We need to design a system that embraces this technological future and taxes the assets that will make up most of the value in that world–companies and land–in order to fairly distribute some of the…
Imagine a world where, for decades, everything–housing, education, food, clothing, etc.–became half as expensive every two years.
A great future isn’t complicated: we need technology to create more wealth, and policy to fairly distribute it. Everything necessary will be cheap, and everyone will have enough money to be able to afford it.
We could do something called the American Equity Fund. The American Equity Fund would be capitalized by taxing companies above a certain valuation 2.5% of their market value each year, payable in shares transferred to the fund, and by taxing 2.5% of the value of all privately-held land, payable in dollars.