note however that capital naturally seeks deregulation.
some might theorize that an initially perfectly regulated capitalistic economy would still become deregulated so long as laborers are separated from the output of their labor—a defining characteristic of everything labeled capitalism.
(again: theory. just expressing the devil’s advocate here don’t come at me no harm meant 😊)
I mean that pretty much is what happened in the US at least. The corporate tax rate was substantially higher and so individual take rate on the richest Americans post-WW2 and pre-Regan. Public works were well funded and having a government job meant you had a stable and well paying salary. Private business owners pushed congress to ease up on the tax rate ‘to spur private business growth and create jobs’, especially since original justification of funding the war effort disappeared.
While private business did grow more from the eased up taxes, what happened more was that the owners of these companies started raking in more and more in net profits. Suddenly the pay differential between the workers and the factory owners started to balloon to a much greater level.
By the time Regan came in, this process then started to snowball even more to what we see today since Regan cut corporate tax rate even more than Republicans did previously post-WW2.
To think, we could have had well funded public programs for decades. Standard jobs could have been paying a living wage still, like it was expected for them to do back then.
Tbh, I think you need protections that are hard to remove by greedy individuals and politicians. If regulations required a 2/3 majority of the votes in both chambers to lower that could prevent a lot of shenanigans. I don’t think everything necessarily should have that high of a barrier, but regulations and protections are usually prime targets for those seeking to make a quick buck.
I personally think workers could have proportional share of ownership in a company. At least then they directly benefit when the company benefits, much like the owners currently do. Maybe something like the 30% ownership by the CEO, 50% ownership by the employees, and 20% ownership split between the local community/county/state/federal government. If the public has partial ownership their needs become more of the forefront, and it can help bring resources back into the local communities. If not public ownership, then steeper corporate tax rates of larger corporations, potentially even having corporate tax brackets like exist for private citizens.
I personally think workers could have proportional share of ownership in a company. At least then they directly benefit when the company benefits, much like the owners currently do. Maybe something like…
Yes. And to add some concreteness: The workers get an equal say in how that share is distributed. It’s normal of course for businesses to have specialized versus mid range versus probationary wages and things will absolutely vary from business to business and field to field. It’s more equitable that workers get an equal say than it is that they get equal pay.
(Just came up with that rhyme myself I feel clever lol.)
note however that capital naturally seeks deregulation.
some might theorize that an initially perfectly regulated capitalistic economy would still become deregulated so long as laborers are separated from the output of their labor—a defining characteristic of everything labeled capitalism.
(again: theory. just expressing the devil’s advocate here don’t come at me no harm meant 😊)
I mean that pretty much is what happened in the US at least. The corporate tax rate was substantially higher and so individual take rate on the richest Americans post-WW2 and pre-Regan. Public works were well funded and having a government job meant you had a stable and well paying salary. Private business owners pushed congress to ease up on the tax rate ‘to spur private business growth and create jobs’, especially since original justification of funding the war effort disappeared.
While private business did grow more from the eased up taxes, what happened more was that the owners of these companies started raking in more and more in net profits. Suddenly the pay differential between the workers and the factory owners started to balloon to a much greater level.
By the time Regan came in, this process then started to snowball even more to what we see today since Regan cut corporate tax rate even more than Republicans did previously post-WW2.
To think, we could have had well funded public programs for decades. Standard jobs could have been paying a living wage still, like it was expected for them to do back then.
Tbh, I think you need protections that are hard to remove by greedy individuals and politicians. If regulations required a 2/3 majority of the votes in both chambers to lower that could prevent a lot of shenanigans. I don’t think everything necessarily should have that high of a barrier, but regulations and protections are usually prime targets for those seeking to make a quick buck.
I personally think workers could have proportional share of ownership in a company. At least then they directly benefit when the company benefits, much like the owners currently do. Maybe something like the 30% ownership by the CEO, 50% ownership by the employees, and 20% ownership split between the local community/county/state/federal government. If the public has partial ownership their needs become more of the forefront, and it can help bring resources back into the local communities. If not public ownership, then steeper corporate tax rates of larger corporations, potentially even having corporate tax brackets like exist for private citizens.
Yes. And to add some concreteness: The workers get an equal say in how that share is distributed. It’s normal of course for businesses to have specialized versus mid range versus probationary wages and things will absolutely vary from business to business and field to field. It’s more equitable that workers get an equal say than it is that they get equal pay.
(Just came up with that rhyme myself I feel clever lol.)