I have an idea that will change the world for 62% of the nation(United States). It involves amending banking and finance rules. Sixty-two percent of the country has no discernible investment in the stock market, no savings and no retirement plan past social security income. That is because they earn(ed) too little and there is no way to change this.
For whatever reason they cannot become sudden computer programmers at age fifty three and turn their lives around like T.V. keeps claiming. So, since that is never going to happen is it not society’s responsibility to do something that can change their life?
Have all publicly-traded corporations accept pre-payments towards recurring monthly bills for services. Have them pay interest on all pre-payment amounts in each fiscal year they are received. Make that interest equal-to the Fed prime lending rate. Easy, simple to understand, cheap for companies to borrow at the LOWEST RATE POSSIBLE directly from their own consumers, voluntary AND solves retirement income problems for poor or disadvantaged people. When it is a, ‘win-win,’ and makes sense why doesn’t “America,” just do it?
What is wrong with this country?