USERY REFORMATION


USERY REFORMATION
The Issue
A Petition to End Usury and Promote Economic Fairness
We, the undersigned, hereby petition for the following reforms to establish a just and equitable economic system:
Whereas, the principle of usury, the charging of exorbitant interest rates, has historically led to economic instability, social inequality, and the erosion of democratic values;
Whereas, the Boston Tea Party, a pivotal event in American history, was ignited in part by the imposition of a relatively modest tax of slightly over 6%, demonstrating the public's intolerance for excessive taxation;
Whereas, the burden of debt has become increasingly oppressive for individuals and businesses, with credit card interest rates, mortgage rates, and other forms of financing reaching unsustainable levels;
Whereas, the concentration of wealth and power in the hands of a few has exacerbated economic inequality and undermined the principles of democracy;
Whereas, transparency and accountability are essential for a healthy and functioning economy;
Therefore, we demand the following reforms:
Usury Cap: Implement a strict cap of 10% on all interest rates, including credit cards, mortgages, and other forms of lending.
Audit all Payday advance check cashing to ensure honesty and no fees or interest over 10%
Consumer Protection: Mandate that all purchases be paid at a maximum interest rate of 10%.
Tax Reform: Enact a maximum tax rate of 10% on all income and property.
Corporate Transparency: Require all corporations to disclose the sources of their ownership, prohibiting ownership structures that obscure accountability.
Individual Ownership: Limit Investor/Corporate owned stock ownership to a maximum of 10% without a corresponding live individual or individuals as owners, ensuring human accountability and avoiding a pyramid scheme among corporations. There must be a paper trail to the actual owner.
Corporate Profit Sharing: Require all corporations to distribute a minimum of 5% of their annual profits in cash to businesses that make over 1 million per year. Smaller corporations with annual revenues under $1 million should be subject to a sliding scale.
Corporate Restructuring Limitations: Prohibit corporations from creating new entities to evade liabilities or avoid paying taxes.
By enacting these reforms, we can create a more just and equitable society where economic opportunity is accessible to all, and where corporations are held accountable to the public interest.
We urge our elected officials to prioritize the needs of the people and take bold action to address the systemic issues that plague our economy
1
The Issue
A Petition to End Usury and Promote Economic Fairness
We, the undersigned, hereby petition for the following reforms to establish a just and equitable economic system:
Whereas, the principle of usury, the charging of exorbitant interest rates, has historically led to economic instability, social inequality, and the erosion of democratic values;
Whereas, the Boston Tea Party, a pivotal event in American history, was ignited in part by the imposition of a relatively modest tax of slightly over 6%, demonstrating the public's intolerance for excessive taxation;
Whereas, the burden of debt has become increasingly oppressive for individuals and businesses, with credit card interest rates, mortgage rates, and other forms of financing reaching unsustainable levels;
Whereas, the concentration of wealth and power in the hands of a few has exacerbated economic inequality and undermined the principles of democracy;
Whereas, transparency and accountability are essential for a healthy and functioning economy;
Therefore, we demand the following reforms:
Usury Cap: Implement a strict cap of 10% on all interest rates, including credit cards, mortgages, and other forms of lending.
Audit all Payday advance check cashing to ensure honesty and no fees or interest over 10%
Consumer Protection: Mandate that all purchases be paid at a maximum interest rate of 10%.
Tax Reform: Enact a maximum tax rate of 10% on all income and property.
Corporate Transparency: Require all corporations to disclose the sources of their ownership, prohibiting ownership structures that obscure accountability.
Individual Ownership: Limit Investor/Corporate owned stock ownership to a maximum of 10% without a corresponding live individual or individuals as owners, ensuring human accountability and avoiding a pyramid scheme among corporations. There must be a paper trail to the actual owner.
Corporate Profit Sharing: Require all corporations to distribute a minimum of 5% of their annual profits in cash to businesses that make over 1 million per year. Smaller corporations with annual revenues under $1 million should be subject to a sliding scale.
Corporate Restructuring Limitations: Prohibit corporations from creating new entities to evade liabilities or avoid paying taxes.
By enacting these reforms, we can create a more just and equitable society where economic opportunity is accessible to all, and where corporations are held accountable to the public interest.
We urge our elected officials to prioritize the needs of the people and take bold action to address the systemic issues that plague our economy
1
Petition created on August 4, 2024