Income Equitibilization not Equalization is be the answer!
Many people fear the term socialism; many consider Barak Hussein Obama to either be a socialist, or at least to have a socialistic bend.
Since there is no such thing as “pure socialism,” Obama’s attempt at income equalization is the closest approach to socialism that one can actually find in the real world. Reducing income disparity among a country populous, is a very commendable action by a county leader, but such action simply based on numbers simply does not make any sense.
An approach to reduce disparities by getting incomes to be proportionate to people contribution to whatever entity they are employedÂ by, does however, make sense. For example, for a banker whose bank looses money to get large bonuses is not something that should be not being the rule as at has been for the last few years. Private companies can judge pay by direct, or indirect contribution to profit, and be blind to race, gender, age, or and trait not directly related to the business. Those in public service should also be paid based on formulae that deal with contribution, no other considerations.
Taxing the rich more, may serve a short-term need, but a system based on contribution must be put in pace if the people are to feel that their country is fair and indeed care about its citizenry!
More to follow!