Should All PRIVATE Wealth Be Confisicated In America.
Risk must be tied to reward, otherwise reward must be set free as there is no moral foundation to justify the reward.
In a nation with PUBLICLY FINANCED DEFICITS....the PUBLIC rightfully should own that which benefits from the proceeds of the financing..
It is morally reprehensible to have the public, we the people, take on the risk yet allocate the proceeds of such risk privately.
Could you imagine if we simply handed the Statue of Liberty to Goldman Sachs?
Never before in American history has the PUBLIC (WE THE PEOPLE COLLECTIVELY) financed the Government Deficit. In the past, PRIVATE individuals financed the government deficit and as such, private individuals took on the risk on whether the government would pay back the debt.
Today, it is the opposite, the needs of government to maintain our economy are so great that no private individual or foreign nation is capable for financing our requirements....unless we all empty our bank accounts and hand it over to government.
Absent emptying our "private" bank accounts, the public is simply printing money to maintain the illusion of prosperity....and thus, the public is the rightful owner of such prosperity.