Varieties of Lifehours Accounts
As explained in "An Honest and Responsible Currency," a variety of lifehour accounts are needed to keep people and politicians from living beyond their means. The lifehour accounts are ranked in a hierarchy based on accounts role in basic survival. People primarily and daily steal from others and their future because they live beyond their means: credit cards, massive cars and modern homes.
The purpose of the hierarchy is to allow people to transfer lifehours from non-essential accounts to essential needs. This happens today when people take money from their vacation savings to an emergency car repair or emergency room visit. The problem is too many people don't have rainy day funds for emergencies. Lifehour accounts will help these irresponsible people.
If a person does not have sufficient accumulation of lifehours in their account, they can either work more in private industry or in the National Universal Service Agency aka New United States of Ameria--NUSA. If a person does not work to increase their margins, then their payroll taxes will be increased to make the transfer. As one can see, this is an aspect of requiring self-responsibility so people don't become a time and money drain on others through the business and tax system.
A person can move lifehours from the non-essential discretionary account to the essential via the lifehour trading. Moving lifehours: from wants to needs, from unnecessary to necessary, from non-essential to essential. And what should be the basis of determining these poles? The value to sustaining life:
Other than the LBO lifehours--some of which can be purchased--all lifehours are earned lifehours. You cannot use unearned cash to buy lifehours. The creation of better democracy and capitalism requires an end to unearned income.
Profitable Life: One aspect of these lifehour accounts is that a person cannot increase their discretionary spending by more than 50% a year. A lot of people get in trouble when they have an increased income from which they thing income will rise at an exponential rate forever. They overspent and overborrow with a day of reckoning. In 2003, America has the highest rate of personal bankruptcy in history.
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|>||#1 modern homes||020423||The Modern Home|
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