Podcast
Questions and Answers
Poverty, racism, and ______ are dividing people, widening the gap between the haves and have-nots
Poverty, racism, and ______ are dividing people, widening the gap between the haves and have-nots
violence
The ______ Clock is moving closer to midnight due to the rising threat of nuclear war and natural disasters fueled by climate change
The ______ Clock is moving closer to midnight due to the rising threat of nuclear war and natural disasters fueled by climate change
Doomsday
Every person needs ______, opportunity, power, and justice to survive and thrive
Every person needs ______, opportunity, power, and justice to survive and thrive
freedom
Jobs alone won't bring economic security; each person also needs a share of ______ in growing businesses
Jobs alone won't bring economic security; each person also needs a share of ______ in growing businesses
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President Abraham Lincoln enacted the ______ Act in 1862, providing a free and equal opportunity for non-owners to become owners of 160 acres of land in the western frontier
President Abraham Lincoln enacted the ______ Act in 1862, providing a free and equal opportunity for non-owners to become owners of 160 acres of land in the western frontier
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The ______ Democracy Act would offer a more sustainable, free market-oriented, and just way to finance new Capital being added and existing Capital transferred
The ______ Democracy Act would offer a more sustainable, free market-oriented, and just way to finance new Capital being added and existing Capital transferred
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Companies would sell new growth ______ or transfer existing shares that pay out full dividends and provide full voting rights to their owners
Companies would sell new growth ______ or transfer existing shares that pay out full dividends and provide full voting rights to their owners
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Citizens would have the right to receive, at no cost, a personal ______ of insured, interest-free Capital Credit each year to purchase new shares
Citizens would have the right to receive, at no cost, a personal ______ of insured, interest-free Capital Credit each year to purchase new shares
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Every citizen would get a ______ income exemption of $30,000 per adult and $20,000 per dependent
Every citizen would get a ______ income exemption of $30,000 per adult and $20,000 per dependent
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A single ______ rate would be calculated to pay government costs, including Social Security and Medicare, maintaining a safety net, and gradually paying off the national debt
A single ______ rate would be calculated to pay government costs, including Social Security and Medicare, maintaining a safety net, and gradually paying off the national debt
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Study Notes
Current State of the World
- Poverty, racism, and violence are dividing people, widening the gap between the haves and have-nots
- The prosperity and freedom of future generations, as well as the health of people and the planet, are being threatened
- The Doomsday Clock is moving closer to midnight due to the rising threat of nuclear war and natural disasters fueled by climate change
Basic Human Needs
- Every person needs freedom, opportunity, power, and justice to survive and thrive
- These needs are essential for citizens of a community, nation, and the world
Economy and Ownership
- We need a thriving economy that produces goods and services, with incomes from good jobs and growing businesses
- Businesses need customers with money to buy goods and services
- Working people must compete with lower-wage workers and labor-displacing technologies like artificial intelligence and robots
- Jobs alone won't bring economic security; each person also needs a share of ownership in growing businesses
- Capital earns profits for its owners, providing an independent source of personal income
- Spreading economic power and Capital ownership extends real political power to citizens
Historical Context
- President Abraham Lincoln enacted the Homestead Act in 1862, providing a free and equal opportunity for non-owners to become owners of 160 acres of land in the western frontier
- General William Sherman's promise of 40 acres and a mule to freed slaves in 1865 was later reversed
- The Homestead Act created many new citizen owners, turning America into the world's most productive agricultural economy
- After Lincoln's assassination, his vision of widespread citizen ownership was abandoned as America moved into the Industrial Age
- The ownership of industrial and commercial wealth became concentrated in fewer hands due to industry and bank financing
The Economic Democracy Act
- A modern, just, and voluntary economic program is needed to develop the future technology frontier
- Every citizen needs equal ownership opportunities and the means of acquiring Capital over their lifetime
- The Economic Democracy Act would offer a more sustainable, free market-oriented, and just way to finance new Capital being added and existing Capital transferred
- The Act would stimulate real jobs, encourage entrepreneurship and innovation, and spread prosperity and economic power
How the Economic Democracy Act Works
- Companies would sell new growth shares or transfer existing shares that pay out full dividends and provide full voting rights to their owners
- Citizens would have the right to receive, at no cost, a personal allotment of insured, interest-free Capital Credit each year to purchase new shares
- The 12 regional Federal Reserve Banks would use their existing powers to create new money for Capital growth and transfers
- Risk would be covered by private sector Capital Credit Insurance and reinsurance
- Citizens would use their allotment of interest-free credit to invest in qualified shares, guided by their local bank or Certified Financial Advisor
Tax Reforms
- The Economic Democracy Act would introduce a more fair and simple single-rate personal income tax
- Every citizen would get a living income exemption of $30,000 per adult and $20,000 per dependent
- Businesses would be encouraged to finance their growth by selling new voting shares and deducting all dividends paid out to shareholders
- The Act would eliminate payroll taxes, corporate income taxes, and tax deductions, credits, and loopholes that mainly benefit the rich
- A single tax rate would be calculated to pay government costs, including Social Security and Medicare, maintaining a safety net, and gradually paying off the national debt.
Current State of the World
- Poverty, racism, and violence are dividing people, widening the gap between the haves and have-nots
- The health of people and the planet are being threatened by climate change and the rising threat of nuclear war
- The Doomsday Clock is moving closer to midnight due to these threats
Basic Human Needs
- Every person needs freedom, opportunity, power, and justice to survive and thrive
- These needs are essential for citizens of a community, nation, and the world
Economy and Ownership
- A thriving economy requires good jobs and growing businesses that produce goods and services
- Businesses need customers with money to buy goods and services
- Working people face competition from lower-wage workers and labor-displacing technologies
- Jobs alone don't provide economic security; each person needs a share of ownership in growing businesses
- Capital earns profits for its owners, providing an independent source of personal income
- Spreading economic power and Capital ownership extends real political power to citizens
Historical Context
- The Homestead Act of 1862 provided free land to non-owners, turning America into the world's most productive agricultural economy
- General William Sherman's promise of 40 acres and a mule to freed slaves was later reversed
- The ownership of industrial and commercial wealth became concentrated in fewer hands after the Industrial Age
- America abandoned Lincoln's vision of widespread citizen ownership
The Economic Democracy Act
- A modern, just, and voluntary economic program is needed to develop the future technology frontier
- Every citizen needs equal ownership opportunities and the means of acquiring Capital over their lifetime
- The Act would stimulate real jobs, encourage entrepreneurship and innovation, and spread prosperity and economic power
How the Economic Democracy Act Works
- Companies would sell new growth shares or transfer existing shares with full dividends and voting rights to owners
- Citizens would receive a personal allotment of insured, interest-free Capital Credit each year to purchase new shares
- The 12 regional Federal Reserve Banks would create new money for Capital growth and transfers
- Risk would be covered by private sector Capital Credit Insurance and reinsurance
- Citizens would invest in qualified shares using their allotment of interest-free credit, guided by their local bank or Certified Financial Advisor
Tax Reforms
- The Act would introduce a more fair and simple single-rate personal income tax
- Every citizen would get a living income exemption of $30,000 per adult and $20,000 per dependent
- Businesses would be encouraged to finance growth by selling new voting shares and deducting dividends paid out
- The Act would eliminate payroll taxes, corporate income taxes, and tax deductions, credits, and loopholes
- A single tax rate would be calculated to pay government costs, including Social Security and Medicare, maintaining a safety net, and gradually paying off the national debt
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Description
Explore the pressing issues facing our world today, from poverty and racism to climate change and nuclear threats. Learn about the importance of freedom, opportunity, and justice for all.
