I am not opposed to people earning money because in my Economics Classes in Grad School, it was abundantly clear that Economic Growth is only stimulated by GREED... However, there should be limits on one's greed as one billionaire recently told me, "I'll never be able to spend all my money in my lifetime."Secondly, I am not and will never be supportive of SOCIALISM, even though our government is currently funding numerous Socialistic Programs... our Free Market Enterprise System must be protected.
So, a possible solution to this is the following: put caps on annual income that someone can earn in one profession... There is no need for a professional athlete to earn millions of dollars a year to play sports. Nor is there a need for CEO's to earn 50 times what their employees earn when it is their employees who are really responsible for growing the company.
However, there is no reason why a professional athlete who has reached his/her cap in sports cannot open a restaurant for another cap. And, open an resort for a third cap... They should be allowed as many caps as they want to pursue in one lifetime.
Not only should we have caps on income, but I propose the following:
Professional FOOTBALL (and all other professional sports) should finance all College/University Football Programs, as well as all High School Football Programs.
Pharmaceutical Companies should finance all healthcare operations.
Private Industry should finance all Space Programs and Military Programs except for the Coast Guard and Homeland Security.
ALL RELIGIOUS INSTITUTIONS should be responsible for funding all educational programs K-12 plus BA, MA, and PhD programs.
We should modify our educational programs so that people who want to be trained in a certain area should pass a competency test in that area and become certified, instead of receiving a BA or MA or PhD and simply memorize. And, it should not matter if that person receives his/her knowledge from a school or from self study as long as they can pass the test.
We should provide livable wages for everyone providing they achieve a certain amount of productivity rather than just sitting around the house collecting welfare. Everybody can do something.
We would still have people who would fall into wealth categories because of their own motivation personalities.
ALL DRUGS should be legalized and professionally distributed by INDUSTRY to those who want to purchase them. These drugs would be taxed... but, it would eliminate ALL ILLEGAL SALES of ALL ILLEGAL DRUGS.
All INMATES that are incarcerated in our Federal/State Prisons should have to perform some type of work for society as part of their punishment. Building roads and bridges, repairing roads and bridges, picking crops, etc.