to Mark Zuckerberg of Fb, and Elon Musk of Tesla. Though the advised annual amount of cash issued ($12,000 yearly) is similar as Capital Homesteading, that’s the place the similarity ends. Try the variations.
Because it points insured capital credit score loans which might be paid again by way of pre-tax future earnings, and may solely be used to purchase wealth producing capital belongings, Capital Homesteading creates NO GOVERNMENT DEBT and NO COMSUMER DEBT! UBI and stimulus checks create authorities debt that can ultimately be paid again by we the individuals (not the 1% who’re spectacular at avoiding taxes) within the type of larger taxes.
Capital Homesteading systematically creates common capital possession alternative and entry to the technique of buying wealth producing capital belongings. UBI doesn’t.
Capital Homesteading systematically funds predictable and sustainable development of the economic system. UBI doesn’t.
Capital Homesteading systematically allows particular person residents to change into economically empowered and liberated by means of capital possession. UBI doesn’t.
Capital Homesteading systematically allows residents to change into economically impartial of the federal government. UBI doesn’t.
Capital Homesteading systematically generates mass buying energy by means of ever-broadening citizen possession of earnings producing capital. UBI doesn’t.
Capital Homesteading systematically creates new house owners of superior applied sciences and inexperienced development belongings UBI doesn’t.
Capital Homesteading systematically creates a rising tax base to pay the prices of presidency, thereby eliminating deficit spending and ultimately paying off the presently huge authorities debt. UBI doesn’t.
UBI/Stimulus checks are easy and rapid. That’s their energy.
Capital Homesteading requires a while (often numerous years) to ensure that advantages to build up. That’s why UBI ought to begin instantly and be phased out over time in favor of Capital Homesteading.
