Friday, 7 December 2012

Ineptocracy - the cause of the deficit?

Ineptocracy - (in-ep-toc'-ra-cy) -
'A system of Government where the least capable to lead are elected by the least capable of producing, and where members of society least likely to sustain themselves or succeed, are rewarded with goods or services paid for by the confiscated wealth of a diminishing number of producers'.
The above definition of Ineptocacy could easily be read in two ways ... a dig at the poor and/or least able ... or a dig at the ultra-rich who misuse power and add no value, but gain wealth from ponzi ('money for nothing') schemes (eg counterfeiting money/gambling) and/or from the backs of hard working people who are actually adding all the value (but paying most of it back in tax - e.g. income tax, national insurance and 20% VAT) ... whilst the ultra-rich accumulate more wealth, more tax cuts and pay accountants to find any possible avoidance scheme so they can avoid paying any tax at all! **

The biggest problem by far is in fact the latter ... tax needs to be applied to non-productive ways of generating wealth (gambling, land, housing) as a matter of urgency ... and income tax for those adding real value reduced ... these actions together would both remove the black hole in the countries finances and reward producers who add real value!

Can this be done? ... of course e.g. by introducing a land value tax! ... However, those currently in power would never allow this to happen as it is not in their interests to do so ... as they want to be able to continue to make money from nothing ... and off of the backs of others ... and will fight tooth and nail to be able to continue to do so!   

Ignorance is not bliss ... and Poweromics is evil.

** We've started flushing out companies avoiding tax (e.g. Starbucks), but we need to expose all the individuals involved in this practice too ... starting with those with their grip on Power!