Forum Post: Ways to Improve and Equalize the Economy
Posted 13 years ago on Oct. 14, 2011, 3:36 p.m. EST by SirReasonable
(13)
This content is user submitted and not an official statement
By Sir Reasonable
Idea 1. Improved opportunities for returns on each dollar for individuals with no minimum investment cost in addition to increased jobs and more start-ups through an online venture capital firm that requires no minimum investment cost.
An online venture capital firm sanctioned by the government that uses digital signatures as equity ownership would provide the US with more corporate growth, more jobs, and better returns for those who cannot afford to invest large amounts.
The 1% continues to make more gains on their dollar, because the banks give them higher interest rates, they are able to invest in venture capital firms, and they can afford to buy low risk, high gain stocks. By giving the every day man or woman the ability to invest in venture capital, they assume the ordinary person can still assume the same risks, but with diversification can stand to make more than the 1-2% interest they receive from the banks. With more money going towards start-ups and more gains for those investing, the economy will be boosted and equality is more possible.
There should be no minimum investment cost - $1 dollar is equal to one share - each investment will be analyzed by a team of venture capitalists who assess the investments viability and receive a small percentage for determining if it is viable and how many shares they need to issue to the general population.
Individuals could stand to gain 10 to 100 to 1000 dollars off a single dollar in perpetuity, depending on the investment or they could lose it all, but their choice of diversification will allow for a modestly handsome gain over the bank.
The content was too long to post all the ideas in one, please review the first few comments to see them all.
Idea 3. Why not allow the option for investors to have 100% reserve banking. These people would be paid out first in the event of a collapse of the banking system, since their money would just be stored. Give me all the fees you want to give me, but provide me with a secure place to store my money without ANYONE using it.
Idea 4. Tax ALL corporations regardless.
Idea 5. Major increase on taxes for those making more than 1% - up to 75% or more. This would provide for more equality and give the government more money to create that equality.
Idea 6. The creation of another government sector of people whose job it is to track politicians and monitor their every move. This will prevent back-end deals like tax breaks to corporations and laws bent to help specific organizations. A POLITICIAN IS A PUBLIC FIGURE, MAKE THEIR LIVES ENTIRELY PUBLIC. IF THEY CAN'T HANDLE THE HEAT, THEY SHOULDN'T BE IN OFFICE, BECAUSE THEN THEY KNOW THEY'VE GOT SOMETHING TO BE GUILTY OF.
Idea 7. No corporation can donate to a political party.
Idea 8. Presidential Training School
I've got more ideas, just want to see the responses first.
Idea 2. Transparency of the banking system and investment firms through an online database and review site:
Banks are just as much of a gamble in life as anything else. They need to be bailed out, they lose money at times, and they gain money at times. The problem with banks is that they take YOUR money and make huge returns or risky investments and give you VERY LITTLE return, whilst keeping all the gains for themselves. It is YOUR money they are investing and they are making anywhere from 3-10% or more on it and giving you back often times less than 1%
When the banks foreclose on a home, they own it. If its YOUR money they're investing, why should they make most of the profit from its sale?
If the bank owns your mortgage, why should you pay the property taxes?
The banks spend greedily and freely. If their employees stay late for even an hour or two at night, they give them a free ride home to wherever they are. I urge you to stand outside just ONE bank and count the number of cars that drive employees home. I estimate the total number of cars for all banks is somewhere over 1000 and they cost around $100 each, that's $100,000 every day. Multiply that by the number of work days per year. That's $26 million dollars per year that the banks unnecessarily spend, that they could be giving back to the people WHOSE MONEY IT IS IN THE FIRST PLACE. If that's just ONE perk, imagine how many OTHER perks they must give their employees - IMAGINE THE MONEY THEY ARE NOT GIVING BACK TO THOSE WHO INVEST IN THEM.
Therefore, all financial institutions should be required to report their revenues, costs, and profits. Individuals will judge which banks to invest in based on the profits they return to the investors. If we all withdrew our money from the banks for their greediness, they would crumble and we would have a very poor economy. I AM NOT SUGGESTING THIS. ALTHOUGH, THE BANKS NEED TO BE TAUGHT A LESSON.
The review site will post reviews on all investments in the US and will keep track of how much money each person is getting for their dollar and how much money the bank is keeping for their dollar. The problem - THE BANKS THINK THEY ARE SMARTER THEN EVERYONE ELSE. MANY PEOPLE CAN DO FINANCIAL PROJECTIONS AND CHECK CREDIT SCORES AND ASK FOR DOWN PAYMENTS. WHY DO YOU DESERVE 9% AND MYSELF 1% FOR EVERY 10% YOU GAIN ON MY MONEY.
So I've lost track a bit, but back onto the review site - it would lead to encouraging more banks to be more equitable to their investors. For private investment firms it would prevent Ponzi schemes, because people would be anonymous, but you'd see who's making what and where all the money is going. Money should not be a private thing. LET'S MAKE MONETARY TRANSACTIONS TRANSPARENT.
Maybe I missed this but shouldn't the bank investors, I.e. those who use banks to hold their money, be granted profit sharing in the bank based on the publics investment. This way the banks wealth trickles back into the economy based on the dollar amount the public is investing?
That's what the point is - I was more or less beating around the bush, saying invest in banks that give more back to the people.
I like it. I think this is the point of nationalizing the banks. I wish Obama had "nationalized" the banks then sold them back out to the public via the free market, basically foreclosing on the banks and liquidating their assets, like the banks do to the public. This would ave broken up the big asking monopolies, thus creating more wealth competition, creating mre wealth, and the public would have a vested interest in market creation, making us all own the economy.
Please watch this video, It may help come up with more: http://www.youtube.com/watch?v=_3Qz1C-dAGc
What we need to aim for is world wide legislation that gives shareholders a direct vote in executive remuneration. It would be great to have worldwide restrictions on executive wages - something like no one in the company can earn or be rewarded in any way more than 20 times that given to the lowest paid worker or contractor in that company.
Please read all the comments.
Idea 9. Debt interest freezing on those who are unemployed or unable to pay off their debt.