Death and taxes - two things we can be pretty sure will always exist.
In the future, it is highly likely any form of government is going to have to tax is citizens to pay its expenses.
Every person should benefit from their labor. Every person should benefit from their investments. However, in order to reduce income inequality, those two items should not be taxed at the same level. In the USA, as of 2019, income has a variable tax - lets call it 35% between state, local, and federal taxes (likely low if you include sales tax, personal property tax, real estate tax, state tax, and federal tax as a short list). Investment tax, in particular long term capital gains, is only 15%. This has lead the the wealthy getting wealthier faster than the working masses - which will eventually lead of revolution.
Currently little can be done in the USA about this, since the wealthy tend to run the government, either directly or via proxy (campaign contributions). The argument is that if capital gains taxes are raised, Corporations will simply move overseas. Since this forum is suggesting some form of planetary governance, that problem should disappear.
While we are on the subject... taxing savings and providing tax relief for things like mortgages makes no sense either. If you want a richer society, you must encourage savings, not debt.
Ah, one of my favorite topics --- taxation.
Taxation will grow significantly as the USA transitions from a Democratic Republic to a Quasi-Socialist country. As background, this transition to a Quasi-Socialist country started over a hundred years ago with the implementation of individual taxation (~1920), Social Security (1935), Welfare (1935)and Medicare (1965). The Medicare and Welfare programs were greatly expanded in 1965-68 and touted by President Lyndon B. Johnson as part of his Great Society program to eliminate poverty and racial injustice. In 2005 President G W Bush expanded Medicare to include prescription drugs (called part D). Add to this investment, state, local, property, personal property and fuel taxes and we currently sit close to a 50% overall rate. So, my intention with providing this background is for all to realize just how heavily taxed we already are --- and it's going to increase significantly in the decades ahead.
This taxation will result in huge societal changes. Large masses will be considered the proletariat as their labor will be their only owned asset. They won't be able to afford individually owned housing, cars and investments so they will look to government / corporations to supply those resources. Large corporations, particularly on the right and left coasts will be suppliers of those needs for those that work at their firms. This will cause decreased mobility as the impact for job changing will be massive. It will also further impact the declining USA birthrate. These factors will further fuel the anti-corporate sentiment that is growing with today's Millennial's and Generation Z age groups.
We have crossed the line with being able to change this direction and will have to adapt to the new normal.
I once read that "Governments don't create anything - they just move resources between parties". In this case, its taxing those it can and supporting those (voters) it can't.
My mothers situation is classic: She is 94 years old and living in a nursing home. She spent her entire life cutting coupons and saving every dime to make sure she would have enough to pay her own way in her old age. My Dad was a milkman with an 8th grade education that worked himself up to being a research assistant. We were never rich, but never hungry. e.g. Middle class - 3 bedroom, 2 bath house, 2 kids, and the occassional dog.
Because she has money, her monthly residence fee (about $4000/month) comes from her savings. She does NOT qualify for Medicare Part D. She pays about $30/month for her medicines. Prescription insurance would cost her $90/month so she has elected to go without it.
The lady in the room over also grew up "Middle class", but never saved a dime. She has 3 healthy children, all doing well. No money in the bank. Medicade pays for her room and Part D covers her drugs.
This is "fair"? She doesn't think so.