Income Equality Generator for Financial Redistribution
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Solution Overview
Problem
Modern societies face significant income inequality and wealth inequality, leading to stratification of general wellbeing, despite opportunities in capitalistic economies.
Innovation Solution
The proposed solution includes an Income Equality Generator and a Wealth Equality Generator, which allow users to input preferences for future income or wealth equalization, agreeing to payback percentages above pre-established thresholds in exchange for guaranteed future payments or enhanced income/wealth levels.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If capitalistic economy provides generalized opportunity for all persons, then individual opportunity and economic growth are improved, but income inequality and wealth inequality worsen
Solution Approach 1:
The patent introduces future income swaps and future wealth swaps as intermediary financial instruments that mediate between individual economic opportunity and income/wealth equality. These swaps allow individuals to transfer portions of their future income or wealth to a pool that redistributes to those with lower future earnings, thereby maintaining capitalistic opportunity while reducing inequality outcomes.
Solution Approach 2:
The patent changes the temporal parameter of income and wealth distribution by allowing individuals to commit portions of their future income or wealth. This transforms the distribution timeline, enabling equality mechanisms to operate on future earnings rather than only current income, thus preserving present economic opportunity while ensuring future equality.
2Productivity
If individuals seek to raise their expected level of income and wealth, then individual economic mobility is improved, but overall income inequality and wealth inequality worsen
Solution Approach 1:
The patent implements a feedback mechanism where individuals who achieve higher future income or wealth through economic mobility contribute a predetermined percentage to a redistribution pool. This feedback loop ensures that successful economic mobility automatically supports those who experience lower earnings, thus sustaining individual incentive to grow while collectively reducing inequality.
Solution Approach 2:
The patent requires individuals to make preliminary commitments of future income or wealth portions in advance, before the actual earnings are realized. This preliminary action allows the redistribution mechanism to be pre-structured and ensures that resources are available to support those with lower future earnings, while not diminishing current individual incentive for economic growth.
3Object-generated harmful factors
If future income swaps and future wealth swaps are implemented, then income equality and wealth equality are improved, but system complexity and verification requirements worsen
Solution Approach 1:
The patent extracts the verification function from the overall swap system by utilizing existing third-party verification infrastructures. Income verification leverages existing tax authority systems, while wealth verification uses established asset registry systems. This extraction reduces system complexity by relying on proven external verification mechanisms rather than building new verification systems.
Data Source
AI summary
The preceding disclosure concerns a novel computed inequality solution to income inequality and wealth inequality (the “Solution”). The Solution is comprised of, among other elements, the following embodiments: an income equality generator; a wealth equality generator: future income swaps; future wealth swaps; income verification for future income swaps; and wealth verification for future wealth swaps. The embodiments are useful, novel, and non-obvious individually. Likewise, the embodiments are useful, novel, and non-obvious when taken collectively. Income inequality and/or wealth inequality—the problem(s) solved by the income equality generator and/or wealth equality generator alone or in combination with future income swaps and/or future wealth swaps and income verification for future income swaps and/or wealth verification for future wealth swaps—do not occur in nature, are a relatively new problem, and are problems that have increased in magnitude in recent years. The Solution does not constitute a software implementation of a process that is already in use. Nor do the embodiments, either individually or collectively. Importantly, we do not seek patent protection for all means by which income equality and/or wealth equality may be generated; for all swap products (i.e., those not related to income or wealth); or other income verification processes for future income swaps and/or future wealth swaps that may be similar to those that are detailed in this application.