We appear to be on the brink of global economic meltdown. The government needs to be bold and decisive. One simple Act would have these major benefits:
1. Increase financial stability.
2. Increase innovation, entrepeneurial spirit and small business development.
3. Promote equal opportunity.
4. Increase charitable donations.
5. Reduce poverty.
I've mentioned it before. Simply raise inheritance tax to 100%.
1. The government needs to get closer to balancing its books. Living people don't like being taxed. Dead people don't care.
2. People will need to earn a living, even the children of successful rich entrepreneurs cannot just sit on their arses.
3. So who does not think that aiming for equal opportunity is a good thing?
4. Even Gates and Buffett agree. Charitable donations have always been tax-exempt.
5. Charities often tend to benefit the poor. And so do higher tax revenues.
I could add a potential surge in retail sales and consumer confidence too as people decide to spend for their families now while they are still alive. And a huge immediate boost for solicitors and will writers. But that's short term. I'm talking of one simple act to provide a long term radical overhaul to the entire national economy.