On August 5, 2013, Joe Newby writes on the Examiner.com:
According to Rep. Keith Ellison, the government really isn’t broke — it just doesn’t have everyone’s money. At least not yet, according to an article posted Sunday at Townhall.
“The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it,” Ellison told a gathering of the Progressive Democrats of America in Washington. “The government has a right, the government and the people of the United States have a right to run the programs of the United States. Health, welfare, housing – all these things.”
Ellison was pushing his latest income redistribution program, called the “Inclusive Prosperity Act,” a measure that would levy a sales tax on the trading of stocks, bonds and derivatives.
According to Ellison, if passed into law, the bill would “add a tax of a fraction of a percent on transactions made by the same Wall Street firms and stock traders who crashed our economy in 2008.”
He went on to say it would raise an estimated $300 billion per year in revenues that would be used to fund “international sustainable prosperity programs such as health care investments, AIDS treatment, research and prevention programs, climate change adaptation and mitigation efforts by developing countries, and international assistance.”
Any attack on private property should have an escape clause whereby the tax extraction is eliminated upon demonstration that the “company” has implemented financial mechanisms that enable employees and others to acquire ownership in wealth-creating, income-generating productive capital assets.
The focus should not be on socialistic “income redistribution” but on financing economic growth in ways that broaden individual ownership of the FUTURE physical productive capital assets of a growth economy, thereby connecting people with earnings generated from their productive capital asset portfolios, to supplement their labor wages or entirely eliminate their need to be employed or dependent on taxpayer-supported government welfare, open and concealed.
Let’s connect every American with a growing, viable wealth-creating, income-generating ownership interest in America’s FUTURE non-human productive capital assets, embodied in corporations. Let the “machines” do the work but ensure that we, as individuals, own the “machines” and thus the private property entitlement to the earnings generated.
Reduction or elimination of corporate income taxes should be an incentive when corporations finance FUTURE growth enabling their employees and others to acquire ownership with “future savings (earnings).
See “Financing Economic Growth With ‘FUTURE SAVINGS’: Solutions To Protect America From Economic Decline” at NationOfChange.org http://www.nationofchange.org/financing-future-economic-growth-future-savings-solutions-protect-america-economic-decline-137450624
Support the Capital Homestead Act at http://www.cesj.org/homestead/index.htm and http://www.cesj.org/homestead/summary-cha.htm
“After 237 years of hard labor, most Americans own nothing, not even their own being. We have lost our identity. The “master-state” tells us how much “tax”; who gets the bailout and how much; who lives and who dies; and soon, whom and what to pray, ifat all. This cold terror has spread all over America and the world. “Who and what should we fear next?” Instead of, what are we building for our posterity and what “collective will” do we aspire to, or own. E pluribus unum.” ~ Whom shall I fear?” 2008.
