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By Dr. Gerry Lower - When the Rich Make Too Much Money
Gardner' solution can be implemented by a very rapidly progressive tax rate similar to that in the 1950's - and by a steep Estate/Inheritance tax - with Charitable Donations and Educational Trusts fully exempt.
Sam Pizzigati has recently reported on the content of "Foreign Policy", claimed to be "the world's most prestigious global affairs journal." In keeping with its objectives, Foreign Policy has recently devoted an issue to "21 Solutions to Save the World."
Specifically, Dr. Howard Gardner, a Harvard-based psychologist, has addressed the weighty question "Is it time for a maximum wage?" Gardner argues persuasively that "one solution" to save the world "ought to be a cap on the income and wealth that any one individual can accumulate."
Gardner points out that when one person can take home an income "reminiscent of the gross national product of a small country, something is askew". With no upper limits under greed-driven capitalism (as justified with Old Testament Roman religion), the doors remain entirely open for one person to, in effect, own the entire world, with all 6 billion of us presumably living happily in servitude. Gardner proposes a two point solution.
First, Gardner proposes an income cap that limits the amount of money a single individual can annually take home to no more than "100 times as much money as the average worker in a society earns in a year. If the average worker makes $40,000, the top compensated individual may keep $4 million a year."
Second, Gardner proposes that "no individual should be allowed to accumulate an estate more than 50 times the allowed annual income. Thus, no person would be permitted to pass on to his or her beneficiaries more than $200 million."
Actually, the average income of an American family, most with both parents working, is about $44,000 per year. Under Gardner's proposal, the top compensated individual may keep only $2 million a year if calculations are based on individual income. No person would be permitted to pass on to his or her beneficiaries more than $100 million.
Specifically, Dr. Howard Gardner, a Harvard-based psychologist, has addressed the weighty question "Is it time for a maximum wage?" Gardner argues persuasively that "one solution" to save the world "ought to be a cap on the income and wealth that any one individual can accumulate."
Gardner points out that when one person can take home an income "reminiscent of the gross national product of a small country, something is askew". With no upper limits under greed-driven capitalism (as justified with Old Testament Roman religion), the doors remain entirely open for one person to, in effect, own the entire world, with all 6 billion of us presumably living happily in servitude. Gardner proposes a two point solution.
First, Gardner proposes an income cap that limits the amount of money a single individual can annually take home to no more than "100 times as much money as the average worker in a society earns in a year. If the average worker makes $40,000, the top compensated individual may keep $4 million a year."
Second, Gardner proposes that "no individual should be allowed to accumulate an estate more than 50 times the allowed annual income. Thus, no person would be permitted to pass on to his or her beneficiaries more than $200 million."
Actually, the average income of an American family, most with both parents working, is about $44,000 per year. Under Gardner's proposal, the top compensated individual may keep only $2 million a year if calculations are based on individual income. No person would be permitted to pass on to his or her beneficiaries more than $100 million.