Economic Democracy Act (EDA) Overview

The Economic Democracy Act (EDA)

• A comprehensive set of monetary, tax, and estate policy reforms aimed at economically empowering every American citizen, including the poorest of the poor.
• Designed to provide lifetime equality of access to market-based means for acquiring ownership of productive capital, while safeguarding private property rights.

Goals of the EDA

• Lift ownership-concentrating Federal Reserve credit barriers and accelerate private-sector growth linked to expanded ownership opportunities at a zero rate of inflation.
• Simplify the Federal tax system to eliminate budget deficits and ownership-concentrating tax barriers through a single-rate tax on all individual incomes from all sources above basic subsistence levels.
• Restructure inheritance and gift taxes to discourage transfers of monopolistic concentrations of wealth from one generation to the next.

Tax Reforms

• Eliminate payroll taxes on working Americans and their employers.
• Integrate corporate and personal income taxes.
• Exempt basic incomes of all citizens up to a level that allows them to meet their own subsistence needs and living expenses.

Vehicles for Democratizing Capital Ownership

• The Capital Ownership Account (COA): a primary tax-sheltered vehicle for democratizing capital credit through local banks.
• The Citizens Land Development Cooperative (CLDC): allows residents of a community to share in the control and profits associated with land planning and development, and infrastructure improvements.
• The Employee Stock Ownership Plan (ESOP): channels low-cost credit for financing business corporations and links private-sector workers to ownership shares and dividend incomes.
• The Consumer or Customer Stock Ownership Plan (CSOP): lets customers of utilities share in the ownership, governance, and profitability of "natural monopolies".

Policy Objectives

• Sustainable economic growth.
• A sound monetary system to empower every citizen.
• A more simple and fair tax system.
• Addressing major domestic challenges.
• Promoting justice in the corporation and workplace.
• Confronting global challenges.

The Economic Democracy Act (EDA)

• A comprehensive set of monetary, tax, and estate policy reforms aimed at economically empowering every American citizen, including the poorest of the poor.
• Designed to provide lifetime equality of access to market-based means for acquiring ownership of productive capital, while safeguarding private property rights.

Goals of the EDA

• Lift ownership-concentrating Federal Reserve credit barriers and accelerate private-sector growth linked to expanded ownership opportunities at a zero rate of inflation.
• Simplify the Federal tax system to eliminate budget deficits and ownership-concentrating tax barriers through a single-rate tax on all individual incomes from all sources above basic subsistence levels.
• Restructure inheritance and gift taxes to discourage transfers of monopolistic concentrations of wealth from one generation to the next.

Tax Reforms

• Eliminate payroll taxes on working Americans and their employers.
• Integrate corporate and personal income taxes.
• Exempt basic incomes of all citizens up to a level that allows them to meet their own subsistence needs and living expenses.

Vehicles for Democratizing Capital Ownership

• The Capital Ownership Account (COA): a primary tax-sheltered vehicle for democratizing capital credit through local banks.
• The Citizens Land Development Cooperative (CLDC): allows residents of a community to share in the control and profits associated with land planning and development, and infrastructure improvements.
• The Employee Stock Ownership Plan (ESOP): channels low-cost credit for financing business corporations and links private-sector workers to ownership shares and dividend incomes.
• The Consumer or Customer Stock Ownership Plan (CSOP): lets customers of utilities share in the ownership, governance, and profitability of "natural monopolies".

Policy Objectives

• Sustainable economic growth.
• A sound monetary system to empower every citizen.
• A more simple and fair tax system.
• Addressing major domestic challenges.
• Promoting justice in the corporation and workplace.
• Confronting global challenges.

Learn about the Economic Democracy Act, a comprehensive reform aimed at economically empowering every American citizen, including the poorest of the poor. Understand its goals and objectives.