Our+Ideal+World's+Economy

To truly accomplish the goal of having an ideal world, we must establish a solid economy. Without a strong economy or some income flowing into the community, survival and expansion would become extremely difficult .A solid foundation has to be laid for a strong economy by answering some crucial questions: How much money should we print? What type of businesses and industries would our economy depend on? Lastly, what would we tax our businesses and industries. The first layer of our economy should be money. How much of our currency should we print, or mint? For our currency to have value, it has to be backed by some kind of valuable good’s. If not then it would be worthless. With that being said, we should print enough money to represent what we have to back it up. This raises another question what should the money be backed by? Gold would be the obvious choice, but what if we didn’t have gold? Our currency will be backed by agricultural yields that will be that will be converted to money before they spoil. Now the money has a backing and has a value until we discover something more valuable like gold or silver. The second layer of our economy is the businesses we will depend on. Since we are starting from scratch, our economy should depend obviously on agricultural and manufacturing. With our currency being backed by agricultural yields, almost all of our citizens are going take part in agriculture by farming and cultivating goods. Even with that we must not forget about manufacturing which gives us the best chance of expansion in the future. With such a small community the manufacturing industry will be extremely small but we should try and build up our community and provide things like furniture and buildings for our citizens in attempt to draw more.

The final layer of our economy is perhaps the most difficult to decide on, what should we tax our businesses. The great Julian West came up with the idea of replacing cooperate gains and income taxes with a simple sales tax applied on all goods except for the necessities of life. I agree with Julian West but I also think this is a short-term solution. As our utopia begins to expand and draw more people so will the government and it’s responsibilities, with the added responsibilities and citizens the government will need more money to operate. Therefore one of two things must happen, either we raise the sales on our citizen’s tax or we incorporate an income or capital gains tax on businesses. Taxing a struggling business would be counterproductive so we should put businesses into income brackets and tax according to the bracket the fall in. The highest bracket should be taxed forty eight percent with the lowest being taxed twelve percent on their income. To build an ideal world that works we need a strong economy that can change and evolve as your community does. Our currency must have value. Our economy must have some sort of backbone whether it’s manufacturing or agricultural. And lastly we must have a solid tax plan. A solid foundation will be laid if we accomplish these goals.