Apr 13, 2014

Capitalism simply isn't working. The Popes have indicated the solution.

Capitalism simply isn't working and here are the reasons why by Will Hutton
Economist Thomas Piketty's message is bleak: the gap between rich and poor threatens to destroy us.

Capitalism isn't working. The solutions listed: 
"The solutions – a top income tax rate of up to 80%, effective inheritance tax, proper property taxes and, because the issue is global, a global wealth tax – are currently inconceivable."
Note that the solutions are all cutting from the rich.

More attention should focus on the other end, the poor.

Both the current Pope and the previous Pope have indicated the solution that focuses on the poor.

This is what Pope Benedict XVI  says about justice and social doctrine (in Encyclical Letter. Caritas in Veritate):

Justice "prompts us to give the other what is “his”, what is due to him by reason of his being or his acting."

Citizens should get citizen dividends by reason of being citizens. Just for being citizens, we should get our citizen dividend. We citizens own the country's common wealth or public asset. The injustice is that almost all governments confiscate 100% of our citizen dividend.

This is what Pope Francis says: restore to the poor what belongs to them.

Yes, restore the citizen dividends back to the poor. The dividends belong to them, and to everyone. The rich don't mind losing their citizen dividends, but to the poor, the citizen dividends are critical.

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