While Robert Reich has NO solutions other than the NON-Workable redistributive policies he advocates, which will further depress the American economy, there are REAL SOLUTIONS that address the REAL root causes of economic inequality. The Federal Reserve System needs to be reformed to act as a purveyor of economic growth. Influential economists and business leaders, as well as political leaders, should read Harold Moultons The Formation Of Capital, in which he argues that it makes no sense to finance new productive capital out of past savings. Instead, economic growth should be financed out of future earnings (savings), and provide that every citizen become an owner. The Federal Reserve, which has been largely responsible for the powerlessness of most American citizens, should set an example for all the central banks in the world. Chairman Janet Yellen and other members of the Federal Reserve need to wake-up and implement Section 13 paragraph 2, which directs the Federal Reserve to create credit for local banks to make loans where there isnt enough savings in the system to finance economic growth. We should not destroy the Federal Reserve or make it a political extension of the Treasury Department, but instead reform it so that the American citizens in each of the 12 Federal Reserve Regions become the owners. The result will be that money power will flow from the bottom up, not from the top down––not for consumer credit, not for credit that doesnt pay for itself or non-productive uses of credit, but for credit for productive uses to expand the economys rate of growth. The Capital Homestead Act (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/) would grow the U.S. economy faster in a non-inflationary way, create new private sector jobs, finance new productive capital and provide capital incomes for all Americans from the bottom-up by enabling them to own trillions annually in new capital formation and transfers in current assets . . . without taking private property rights away from billionaires such as Nick Hanauer over their existing assets. The wage system is the cancer. The ownership system is the answer to address the problem Hanauer wants to solve.If you want to change this gross economic inequality support the Platform of the Unite America Party.What Edsall and Fremstad, the Democrats and Republicans and all third party leaders need to advocate is their ability to lead America on a path based on a paradigm shift to an equal opportunity economic democracy. The JUST Third Way is a radical overhaul of the economic system (i.e., the Federal tax system, Federal Reserve policy, inheritance law, welfare and entitlement system, etc.) that will achieve genuine economic democracy, based on the Platform of the Unite America Party and its links and the proposed Capital Homestead Act. Our Platform is a call for a vision of political economy that can unite the left and the right, based on Louis Kelsos ownership-based paradigm. Now is the time to cure Americas political cancer (Crony Capitalism) and restore America to again becoming a model for global citizens in all countries. For a new vision 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. Along with the specific policies advocated in the proposed Capital Homestead Act, other policies require implementation to get money power to the 99 percent of American citizens who now only rely on their labor worker earnings. Under The Just Third Way more just and simple tax system, access would by provided to ownership of the means of production in the future to every child, woman and man by requiring the government to lift all existing legal and institutional barriers to private property stakes as a fundamental human right. The system was made by people and can be changed by people. Guided by the right principles of economic justice, “we the people” can organize and demand that the system be reorganized to make true economic democracy the new foundation for true political democracy. The following is proposed: • Eliminate all tax loopholes and subsidies,• Provide an exemption of $100,000 for a family of four to meet their ordinary living needs,• Encourage corporations to pay out all their profits as taxable personal incomes to avoid paying corporate income taxes and to finance their growth by issuing new full dividend payout shares for broad-based citizen ownership, • Eliminate the payroll tax on workers and their employers, but• Pay out of general revenues for all promises for Social Security, Medicare, Medicare, government pensions, health, education, rent and subsistence vouchers for the poor until their new jobs and ownership accumulations provide new incomes to substitute for the taxpayer dollars to fill these needs. • The tax rate would be a single rate for all incomes from all sources above the personal exemption levels so that the budget could be balanced automatically and even allow the government to pay off the growing unsustainable long-term debt, but the poor would pay the first dollar over their exemption levels as would the hedge fund operator and others now earning billions of dollars from capital gains, dividends, rents and other property incomes which under some tax proposals would be exempted from any taxes. • As a substitute for inheritance and gift taxes, a transfer tax would be imposed on the recipients whose holdings exceeded $1 million, thus encouraging the super-rich to spread out their monopoly-sized estates to all members of their family, friends, servants and workers who helped create their fortunes, teachers, health workers, police, other public servants, military veterans, artists, the poor and the disabled. • The Federal Reserve would stop monetizing unproductive debt, including bailouts of banks too big to fail and Wall Street derivatives speculators, and• Begin creating an asset-backed currency that could enable every man, woman and child to establish a Capital Homestead Account or CHA (a super-IRA or asset tax-shelter for citizens) at their local bank to acquire a growing dividend-bearing stock portfolio to supplement their incomes from work and all other sources of income. • The CHA would process an equal allocation of productive credit to every citizen exclusively for purchasing full-dividend payout shares in companies needing funds for growing the economy and private sector jobs for local, national and global markets, • The shares would be purchased on credit wholly backed by projected future savings in the form of new productive capital assets as well as the future marketable goods and services produced by the newly added technology, renewable energy systems, plant, rentable space and infrastructure added to the economy. • Risk of default on each stock acquisition loan would be covered by private sector capital credit risk insurance and reinsurance, but • Would not require citizens to reduce their funds for consumption to purchase shares. The end result is that citizens would become empowered as owners to meet their own consumption needs and government would become more dependent on economically independent citizens, thus reversing current global trends where all citizens will eventually become dependent for their economic well-being on our only legitimate social monopoly –– the State –– and whatever elite controls the coercive powers of government.
Posted on: Sat, 11 Oct 2014 22:11:19 +0000
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