Forum Post: Nothing breeds fairness faster than visibility

A New Money System

Develop an international system that is wide open, totally visible, immediately traceable, and completely accountable.

Establish a Worldwide Compensation System by which people would be given Credits for services rendered and products produced, and Debits for services used and products consumed. Everything would be on the system of Credits and Debits. Returns on investments, inheritances, winnings of wagers, salaries and wages, tips and gratuities, everything. And nothing could be purchased without Credits.

There would be no other negotiable currency. And everyone’s records would be open to everyone else. It has been said, show me a man’s bank account, and I’ll show you the man.

People would, or at least could, know a great deal more about you than they know now. But not only would you know more about each other; you would know more about everything. More about what corporations are paying and spending—and what their cost is on an item, as well as their price.

Can you imagine what corporations would do if they had to put two figures on every price tag—the price and their cost? Would that bring prices down, or what! Would that increase competition, and boost fair trade? Imagine the consequences of such a thing.

Under the new Worldwide Compensation System, WCS, the transfer of Debits and Credits would be immediate and totally visible. That is, anybody and everybody could inspect the account of any other person or organization at any time. Nothing would be kept secret, nothing would be “private.”

The WCS would deduct 10 percent of all earnings each year from the incomes of those voluntarily requesting such a deduction. There would be no income tax, no forms to file, no deductions to figure, no “escape hatch” to construct or obfuscation to manufacture!

Since all records would be open, everyone in the society would be able to observe who was choosing to offer the 10 percent for the general good of all, and who was not. This voluntary deduction would go toward support of all the programs and services of the government, as voted on by the people. The whole system would be all very simple, all very visible.