The Capital Homestead Act is a comprehensive national economic strategy for empowering every citizen of a nation, including the poorest of the poor, with the means to acquire, control and enjoy the fruits of productive corporate assets.
This long-range agenda involves major restructuring of tax systems and central bank policies, such as those of the Federal Reserve or the Bank of Canada, to lift unjust artificial barriers to more equitable distribution of future corporate capital and faster growth rates of private sector investment. It would shift primary national income maintenance policies from inflationary wage and unproductive income redistribution expedients to market-based ownership sharing and dividend incomes.
The Capital Homestead Act's central focus is the democratization of capital (productive) credit. By universalizing citizen access to direct capital ownership through access to interest-free productive credit, it would close the power and opportunity gap between today's haves and have-nots, without taking away property from today's owners.
The Goals of the Capital Homestead Act
As summarized below, the Capital Homestead Act is designed to:
- Generate millions of new private sector jobs by lifting ownership-concentrating Central Bank credit barriers in order to accelerate private sector growth linked to expanded ownership opportunities, at a zero rate of inflation.
- Radically overhaul and simplify the Federal tax system to eliminate budget deficits and ownership-concentrating tax barriers through a single rate tax on all individual incomes from all sources above basic subsistence levels. Its tax reforms would:
- eliminate payroll taxes on working people and their employers;
- integrate corporate and personal income taxes; and
- exempt from taxation the basic incomes of all citizens up to a level that allows them to meet their own subsistence needs and living expenses, while providing "safety net" vouchers for the poor.