Set up a Voluntary Investment Fund.
To use the money raised to invest in infrastructure and jobs throughout Europe [or America] where they are most critically needed.
A one time voluntary contribution by all tax payers [corporations included] to be paid back by selective tax cuts over a ten year period. Those that do not contribute get no tax reduction over the foreseen program period of fifteen years [see below].
Now both my partner and myself would be prepared to contribute €10k each to such a fund and would expect that investment returned at 0% over a ten year period after an interim period of five years so that this fund can bear results.
Everyone commits each to their own means.
Corporations receiving stimulus money to expand operations and employment must also commit a percentage of their profits to keep the fund rolling every year, up and until the point where this covers the original investment. This of course will allow them to expand and would be excellent public relations.
Governments using such funds would of course be expected to top up the fund from part the extra tax receipts received from the expanding economies. Deficits can also be managed.
This needs to be robust and given teeth by elected officials, any individual or corporation that abuses the fund will be subjected to immediate repayment of all monies loaned with fines and probable imprisonment of their voting shareholders and board [they can build a few more in anticipation of the influx]. That should improve corporate self control.
1] You have to believe in government, individuals and corporations being able to function in a responsible manner. Hard I know, but give it a try.
2] This is not socialism, this is called investing in our future.
3] Of course there are crooks, but we can cope with those with our existing laws.
4] Many of the richest will be at first reluctant, they can also choose to pay higher tax rates if they prefer [non-voluntary].
5] We would also argue that the infrastructure to manage this fund is already in place and the interest gained on these funds would pay for the management.
There are approximately 140million tax payers in the US and nearly 200 million in Europe, an average of $100 each would be significant. This could also be expanded over a five year investment period commitment meaning $20 a year, which would then be paid back by tax rebates.