Economy & Banks

I think that there are other more important economic issues. Broadly speaking if I could make two changes it would be (1) much greater taxation of wealth and income for the purposes of greater re-distribution

Is wealth redistribution through taxation an effective mechanism, given we're all being taxed to use money by the banks who have created it?

Because 97% of the money in the UK is created by banks, someone must pay interest on nearly every pound in the UK. The bottom 90% of the UK pays more interest to banks than they ever receive from them, which results in a redistribution of income from the bottom 90% of the population to the top 10%. Collectively we pay £165m every day in interest on personal loans alone (not including mortgages), and a total of £213bn a year in interest on all our debts.

Looks as though it might counter *some *of the above inequality, but taxes would have to be very punitive for the wealthiest to cancel out this effect.