How To Reward Talent & Reinvigorate The Middle Class
Breaking the stranglehold that wealthy families have on financial success in America.
By David Grace (Amazon Page — David Grace Website)
If you really want America to be a meritocracy where anyone with talent, intelligence and a strong work ethic (not just people whose families have enough money to get them a college degree) has the opportunity to financially succeed and talentless, stupid and lazy people are on their own, here’s one way to get closer to that goal.
Identify Qualifying Areas Of Study
Create a list of occupations that pay good wages and which need additional workers such as mechanical engineers, electrical engineers, computer scientists, doctors, dentists, veterinarians, nurses, carpenters, commercial electricians, equipment repair technicians, dental assistants, occupational therapists, tool and die makers, machinists, etc.
Identify Educational Institutions Offering Training For Those Occupations
- 1) Create a list of nonprofit training and educational institutions that offer degrees in those areas of study
- 2) Set limits on the average compensation and maximum compensation that each qualifying institution can pay to its executives
- 3) Set limits on the average compensation and maximum compensation each qualifying institution can pay to its teachers
- 4) Require that each qualifying institution’s costs, e.g. rent, supplies etc. must be no greater than X% above the market rate.
- 5) Require that each qualifying institution do away with all general-studies requirements for “Subsidized Students’” courses of study.
- 6) Require that the institution’s course of study for Subsidized Students’ degrees require no more than two years to complete.
- 7) Require that the institution remove a Subsidized Student from the program for his/her material failure to attend classes, turn in homework, pass examinations, or participate in the educational program
- 8) Require that the institution notify the government within thirty days of the Subsidized Student’s removal from the program
- 9) Set limits on the total tuition that the institution can charge for completion of the Subsidized Student’s course of study
- 10) Prohibit the institution from charging any fees directly to the Subsidized Student
Qualifying The Subsidized Student
- 1) Each person who wants to participate in the program must take a government-approved aptitude test and intelligence test.
- 2) A Subsidized Student must receive a set minimum score on the tests for the area of study/training that the Subsidized Student wishes to pursue.
- 3) The Subsidized Student must be admitted to courses in that area of training at an institution on the government’s approved list
- 4) The Subsidized Student must complete the program of study within three years
Financial Details
- 1) On a quarterly basis the government will directly pay the tuition, books and class materials costs for the Subsidized Student for the qualifying course of study.
- 2) Based on the Subsidized Student’s family wealth, on a monthly basis the government will give the Subsidized Student food stamps to feed him/her plus admission to the Medicare program for medical expenses.
- 3) Based on the Subsidized Student’s family wealth the government will give the Subsidized Student between $0 and $500 dollars per month for the cost of rent, clothing, transportation, cell phone, internet access, personal care products (toothpaste, shampoo, dental floss, vitamins, etc.).
- 4) The Subsidized Student will need to earn or borrow any additional money needed for rent, transportation and other living expenses.
- 5) If the Subsidized Student meets certain financial requirements the government will give him/her an interest-free loan sufficient to meet the Subsidized Student’s uncovered costs of living for the next twelve months of the educational program.
- 6) If the Subsidized Student fails to complete the course of study he/she will be obligated to repay all the tuition, loans and cash subsidies, without interest, amortized over ten years.
- 7) If the Subsidized Student completes the course of study he/she will be obligated to pay the government any cost of living loans, interest free, amortized over ten years plus 15% of their gross salary/earnings for seven years after graduation in full satisfaction of their obligation.
A program like this would break the hold of successful families on the education needed to obtain financial success and return financial success to those with talent, intelligence and determination instead of limiting it to those who happened to be born into a family that could afford to educate them.
A system like this would reinvigorate the middle class and reward the individual’s talent rather than his/her family’s wealth while at the same time breaking the stranglehold that wealthy families have on financial success in America.
— David Grace (Amazon Page — David Grace Website)
