Thursday, August 22, 2013

Stafford on Pope Francis & "Savage Capitalism" | National Catholic Reporter

Stafford on Pope Francis & "Savage Capitalism" | National Catholic Reporter by MSW.  MGB: Michael Stafford (who is American) is correct that the cure is Social Democracy (also known as Democratic Socialism or even Libertarian Socialism).  I've got a few ideas in this area myself, including a $500 per month per child tax credit (with the states putting up an additional $200 to $700 depending on their cost of living) and an evenly credited Social Security employer contribution (without regard to wage level) with a deduction for personal retirement accounts holding employer voting stock (non-stock companies get no deduction) - with an insurance fund holding a third of each account so that no one goes hungry if their employer fails.  Companies in the supply chain should do this as well and sales to an ESOP would continue to be tax free (so that the Walton heirs have an incentive to divest).  Wal-Mart as an employee owned firm could be quite the force for good.

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