Billionaire George Soros states that all constructs will have some kind of flaw. This is because neither communism nor free enterprise can be considered as perfect. Hence these flaws have to be cured. This can be done by taking the good elements from each one.
This is why there needs to be a welfare structure at the global level. This can happen only when there are collective interests that have to transcend the state boundaries. What this means is that the states being sovereign has to be made subordinate to international law along with international institutions has to be given predominance here. George Soros also maintains that the highest opposition to the idea is coming from the United States of America.
This is because the United States of America wants to determine policies for an entire world. But American leadership needs to consider others and respect their interests. In fact, this is not an option as America has to ensure this if it wants to retain its dominant position.
He even recommends an enhanced foreign influence to matters that are related to political life in the US. Basically, George Soros is talking about global governance here. He is giving it preference over independent nations enjoying their constitutional sovereignty. This is the need of the hour as the world is facing challenging, complex along with deep-rooted problems today. There is no single country that can address all these problems on its own. Thus supranational laws have to be constructed, besides such institutions, whose authority will override that of any government of any country.
He further says that taxes have to be desirable whether they are good or bad times. Lawmakers must not allow for any tax cuts even during a downturn as that makes the recession go down still deeper.
George Soros is consistent with his priorities regarding funding that he is pursuing through Open Society Institute. There are several organizations that are funded by Open Society Institute. All of these are in favor of high taxes. This is required to help a welfare state being run by the government for expanding still further. Read this story about George at Politico.com.
He is not in favor of any proposals that can lower or remove estate tax. This is because it does not interfere with creating wealth. In fact, it is helping in enhancing social equality.
He supports cap-and-trade too, which is a policy proposal based on taxes. It is meant to reduce consuming of fossil fuels by Americans. This specifically refers to coal, natural gas along with oil. Hence the nation will have to make a transition towards the alternate sources of energy that include the wind as well as solar power. These regulations will ensure that companies which are exceeding their CO2 emissions limits are taxed as per the specifications by any government. Read his profile at Business Insider.