I recommend phasing out the current currency (over the period of a generation), and instating a new currency that is subject to a 100% inheritance tax law. As far as tangible assets go (such as gold, clothes, houses, and vehicles), my best recommendation is that they be returned to the state upon the death of the owner, and reintroduced into the “market” to be once again purchased using the new currency. Lets discuss and build on this idea, including how to implement it, and what potential effects it might have.
To create a fair and just meritocracy
I have been developing a hemp backed currency, because it is so useful. A national reserves of hemp would be kept by the state and grown by the state, as well as by individuals. All hemp would be weighed for the monetary value and equivalent notes would be printed for future redemption for those wishing to create food, clothes, shelter, medicine, or any other marketable product. Inflation would occur on non renewable resources, so as to maintain a stable, sustainable use of them. Hoarding the hemp notes would create a rollover value from one fiscal year to the next. Not using them, makes the value of new notes worth more hemp. Upon death, the notes would be burned, absorbing the deflation, increasing the value of notes still circulating. I have more about this, but I’m not at my PC. I’ll check back if anyone has interest in further explanation or constructive criticism.
How far have you developed the idea? Do you have a short presentation you could show us, e.g. a PDF, Prezi or PowerPoint?
I have a few explanatory txt files, a couple pics for uses, and some banking algorithms.