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administrative costs and create jobs for the bureaucracy, of course - people whose jobs depend on "helping" those of us who don't have enough money left after taxes on which to live ...

Raising the personal exemption to a realistic level, limiting deductions to health insurance and education, and adding a deferral to allow for tax-deferred accumulation of income-generating assets would allow a "typical" family of four to shelter as much as $110,000 each year from taxes, surely enough on which to live. Imposing a single tax rate on all income above that amount, including dividends and capital gains as well as wage income, and merging Social Security and Medicare into the general tax rate instead of maintaining a "special" parallel tax system to tax the poor for the benefit of the rich would allow the government to meet its needs and reduce the deficit.

For those judged "incompetent," a category into which many homeless people unfortunately fall, the court could appoint a trustee to handle the capital homestead account, arrange for medical or psychiatric treatment, education, and other material needs of the beneficiary. Once someone has demonstrated the ability to control his or her own life, of course, such a trust could be terminated, and the beneficiary become the trustee for his or her own self directed capital homestead account.

This only scratches the surface, of course, but it does highlight the fact that, in and of themselves, homeless shelters could be doing more harm than good as "enablers." Combined with an effective program of treatment and rehabilitation (both physical and economic) such as capital homesteading, homeless shelters could be a valuable community and individual resource and social support.

Learn more about this author, Michael Greaney.
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