'We are essentially in a new Gilded Age’: As workers get laid off, CEOs and shareholders gobble up hundreds of billions in profits
'We are essentially in a new Gilded Age’: As workers get laid off, CEOs and shareholders gobble up hundreds of billions in profits
CEOs cite the need to downsize in a rough economy, but it seems corporations are doing better than ever.
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Very simply. Raise their taxes.
Less simply. Remove the cap on social security tax. Tax long term capital gains beyond a certain amount as regular income. Put the top rate income tax closer to 90%. Fix the god damn estate tax situation. Why on god's green earth do the children of Sam Walton occupy so much space on the Forbes 400.
France will review your company's ledger if you want to fire people en masse. If you can afford to keep them you can't fire them
I mean, I guess, but why complicate this stuff. We already have the systems and administration to do taxes. We could break up monopolies and enforce the laws we already have.
I'd keep it real real simple for folks. We should stop letting corporations and their owner class privatize the gains and stick the rest of society with the losses. Take the 2008 fiasco, if we are bailing out a bunch of companies we should be bailing out a bunch of home owners.
Still doesn't feel good to get fired and get an unemployment check with all sort of conditions attached, just because some company decided to clean up operations after hiring way too much.
Non sequitur to my point, but to what you wrote... I would support that any bailouts come with the condition that 50%+ of the share capital is given to a Sovereign Fund. There should be no corporate welfare... Only investment opportunities.
Why complicate the onion by adding more layers? Why do we want a sovereign fund? Your solution just seems like another way to funnel more money to US corporations. We already let them switch to defined contribution 401k retirement funds. More money to companies public or private is just more money empowering little corporate fiefdoms.
We should simply tax these corporations and their owner class at a much higher rate. Take that money and fund social programs. For example, it is completely idiotic to have healthcare tied to employment and subsidizing it through the gov't.
If we removed corporate welfare from our system it would be really bad until something else took its place. We subsidize our entire food production system, removing that would drive up the cost of food. The Jones Act subsidizes our shipping industry. The price of drugs would also probably sky rocket the second you remove the public funding that goes into the early stage research.
And what happens to our military industrial complex when you remove corporate welfare?
The problem is we have Bezos playing rocket man and newspaper baron to the tune of three billion dollars a year. We have Musk fucking with our elections to the tune of some hundred million dollars a month. They have this money because we don't tax them. Tax that money away and they won't be fucking with shit.
Or we could abolish the employer-employee contract and mandate that all firms be worker coops, so that no one could appropriate the positive and negative fruits of other people's labor