This does not work without a drastic reduction in total government expenditure. The reason is that the majority of “wealth” is in the form of individuals’ earnings potential, but this can’t be owned (or rather, owning a share of someone’s earnings potential is just income tax under a different name).
This does not work without a drastic reduction in total government expenditure. The reason is that the majority of “wealth” is in the form of individuals’ earnings potential, but this can’t be owned (or rather, owning a share of someone’s earnings potential is just income tax under a different name).
I agree, though I’m not sure whether this will always be true. Look at the last section of my post.
I meant wealth as in physical assets, especially capital.