Quote (Thor123422 @ Mar 17 2021 11:15pm)
Isn't it a bit late for a sovereign wealth fund? I mean, if we had modeled like the Nordic countries and created it with oil revenue that might be one thing. I don't really see how we would actually fund and maintain it, or how it would withstand constitutional challenges? I guess it could be "general welfare"?
How is Social Security constitutional? Congress passes a law.
We'd fund it with taxes. This isn't about nationalizing an industry, it's about creating an investment base to supply the government with income with which to dispense to us, as collective shareholders. Social Security is invested in special treasury securities, which essentially passes the bill down the line. We should be buying a share, with public money, of the general production of the United States. Buy stocks, buy bonds, run it separate from government and maximize revenue. Automation is inevitable, but we would be using our time now to buy a slice of the future.