If I am Elected President: Chapter Three

IF I am Elected President: Chapter Three

If I am elected president, I will totally revamp our economic system. I will initiate both a federal minimum wage and a federal maximum wage. There will be limits to the amount of profit that individuals and corporations may earn. There will be restrictions placed on how much one can leave as inheritance. Our economic system will be based on the amount of work, the quality of the work, and the benefit that the work brings to the common good.

No man or woman should work forty hours a week and not earn enough to pay for the basic necessities of life. The federal minimum wage will be based on the cost of living in a particular area, and the value of the labor input of the individual. A man living in San Francisco will need more money to support his family than a man living in Modesto. A man living in New York City will need more money than one living in Trenton, New Jersey. His wages should reflect what it would cost him to live in a particular area. Of course, there are many advantages to living in San Francisco and that will have to be taken into consideration when figuring minimum wage. A man who lives in Modesto and commutes to San Francisco to work will be giving some compensation for his commute.

Most minimum wage jobs are in the service industry. A man who makes hamburgers in a fast food restaurant contributes to the profits of the restaurant. One factor is deciding his pay should be how much he contributes to the profit of the organization. Aside from paying a basic minimum wage all companies will develop a profit sharing plan to encourage their employees to contribute as much as they can to the overall profits of the company. The higher the minimum wage the better it will be for the company as the employee will have more money to spend, and the company can expect more buyers for its goods.

Minimum wages will be enacted worldwide. One condition for countries to be in the One World Organization will be that they enact minimum wage laws. Again the wage will be based on the cost of living, and the contribution of the employee. With worldwide minimum wage laws no country will be able to export jobs to a country where it can pay less to the labor force.

If elected president, I will also establish a maximum wage law. No company executive should be able to earn hundreds of times more than the employees that do the actual work. One source says that the average American worker made $40,000 in 2005. At the same time there were company C.E.O.’s who made as much as fifteen million dollars for a year’s work. That is 375 times more than the average employee. In making that enormous salary the millionaire is doing harm to the over all economy. If the C.E.O. made ten times what the average employee made, he would earn $400,000 a year. That seems to be enough to support a more than modest lifestyle.

The profits of a company should be divided among the owners and workers according to what each contributes. The owners deserve a little bit more, but not hundreds of times more. There are those who would argue that there would be no incentive for owners to risk their capital if they were not allowed enormous profit. However, if they were able to see that we are one people they might realize that what they do for the general good helps them just as much as having private jets and country estates.

If I am elected president, I will make sure that maximum wage standards are set worldwide. No more will there be Arab princes who live in fairyland castles while their subjects barley survive in cardboard shacks. As the wealth is distributed more equally, the people will become more educated. Standards of living will rise. One of the main causes for war and revolution will be eliminated.

If I am elected president, tax laws will be changed so that the wealth of our nation may be more equally distributed. Billionaires will have to pay much higher taxes to help eliminate the national debt. In order to eliminate poverty and homelessness, tax credits will be given to those who earn less than a livable wage or who are unemployed. In order to qualify for tax credits one will have to agree to go back to school or take job-training courses. No one would get tax credit unless he or she was making an effort to improve his life.

The middle class would pay much less in taxes than they do now. However, everyone would be expected to make some contribution to the common good. People could earn tax credits for tutoring and helping those who are illiterate to learn to read. Tax credits would be given to those who helped unskilled workers to learn specific skills. Tax credits would be given to those who helped with community clean up and beatification.

As part of my economic reform, I will enact strict regulations on the banking and credit card industry. Banks and credit card companies will not be allowed to charge more than five percent interest. There will be a limit on fees that they can charge in addition to the interest. Banks and credit card companies will be limited in the amount of advertising that they can do to bring in new customers. They will not be allowed to solicit college students. Citizens will be encouraged to save money rather than to borrow. There will be a limit on the amount of money that consumers can borrow.

Politicians will be limited in the amount of money that they can earn. No politician will be allowed to earn more than a ten times the average wage. There will be limitations on the amount of gifts and money that a politician may receive from his constituents. All gifts will be made public. We will eliminate most lobbying. Politicians will serve the public and not the bosses and captains of industry.

If I am elected president, I will restrict the amount of money that one can leave to his or her heirs. There will be a strong inheritance tax that will prevent the establishment of a wealthy upper class. People will be allowed to pass on property and farmland, but not more than what can be lived on and worked by an average family. We will expect everyone to earn his own way in life and not live off of his or her ancestors’ efforts.

If I am elected president our economy will be based on an equal share for all who are willing to put in a hard days work. We will expect everyone to work not just for his or her own benefit but also for the common good.

If I am elected president I will make sure that the homeless have homes and that every man and woman will have a dignified job. Emphasis will be placed on education and moving up to higher skilled levels in whatever field you may be employed in. We will eliminate poverty and at the same time do away with obnoxious wealth.