Let us begin by saying we do not advocate putting a gun
to the heads of those who are rich to take their wealth away from them. Their
children may have to stand on the same footing, or similar footings as the rest
of us, and their abilities to create dynasties may be limited, but their food,
clothing, shelter, leisure and travel should remain intact. Let us consider the
making of the wealth to begin with.
Keep economics simple. For a market to work it takes the producer-seller, the consumer-buyer, and some common rules that can be enforced by either party for their mutual benefits in facilitating fair exchanges. Means for exchange, cash, and weights and measures, safety, security, are all ultimately furnished by the state. The market cannot exist without either the producer or the consumer. There is neither supply side nor demand side economics, but market economics and the value of the market increases with the numbers, both in products offered and willing customers. There should always be a strong market for basic necessities. Therefore both production and consumption should be encouraged as we have done over the years in our agricultural policies. Scarcity of either supply or demand reduces the value of the total market, even if it allows a few to increase their share of profits.
Profit is a universal market tax applied in and by all commercial systems around the world. It is the tax currently only on the consumer for using the market. It is the most ingenious and successful tax devised by humans. All are subject to it and pay it and the complaints are few. It is only regressive if people are excluded from market necessities. Profit is taken from our second system of government, commerce, upon which all theories of property, ownership and use are developed or currently dependent. It matters not whether you use the words Capitalism, Socialism, Theocracy, Communism, mixed Democracy or follow one of those paths in your local government. All are subject to profit, which is the tax all consumers now pay for participating in the commercial world. The profiteers of the world are the tax collectors for all of our use in the world of commerce.
But the world of commerce is not their private domain. Their rights of use, and to some extent those of the consumer, are well protected in laws and customs from weights and measures to acceptable coins and credit cards. How much they may retain of your market taxes, profits, certainly remains subject to what we see as our needs, allowing them some comforts for their successful efforts, but none for their failures. Except the bare minimum that we may grant all humans for their sustenance, as part of their right to live and be a part of the community. We could consider profit as our basic form of commercial taxation and make social adjustments where we feel feasible. It also provides us with part of the means of reducing economic and political disparities in society.