Need of the hour for India and World is wealth ceiling. Today’s socio-cultural-political system is allowing a single person to earn as much as possible either genuine or ingenuine ways. A person can earn as much as money, properties/realty, vehicles, jewel, invest in share markets, unlimited savings or bank balance, unlimited investments as long as he/she pays tax to the government appropriately. One can hold any amount of capital.
This unlimited hoarding of wealth in multiple aspects leading to poverty in the world. Wealth ceiling is not a recommended practice for all humanity for all the periods or time. It is a medicine for the side effects of excess practice of capitalism in current world.
There is no philosophy fits all in all the time. Wealth ceiling could not be implemented 70 years back when the human world was healing after world wars and colonization. Those time the medicine was capitalism. But today we are suffering from capitalism and globalization. Globalization was the medicine to stagnant economy of 1990s. From 2000 onwards globalization took the world economy to next level. That was a cure to the disease which world was suffering 30 years back.
Too much of anything is bad. Too much of capitalism or globalization is also bad. Now world has to distribute the wealth, resources across many people evenly as much as possible. Forcibly governments across countries have to implement wealth ceiling.
For example, an individual should not hold more than 5 lakhs rupees bank balance. If any amount deposited more than 5 lakhs, then government will take the excess amount and use it for people welfare plans. An individual should not buy property more than 3000 sqft of plot or home from realty. There should be limitation of jewels (gold/silver/platinum) allowed to posses by an individual. So 400 grams of gold is the cap. Government will confiscate more than that.
Agriculture land possession can be exception to this wealth ceiling, because large scale farming is better than small scale forming.
In terms of salary, bank balance, realty property, gold possession, share market investments there should be ceiling for an individual as how much maximum he can own.
This should be applicable to all the individuals – politicians, government employees, businessmen, industrialist, etc. Any individual tax identification number(person) should have a ceiling. Exceptions are to corporate, public limited, private limited companies based on how many employees working there and how much salary distributed.
This is will dilute the material interests of people. People will stop boasting about salary, wealth, economic status, designation, positions and etc. People will not be stressed out in job, because they know they have a salary ceiling. Businessman will not cheat or overdo the business for more profit, because, the more they earn will be confiscated by government.
There will not be political and bureaucratic scam or bribery. No use of making more money when you have a ceiling on your wealth.
There were times, when man can marry multiple wives at a time. Nowadays, this practice of polygamy is extinct. Social awareness and legal systems helped to remove polygamy from the society. Many social evils on women are eliminated from the society by government and legal system.
Excess wealth with an individual is a social disease like obesity – excess body weight.
Our society is severely affected with a disastrous hunger for wealth. Employees want more salary, businessmen want more profit, education has become a profitable business, healthcare is a profit making business, hotel, food… everything running for profit, more profit. Service is ignored, profit is focused. Need of the hour is profit ceiling.
This will change the people’s mind set towards material values. People’s belief and value system will change. Welfare governments will rise and profit making governments will disappear.
With more money, scam free honest government can provide education, shelter, healthcare, basic needs to all the people evenly.
More employment will be created instead of high earning few individuals. Jobs will be distributed as well as salary too.
We need to take the medicine of Wealth Ceiling before we die due to excess consumption of globalization and capitalization.
This is not a permanent approach towards wealth. After 50 years from now, this wealth ceiling can be abandoned. There is no rule applicable to all the time. Medicine as per disease and till we have disease. Once disease cured, stop taking medicine, live normally.
Our society is severely affected by a disease called Greed. We greed for more marks in education. We greed for more salary in employment. We greed for more profit in business. We greed for more properties, assets. We greed for more jewels. We greed for more. We greed for more material wealth. We greed for more status, we greed for more fame, we greed for more recognition, we greed for more want.
Wealth ceiling is a right medicine to cure this Greed for More.
The current socio-political-economic system is allowing individual wealth hoarding without limits even genuinely. It is accepting the greed legally. As on date, greed/excess is not a crime, might be sin, but not a crime as per current legal system. The system has to change and stop wealth hoarding without limits and enforce limiting on greed or excess.