Forum Post: The Solution

The key planks of the Share Our Wealth platform include: (numbers may have to be adjusted)

No person would be allowed to accumulate a personal net worth of more than 500 to 1000 times the average family fortune, which would limit personal assets to between $83.5 million (individual) and $133.5 million (family). Wholly or jointly owned productive assets which employs 10 people or more shall not be included in this personal limitation provided such asset is not utilized for personal benefit or enjoyment.

Corporations are not people, and they do not enjoy the same rights and benefits as individuals.

A graduated capital levy tax would be assessed on all persons with a net worth exceeding $16.5 million.

Annual incomes would be limited to $16.5 million; such income shall be based on monetary compensation and other forms of compensation, such as stock, options, capital gains, dividends, deferred compensation, and other benefits.

Individual inheritances would be capped at $83.5 million.

Every family is to be furnished with a one-time home allowance of 23,500 dollars upon the purchase of their first home, provided such home is not sold within five years. This is restricted to families comprised of 2 or more individuals.

Every family is to be guaranteed an annual family income of not less than one-third of the average annual family income in the United States. Such guaranteed income will include regular income as well as all forms of non-educational government assistance which will require at least 15 hour per week in schooling or volunteer work with recognized charities.

An old-age pension (Social Security) would be made available for all persons over 67. To insure the system's fiscal integrity, the FICA taxes would be paid on all income from the first dollar to the last one earned; no more cap at $106,800 of gross wages. Now the person who earns 10 million dollars pays the same total amount as the person who earns $106,800. This is regressive and unfair. These funds shall be kept in a separate account, and not mingled with other government revenue so they can be used for no other purpose.

To balance agricultural production, the government would preserve/store surplus goods, abolishing the practice of destroying surplus food and other necessities due to lack of purchasing power.

Veterans would be paid what they were owed (a pension and healthcare benefits) in a system that works for them and not against them. The pension for government workers shall not exceed the average of the three highest contiguous years of government employment. No double dipping.

Free education and training for all students to have equal opportunities in all schools, colleges, universities, and other institutions for training in the professions and vocations of life.

The expansion of medicare to all, so that we have a single payer health care system and basic medical care for all. Employees can have a deluxe overlay program with no penalty.

The raising of revenue and taxes for the support of this program was to come from the reduction of swollen fortunes from the top, as well as for the support of public works to give employment whenever there may be any slackening necessary in private enterprise.