This from a comment page on the Yellen hearings: Our problem is with the the very rich, the 1%. We motivate the rest with little raises in salary and rank. It works. Even in communist Russia they could motivate atomic scientists, architects and all with a salary scale that went only to 20 or so times basic. But once you are on the Board, in the Club, you sit around and award each other hundreds of times that which is necessary to motivate. We have a graduated income tax. Escalate it to 100% on the marginal dollar at some ridiculous level, say $20,000,000. Stop up all the loopholes. Every dollar of profit to be taxed as income in someones hands. Come January reassess the amount that should have been collected to cover what the pols spent and move the 100% point up or down to cover. Either get every country on Earth to join the move or put in strict currency controls. Eventually, institute a wealth tax to bring us all back closer to what we what we can regard as an appropriate distribution. Obviously, a task for Congress, not the Federal Reserve but do we the 99% have any representation there? Im just sayin...
Posted on: Sun, 17 Nov 2013 00:32:52 +0000
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