Nations worldover including some of the most advanced nations have economic difficulties. One of the greatest challenges for most nations is addressing poverty.
While all permutations and combinations of economic plans and schemes have been formulated to effectively resolve them, there has been no effort to correlate poverty with wealth accumulation.
No nation had ever tried to resolve poverty by curbing wealth accumulation by the wealthy.
Although nations have earning ceiling on what its employees can earn for a particular job, there is no such ceiling for what an individual can accumulate in his lifetime. The wealthy are ironically a pampered lot, whom the governments wanted to please. The wealthy were treated like showcase dolls, always kept in a good condition, in a prominent place for all to see. The capitalist regimes with its market ideologies and policies facilitated and enabled few individuals to accumulate wealth, at the unseen cost of a larger society.
While income taxes increased with earnings, this in no way could discourage or stop the wealthy from accumulating more and more. The wealth of the wealthy multiplied with time, despite all high taxes. Against the face of absurd poverty as we see today, the question now become obvious as to why governments didn’t consider fixing an upper ceiling for the earnings of individuals. Why didn’t regimes make it illegal for individuals to earn beyond a certain limit?.
Why did the law facilitate individuals to make so much money that the individual would never use it in his lifetime? His continued obsession of making money had made the fight difficult for individuals seeking their fundamentals. Individuals should be prevented from making money beyond a certain limit, together with a state guarantee that he shall not financially suffer. The modalities and the limits could be debated.
Instead of voluntarily seeking an earnings ceiling, the wealthy show out their concern in the guise of charity. A society can benefit only when the elite give up their effort to make more money, than to make that money and distribute it as charity. We need to introduce a limit to the insatiable money greed of the elite.
It is high time for governments around the world to introduce ceiling limits on income earnings by individuals, and make life easier for the non-elite. No more charity gimmicks.
