Posted 12 years ago on Oct. 16, 2011, 6 p.m. EST by shinyheart
This content is user submitted and not an official statement
The rationale for our system of checks and balances in government was that the Founding Fathers did not trust human nature when it has a concentration of power. There should be corresponding checks upon the power of concentrated wealth.
The question is, can our political system fix its own systemic problems?
If so, here are the kinds of things that need to happen:
Publicly financed elections, so bankers can't write (or block) their own regulations: http://fairelectionsnow.org/
Instant run-off voting, so third parties in the US will stand a chance, because people won't be afraid that voting for third parties will throw the election to the worst candidate (e.g. Nader voters helping to elect George W. Bush) http://www.tree.org/instant.htm
Increase the top marginal tax rate to 90% like we had it in the 50's, so no one can make over ~2 million dollars per year. The idea that we need to pay executives tens of millions of dollars in order to receive top performance is nonsense. Executive compensation in countries like Japan is nowhere near what it is in the US, but their performance isn't any worse for it. The broader point is that just because you're rich doesn't mean you're socially productive, nor does it mean you're awesome. There is a highly imperfect correlation between how much money you have, how socially productive you are, and how much consumption you are "entitled to." Some people can admit that, others can't. http://www.ted.com/conversations/5989/money_doesn_t_exist_not_reall.html
Drastically increase capital gains taxes to at least what they were in the '90's.
End the wars and invest in infrastructure at home to create jobs
Create more flexible, affordable educational licensing systems: http://www.ted.com/conversations/1650/in_2011_is_it_possible_to_mak.html
And so forth.
The masses have Internet now - we demand to be treated as equals. And that's the heart of it.