Posted 4 years ago on Oct. 16, 2011, 7:36 p.m. EST by snarls
This content is user submitted and not an official statement
The money is not gone. The plutocrats have been unjustly enriched at the people's expense.
If I am in business with someone and they breach their duty to me and are unjustly enriched, the law allows me to get back my money back. This is a common remedy that the courts enforce every day.
Society made a deal with banks: we will allow you to exist (grant you corporate form, with limited liability for your owners, and a charter that allows you to take deposits and lend money). In exchange for this right to exist and transact your business, you (the bank) agree to meet society's needs for low cost transactions and make loans to qualified borrowers.
But alas, you (the bank) went beyond what we agreed you would do in exchange for your right to exist and conduct your business. You went so far beyond what we agreed to that you brought the world to financial disaster. In the process, you amassed wealth beyond what any person is entitled. Now, we want our money back.
A national property tax would be a simple way to get our money back. While, maybe not that simple as it may require a constitutional amendment.
The national debt accrued as a result of not paying as we go. As we went, we allowed the plutocracy to amass its wealth. Now, through a national property tax, say 10% per year on all persons holding assets in excess of $5 million, we can in short order pay off the debt