Reviving Fairness in Capitalism: Ending Wealth Redistribution to the Top

The current system of wealth distribution in the United States is heavily skewed, benefiting the rich while exacerbating inequality. This article explores the root causes and proposes practical solutions to address issues related to corporate welfare and crony capitalism.

Understanding Wealth Creation and Redistribution

One of the core misunderstandings about wealth is the belief that it is 'distributed' or 'redistributed' to the top. In reality, wealth in capitalist systems is created primarily by the wealthy and powerful. This is not inherently problematic; rather, it is the system of corporate welfare and crony capitalism that must be addressed.

The Federal Reserve's Quantitative Easing (QE) and the consequent rise in asset prices, such as stocks, real estate, and cryptocurrencies, are often seen as a boon to the wealthy. However, these actions also create asset bubbles. When the Fed stops QE, these asset prices will inevitably drop, negatively affecting those who benefit from the current system rather than those who have fewer financial resources.

The Myth of Corporate Communism

The term 'corporate communism' is often used pejoratively to describe the concentration of wealth and power. However, capitalism and communism are fundamentally different systems. To equate the two is misleading. Corporate welfare and crony capitalism are more accurately described as 'corporate welfare' or 'crony capitalism'.

Corporate welfare refers to the support and benefits given to corporations, often at the expense of the public good. Crony capitalism involves the creation of favoritism and corruption, particularly within government and business. Both are symptoms of an outdated and biased system that needs to be reformed.

Addressing Wealth Inequality

To reverse the trend of wealth being concentrated at the top, a comprehensive approach is needed. This involves a combination of legislative action, public awareness, and grassroots mobilization.

One strategy would involve implementing a massive grassroots letter-writing campaign targeting the 30 Democratic congressmen who sit on the House Appropriations Committee. The message should be clear and compelling: taxpayers' money should be used to fund essential services, not to prop up failed government programs or corrupt agencies.

Specifically, activists can demand that Congress allocate funds for:

Appropriating resources for the IRS to combat tax evasion and provide better public services. Addressing social welfare entitlements that trap their dependent victims in an effete, effort-free, and humiliating state of indigence. Reducing the size of inefficiencies and bloated agencies.

The success of this campaign would hinge on engaging and enraging the American public, making them take a stand against corrupt practices and wasteful government expenditures.

Ending Generational Wealth

A key aspect of reversing the concentration of wealth is to end generational wealth. While it is entirely reasonable for individuals to pass down wealth to their children and relatives, once the original wealth creators pass away, the state should intervene through progressive taxation.

To achieve this, a highly progressive taxation system is necessary. This system should apply to all income from all sources and aim to ensure that the top 10% do not earn more than 1,000 times the income of the bottom 10%. Alternatively, it could be set to ensure that the top 10% do not earn more than 100 times the income of the bottom 10%.

Conclusion

Reversing the concentration of wealth to the top requires a multifaceted approach. By reforming the legislative and financial systems, empowering the public, and implementing progressive taxation, we can work towards a more equitable society.

While the path to fairness and equality in capitalism is complex, it is crucial for the well-being of all Americans. Let us work together to address and rectify the issues plaguing our current system, ensuring that everyone, not just the select few, can benefit from a just and prosperous society.