I recently saw a Guest Post on the Whaleoil Blog and I actually have some strong opinions about it myself. On some level I agree wholeheartedly to the article. The money system IS failing us causing a HUGE divide between the haves and the have-nots.
I agree that ALL parties find this a contentious issue leaving the problems of a failing capitalist system to future Governments when the whole thing blows up. Relying on the derivatives market and being laden down with HUGE debts WILL ensure that all future citizens in ALL the wealthy countries will come crashing down in a sea of austerity. Why, you may ask? Because we simply cannot keep going and borrowing money to pay for services for the current Government. Since National came to power we have ballooned from 12 Billion Dollars Debt to over approximately 100 Billion Dollars Debt. Part of which was stimulated by the Christchurch earthquakes. However, we have an unhealthy appetite for borrowing money we can ill afford to pay back without a HUGE intervention. More taxes anyone?
Our system fails because the vast majority of the citizens pay EVERYTHING to the rich, the one percent at the top. Is it ever trickled down? You bet your bottom dollar it’s not. Instead the wealthy continue to make healthy profits on each and every one of us and to a detriment to our economy.
Money stashed away in trusts and savings accounts do not stimulate the economy and do not contribute to growth. And money that is not fairly taxed, another loophole that needs to be fixed, allows companies and trusts to siphon off profits and avoid tax, legally of course.
The sooner we can bridge the gap between those at the top and those at the bottom the better. However, it’s amusing to see those at the top are in charge of our Governments and do not take these measures for fear of ending the gravy train. There’s no real incentive to help people.
So where does that leave us, the humble citizen. Well to put it bluntly it leaves us at the bottom of the barrell picking up crumbs left behind from our great masters.
Will this be the end to the monetary system? Probably not, but current Governments are advised to start looking after their citizens now. Poverty and Homelessness as well as Health is at an all time low. Too many people are suffering. And the sooner we sort it out the better. We need a more straight forward tax system that makes every individual and entity pay it’s fair share including Non-Profits, Trusts and Churches or Mega Businesses that load profits offshore. We need a PROPER budget and infrastructure to cope with the influx of new people and to accommodate all those in need of Health, Education, Homes and Jobs. We need intervention now. Not next year, not when we have a surplus. We should create these opportunities now.
Yes we live in a capitalistic society. Doesn’t mean we should forsake others to build our wealth. The responsibility lies with every individual that we do the right thing. It starts at the bottom as well as the top. Let us all become accountable and follow through. Great things can be accomplished with a little vision and a passion for helping people get a good start in life. Let’s start our project now!