A Proposal for Sharing Our National Wealth

Anyone for limiting earnings, curbing fortunes, and guaranteeing incomes?

What if we were to share our collective wealth? What if we were to use the tax code to limit annual earnings, curb personal fortunes, and provide for guaranteed incomes?

How’s this for a program?

• Cap personal fortunes at $600 million

• Limit annual income to $12 million

• Limit inheritances to $60 million

• Guarantee every family an annual income of $45,000.00 (1)

• Free college and vocational training for all

• Pensions for all persons over sixty

• A thirty hour work week

• A four week vacation for every worker

In today’s political climate, a tax package like this would be an absolute non-starter in Congress, don’t you think?

What if I were to tell you that this proposal (with dollar amounts adjusted for inflation) was made and widely discussed in……..1934?

U.S. Senator (and former Louisiana governor) Huey Long conceived and advanced the program, which he dubbed as “Share the Wealth – Every Man a King”. (2)

Widely admired and widely reviled, Long was (in my opinion) one of the most remarkable politicians in American history. I’ll offer a brief biography at a future time.

Sources:

(1) All dollar amounts are adjusted for inflation since 1934 using https://www.usinflationcalculator.com/

(2) https://www.hueylong.com/programs/share-our-wealth.php