Over seven years, Conrad Black has periodically shared public policy ideas, including a partial privatization of the welfare system. His method uses the tax system to impose a small, refundable wealth tax to enlist the wealthiest and most financially sophisticated people in job training and creation. This tax would be part of a comprehensive program of cost and tax reduction, designed as a loan from the state to the taxpayer, not an assault on amassed wealth. It aims to replace outright unemployment payments with opportunities for gainful employment.
Refundable Wealth Tax as a Tool for Social Goals
Black first proposed these ideas in his book The Canadian Manifesto, published about ten years ago, which had a brisk sale. The refundable welfare and wealth tax generated inquiries but no discernible effect on federal and provincial governments. He believes Canada can become a trend-setting laboratory in creative public policy by using the tax system to incentivize successful capitalists to participate in reducing poverty, increasing job creation, and developing a more talented workforce.
This ties into Black's long-standing call for a larger defense budget, now embraced by NATO, including Canada. He notes that defense spending includes cutting-edge technology investments that could build up domestic defense industries and advance the scientific base. Increased personnel costs also support adult education, as military service often strengthens formal academic and professional qualifications.
Insights from Wealthy Lions of Commerce
Over 15 years of emitting these ideas, Black has encountered wealthy individuals with original public policy thoughts. One was Stephen Jarislowsky, with whom Black recently reconciled. Jarislowsky wrote a note disagreeing with Black's dismissal of climate alarm, defending youthful agitation about climate change.
Another is Frank Stronach, aged 93, a titan of industry and old friend. Stronach invited Black to lunch at his organic restaurant in Aurora, appearing unruffled by legal travails. They discussed Stronach's long-standing ideas on corporate governance, based on his belief that the ancient squabble between public shareholders, management shareholders, and the workforce should be replaced by a regime of cooperation where all share in the tangible success of the business.
