i pointed out that America has a wealth inequality issue.
There will always be a wealth inequality issue. That does NOT mean that the government must step in and mess around to fix the problem. Indeed, it is the Western governments which have created the problem in the first place, and it will never get fixed.
However, if we wanted to create an IMAGINARY SCENARIO, here is how the problem could be fixed:
1. All countries would return to the Gold Standard.
Which means that the money in circulation could not exceed the value of gold being held in reserve. That would eliminate inflation and deflation, and printing money at will.
2. All national debts would need to be paid off. Which means that the governments would need to seriously trim the fat and become very lean.
3. Which would also mean (1) a drastic reduction in the salaries of politicians and bureaucrats, (2) a drastic reduction in the number of representatives in governments as well as numbers of government employees, (3) a total overhaul of all spending so that waste and unnecessary spending were eliminated, (4) an independent treasury department which would control all spending decisions and ensure that there are no budget deficits and no national debt, and (5) government spending strictly for essential services (infrastructure, health services, safety and security services, law enforcement and justice).
4. A flat income tax of 10% of gross income (individual or corporate) which would do away with all deductions, exemptions, and dodges.
5. No freebies to politicians or bureaucrats either, since they would need to pay their expenses out of pocket, not out of tax funds. Absolutely no corporate welfare and no pork barrel politics. Lobbying totally banned and Big Pharma put on notice.
6. Absolutely no tax funding for abortions, transgender operations, wasteful visits to doctors, or any such nonsense.
7. Welfare recipients to work for their checks (unless disabled). No freebies for anyone for any reason.
8. All illegals immigrants totally deported back to their countries of origin, and legal immigration only for productive and loyal citizens -- not infiltrators.
When currency is stable and taxes are at an absolute minimum, then all able-bodied people can support themselves. Which means that everyone would have money to either save or invest. After that it would be a matter of individual effort as to how wealthy or not people wish to become. But everyone would have a living wage (and the slackers would be compelled to work or starve).
As the Bible says if any man will not work, let him not eat.