Equal rewards for gifts differing is a philosophy that is simple yet so few prescribe to it or acknowledge the truth of it, and many discount it as fantasy. Okay, so let’s delve a little into the mechanics of how we will achieve the principles I have outlined.
First principle:
Everyone owns the land they live on.
Real estate speculation and landlords profiting off of renters is wrong. The first steals money from honest families trying to own a home, and the second exploits people who can’t make the leap into buying a home. We make a law that states you can only own the land you live on. We keep it simple at first and maybe set limits on the size of land people can own later.
Speculators and landlords would have to sell land they own to the people living on it. The government will help people buy the land they live on by guaranteeing loans. Owners would be given one year to find a buyer or pay extra taxes (say 10% of the appraised land and home value) to a fund that guarantees loans for new home owners. The taxes would be based on the appraised value determined from property taxes.
The goal would be to convert all residential property (houses, apartments, townhomes, condos, etc.) to ownership by occupant. The land under an apartment complex would be divided into equal ownership percentages by the occupants.
Next principle:
Companies are owned only by employees.
All corporations would be owned solely by the employees. This would be the first step to giving equal rewards for gifts differing. This goes back to the principle of people owning the land they live on. They would own the company they work for and thus own the land that is owned by the company.
Employee ownership isn’t a stock program because there wouldn’t be any stock in companies. It is just an equal share of the ownership and profits of the company. If someone leaves the company there is no share to sell, the company ownership and profits are just divided by one less person. Government employees wouldn’t have ownership because the government is owned by all the people and everyone benefits from the profits and losses of it.
Like real estate speculators, stock speculators steal from honest working individuals (because a minority of the population own a majority of the stocks, mutual funds, etc.) There should be no outside ownership. If a company needs investment money it should look to its employees for investment, banks or even its customers for loans.
This plan could be implemented with a transition away from a stock market. Stock owners would be required to sell their stock back to the company only. Stock could be taxed at rate of 10% a year with the goal of eliminating stock and returning ownership to the company and thus the employees. Eventually the stock market would be eliminated completely.
We would see immediate benefits from employees owning the company they work for. These benefits would outweigh any capitalistic ideas of leveraging the company to outside stockholders to try to grow the company. The company would grow organically through employee dedication and honest market demand for products.
This is the sticky part: how would this socio-economic change take place? Through peaceful reform or revolutionary action? The top 1% of the of the US population own the majority of the wealth (income, land, stocks, etc,) and therefore also the government. It will take a social movement that doesn’t rely on the government to facilitate change. Also, this social movement can’t rely on the media for social change as we have in the past. For this social change to happen, Bill Moyers says, “We can’t count on the mass media. What we need is a mass movement of people.”