Paul Buchheit presents an excellent MUST READ article on greed hoggism and the continued accumulation of concentrated wealth-creating, income-producing capital assets. The vast bulk of productive capital assets are owned by corporations, which are owned by individuals as stock share holders. It is this extremely small group of people who elect and control the corporations Board of Directors, who intern retain the CEO and upper level managers to oversee and direct the operation of the corporation. The salaries and benefits, which also include significant stock options, put these managers incomes shamelessly and substantially greater than even the highest paid non-management workers, which results in resentful income inequality among the work force. Also, there are the small stock holders (which number in the millions among all the corporate stock held) with comparatively little in stock ownership who are denied the payout of the full earnings of the company, which they share ownership in. Thus, corporations continue to expand and operate more efficiency through technological invention and innovation with less and less workers while simultaneously concentrating more ownership in the hands of those who already own the corporation, using retained earnings and/or debt financing, while NEVER creating any new capital owners. This is the scenario that persists and that results in enormous income and wealth (capital ownership) inequality. In the meantime, while all the ownership concentration is occurring, the stock market exchanges provide a gambling service for those betting the up and down prices of stock trading. This is nothing short of risky business and one should be prepared to lose their past savings pledge in the betting game. Why is this happening and what can be done to abate the situation and put our nation on the path to prosperity, opportunity, and economic justice? The problem is in the design and operation of the SYSTEM. The system of investment finance fundamentality requires one to have substantial savings to participate and grow richer and richer. (The saying is essentially true in todays financial sector that its takes money to make money.) Thus, in a nutshell, investment finance is based on the requirement of past savings invested or pledge as security in the event than a capital loan does not produce the return expected to pay off the bank or lender. As one should realize, this results in the reality that ONLY those with substantial income, property holdings, or capital assets, can participate in the system to accumulate wealth-creating, income-producing capital asset ownership. One may think, well that is how it has always been, and I would have to agree. But is this what we should want and expect for our future and for our children and grandchildren? There is a more just way. We can reform the system so that the capital ownership concentration mechanism is disabled and replaced with a new system whereby new capital asset formation is created using financial mechanisms that provide asset-backed new money extended to EVERY citizen to acquire personal ownership shares in the FUTURE growth capital assets of the economy. This would take the form of extending insured, interest-free capital credit to EVERY child, woman and man to acquire newly issued shares of full-dividend paying stock by the viable corporations growing the economy. The capital credit loans would be paid back with the earnings produced by the investments. There would be no requirement for past savings or equity pledges or reductions in current income and benefits. Either private capital credit insurance and/or government reinsurance would substitute for the past savings security requirement. If you would like to learn more about the proposals for such a system reform and dive deeper into the specifics and the supporting economic policies to completely eliminate the concentration of capital ownership wealth, see the proposed Capital Homestead Act and the agenda of the Just Third Way. These are the nucleus ideas supported in the platform of the Unite America Party. Support the Capital Homestead Act at cesj.org/learn/capital-homesteading/capital-homestead-act-a-plan-for-getting-ownership-income-and-power-to-every-citizen/ and cesj.org/learn/capital-homesteading/capital-homestead-act-summary/. Support the Agenda of The Just Third Way Movement at foreconomicjustice.org/?p=5797, cesj.org/resources/articles-index/the-just-third-way-basic-principles-of-economic-and-social-justice-by-norman-g-kurland/, cesj.org/wp-content/uploads/2014/02/jtw-graphicoverview-2013.pdf and cesj.org/resources/articles-index/the-just-third-way-a-new-vision-for-providing-hope-justice-and-economic-empowerment/. Support the Unite America Party Platform, published by The Huffington Post at huffingtonpost/gary-reber/platform-of-the-unite-ame_b_5474077.html as well as Nation Of Change at nationofchange.org/platform-unite-america-party-1402409962 and OpEd News at opednews/articles/Platform-of-the-Unite-Amer-by-Gary-Reber-Party-Leadership_Party-Platforms-DNC_Party-Platforms-GOP-RNC_Party-Politics-Democratic-140630-60.html.
Posted on: Tue, 30 Dec 2014 20:37:53 +0000
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