Here are some topics for discussion with an economist with a global understanding, and I look forward to teasing them out further in the future.
How would the following scenario play out?
If the maximum global personal income tax rate was 20%, up to €1,000,000 per year, there would be no need for a lot of people to try and hide income, and it would be much more in their own interest to just pay it. How much would that benefit or cost the overall tax take, taking into account that a 75% tax rate would cut in after €1,000,000?
Any individual or corporation, or their subsidiaries with over €10 million in cash or assets on deposit or lying idle for more than 6 months, would pay a deposit tax of 1% per week. This figure could be adjusted upwards, depending on how many employees a person or corporation had, but only to a maximum level of €100 million. So let’s say a company with 100 employees could hold €10 million, and a company with 1,000 employees could hold €50 million, and a company with 10,000 employees or over could hold up to €100 million.
The idea here is to keep money flowing and not to give any individual or corporation an incentive to sit on money or assets or to use large funds to manipulate markets negatively.
What are the real implications of import export taxes/trade agreements between jurisdictions to try and control each other, and how can we improve this situation? And what would be the benefit to a broader global society?
Supposing 80% of the population voted for something like the points put forward above, and 20% came from one or two countries who voted against it. What should happen if those two countries refused to accept and adapt to the new democratic decisions? Should it be that those two countries are simply excluded from foreign trade through sanctions?
Another serious benefit to the real democracy method of people power is that corporations would not be able to influence a handful of politicians, because the ordinary mass of people would have to vote on any given subject that mattered, and political corruption would be out the window.