I listened to the discussion so far. The proposed system is still capitalism, but with some tweaks. IMO rather clumsy tweaks since there’s no clear definition what common good even is.
And instead of some point system, you can just collect taxes to finance welfare for citizens, which is exactly how EU economies work. In most cases taxation is progressive so it’s not like rich CEOs aren’t paying exponentially more than avg citizen.
In the US, progressive taxation gets called communism, lol.
But yeah. That’s kinda what I meant with my original comment. The more progressive EU economies are, to my understanding anyway, outcomes from the more reformist socialist traditions - using the existing democratic government to round off the excesses of unregulated capitalism. And I would take that any day of the week.
I listened to the discussion so far. The proposed system is still capitalism, but with some tweaks. IMO rather clumsy tweaks since there’s no clear definition what common good even is.
And instead of some point system, you can just collect taxes to finance welfare for citizens, which is exactly how EU economies work. In most cases taxation is progressive so it’s not like rich CEOs aren’t paying exponentially more than avg citizen.
In the US, progressive taxation gets called communism, lol.
But yeah. That’s kinda what I meant with my original comment. The more progressive EU economies are, to my understanding anyway, outcomes from the more reformist socialist traditions - using the existing democratic government to round off the excesses of unregulated capitalism. And I would take that any day of the week.
IMO income tax in general does more harm than good. My opinion is that government budget should be financed by taxing consumption.
If you’re trying to build your wealth and take advantage of compounding interest, income tax (especially capital gains tax) absolutely crushes it.