I fight against inequality, on the side of the opportunity enablers, not on that of the wealth redistribution profiteers
But I come from a country, Venezuela, where a Minister of Education belonging to Hugo Chavez 21st Century Socialism stated: “The campaign against poverty should not help to move up the most needy to the middle class, since that could cause these to become ‘escuálidos’”, meaning opposition.
Thinking back, what got me started on that, was an experience as the first diversification manager at the Venezuela Investment Fund that was supposed to manage oil revenues, 1974, a post to which I resigned after only two weeks, having convenced myself it was all just a cover up for politicians and technocrats to do what they wanted with our oil revenues.
So, as you can understand, I have experiences which lead me to believe that the worst part with taxes, is quite often not the tax evader, nor the taxman, but the tax revenue abusers. And so, when thinking about the need of fighting inequality, the last thing I want is for that fight to fall into the hands of any wealth redistribution profiteers... be those profits financial or political.
So what could we do? Perhaps all of us citizens could deposit annually 10% of our income and 1% of wealth in a Big Pro-Equality Pot, and thereafter just share it all out in equal parts among all of us citizens. There should be no or absolutely minimum government intervention, and the operations could be contracted out to the debit card company that charges the lowest fees. Any citizen paying into the pot more than what he receives, should of course be able to deduct that difference from his ordinary taxes.
The beauty of that wold be that since the Pot would be strictly a citizen to citizen responsibility, which did not involve any Sheriff of Nottingham taxman, it would be so much easier to apply social sanctions for its avoidance.
But, much much more important than any ex-post wealth redistribution, is the ex ante enabling of opportunities, since only that could help us all to move forward.
For instance I have been fighting for soon two decades, against the credit-risk-weighted capital requirements imposed by bank regulators that favors the access to bank credit of The Safe, like the “infallible sovereigns”, the AAArisktocracy and housing. And that thereby odiously discriminates against the access to bank credit of "The Risky", like SMEs and entrepreneurs.
PS. There's a world of difference between a redistribution of wealth cost of let us say 2 percent and one of 80 percent.
PS. #WEF #Oxfam #Davos What is the wealth of 62, $1.76 trillion, divided by 3.6 billion? What happens the day after if that inequality is gone? The problem is not that some are wealthy but if how they became wealthy blocks the opportunities of other.
PS. My Tax Paradise
PS. In fact “The wealth of 62 richest equals that of 3.6 billion poorest” is a deviously false and odiously divisive statement
PS. Universal Basic Income is being studied and the redistribution profiteers will do all they can to have it fail.