Capitalism works, but "concentrated capitalism" is not fair.
We urgently need bold new, enlightened Public Policy as it relates to Labor and Capital. Cut onerous corporate tax rates 50% AND 100% in depressed enterprise zones - but ONLY if equivalent equity (stock) is shared with workers.
EVERYONE needs to know how wealth is created so every citizen can begin to participate in it!
Nearly 15 million Americans enjoy employee ownership - now more than in unions.
THE 3rd WAY
THE 3rd WAY is a very big idea. In the INFORMATION AGE, you simply cannot get ahead on wages alone! You must acquire capital (stock, real estate, technology, etc.). If you are a young person, you must learn these invaluable principles now. If you are a parent, teach this to your children and insure they have a happy life. Moreover, every citizen needs to demand the common sense real hope and real change advocated in this book from their elected leaders.
Learn how and where you can best achieve your long term financial goals – wealth and security. This is not a risky “get rich quick” scheme. It’s a proven get rich slow and steady plan. Already nearly 15 million workers enjoy the benefits of employee stock ownership. Indeed a proven political/economic/social movement of epic proportion is already underway. Yet, it needs to be expanded in geometric proportions! Only then we can truly and finally solve the terrible income inequality quagmire plaguing virtually everyone not in the top 10% who are struggling so mightily right now. That movement is inclusive capitalism/employee ownership leading to a true economic democracy actually first called for by our brilliant and visionary Founding Fathers.
EVERYONE WINS. The individual employees win because they will share in the wealth producing equity/stock of the companies they work for. Participating corporations who share the wealth win because we call for an intelligent, equivalent drastic cut in counterproductive corporate taxes AND they get THE BEST, highly motivated employees who in virtually every case help every business metric improve. And the government/society wins because done properly, it results in no loss of revenue, it will lift the middle and even lower classes, cut social costs, cut unemployment and boost the economy!
Everyone Wins Via Broad Based Property Ownership & When Workers Share In The Wealth
President George Washington, 1789
First President of the U.S.
“America will be the most favorable country of any kind in the world for persons of industry and frugality, possessed of moderate capital, to inhabit."
President Thomas Jefferson, 1801
Third President of the U.S.
Made it a major theme of his writing: “legislators cannot invent too many devices for subdividing property”
President John Adams, 1797
Second President of the U.S.
Pushed broad property access in Massachusetts: ”the only possible way of preserving…equal liberty….is to make the acquisition of land easy to every member of society”
“Property monopolized or in the Possession of a few is a Curse to Mankind. We should preserve not an Absolute Equality.—this is unnecessary, but preserve all from extreme Poverty, and all others from extravagant Riches.”
President James Madison, 1809
Fourth President of the U.S.
“the United States have a precious advantage, also, in the actual distribution of property…and in the universal hope of acquiring property”
“without violating the laws of property, reduce extreme wealth towards mediocrity and raise extreme indigence towards a state of comfort”
THERE ARE ONLY 3 REAL CHOICES: 1. Socialist Redistribution/The Welfare State – Dependency, Poverty 2. Concentrated Capitalism - Plutocracy (rule by the rich)/Feudalism (masters and peasants) 3. Shared and Inclusive Capitalism/Economic Democracy…PROVEN successful by over 100 years of data.
President Ronald Reagan
“I can't help but believe that in the future we will see in the United States and throughout the Western World an increasing trend toward the next logical step, employee ownership. It is a path that befits a free people.”
President Ronald Reagan, fortieth President of the United States, Speech on Project Economic Justice
Senator Bernard Sanders
“Instead of being a cog in a machine, workers who have decision making power over their jobs come to work with a sense of satisfaction that relatively few employees have in our economy today!”
-- Senator Bernard Sanders,self-described democratic socialist from Vermont, in his address to attendees of the 2012 Las Vegas Conference and Trade Show by ESOP Association
President Ronald Reagan
"More than 100 years ago, Abe Lincoln signed the Homestead Act making it possible for our people to own land. This was a revolutionary development. Ownership of land in most of the world had not been possible for the ordinary citizen.... The Homestead Act set the pattern for American capitalism.... Now we need an Industrial Homestead Act, and that isn't impossible." - Radio commentary, "Tax Plan No. 1," /Viewpoint with Ronald Reagan/, February 1975.
Hubert H. Humphrey
“I have viewed full employment as a top priority goal for this country. But I also recognize that capital, and the question of who owns it and therefore reaps the benefit of its productiveness, is an extremely important issue that is complementary to the issue of full employment. I see these as the twin pillars of our economy: Full employment of our labor resources and widespread ownership of our capital resources. Such twin pillars would go a long way in providing a firm underlying support for future economic growth that would be equitably shared.”- Hubert H. Humphrey, U.S. Senator (D-Minn.) Washington D.C.
Galusha A. Grow
President Lincoln's Speaker Galusha Grow finally retired from the House of Representatives in 1902; he gave one last speech on “Labor and Capital.” Having seen both the successes and limitations of the Homestead Act, where the distribution of land was facilitated by the federal government, he proposed that because there were growing limitations on capital in the form of land, the future will be in assisting property ownership via shares of corporations. Profit and equity sharing could be used to provide access to property rights to workers in the new industrialized economy. - Galusha A. Grow, the "father of the Republican party"