Forum Post: Reforming Wall Street!
Posted 13 years ago on Oct. 4, 2011, 9:19 a.m. EST by soundendurance
(4)
This content is user submitted and not an official statement
A living wage first, profits second.
Individuals are smart enough to earn employers profits, they are smart enough to earn a living wage.
Solution: Creation of Underemployment Tax and Unemployment Vouchers
The underemployment tax will calculate the total dollar amount of individuals underemployed. Underemployed individuals are those earning less then a living wage, on a per hour basis.
The underemployment amount will be used in conjunction with the employment income (gross income - [number of employees x living wage]) of businesses to determine their underemployment tax.
Example: Joe’s deli has an employment income of 20k, Tom’s Oil Co’s employment income is 300m while Megamart’s employment income is 15.4b with a total underemployment amount totaling 1b.
The underemployment tax is determined by calculating the total employment income of all employers, dividing the individual employment income of each employer by the total which returns their percent of underemployment income. That percent is their underemployment tax rate. Times that percent by the total underemployment amount and that is their underemployment tax due.
Underemployment Amount 1,000,000,000
Emp----Emp Income--------UnderEmp Tax Rate-----UnderEmp Tax A--------$20,000-------------0.0000013---------------$1,274 B--------$300,000,000-------0.0191083---------------$19,108,256 C--------$15,400,000,000---0.9808905---------------$980,890,470 Total---$15,700,020,000-------------------------------$1,000,000,000
Those who hire workers receive the benefit of a lower underemployment tax and a higher production capacity. Those who do not hire, receive the benefit of their tax dollars being spent on those capable of hiring, adding to the overall production capacity of our nation. It's a win, win!
Critical fail- using numbers. Not the right crowd. The number people are the ones INSIDE the buildings.......
Corporate Free Speech There needs to be better corporate representation. Money is speech. Every individual, even individual stockholders, "ownership," has a right to free speech. Free speech means no one can force or prevent an individual's speech. Ownership has the right to direct the corporation's speech and political contributions. Majority control of contributions may violate an individual's free speech. Corporate management can speech for the corporation, but ownership needs to authorize that speech. No speech or money spent on political contributions may be made without ownership authorization and such contributions must be taken from the individual's dividends. No dividends means there is no allowance for contributions. Corporate management must poll the ownership to determine the amount and placement of all individual stockholder directed contributions. The assignment of all corporate contributions must be made public so that ownership can verify the correct placement of their contributions. Management can not make contributions on the behalf of nonresponsive ownership and thus can only make contributions for which they have been directly authorized.
Money is speech. Corporations are people, because people get the money. Free speech means people are not forced to pay for someone else's speech. Corporations may not force to pay or deny dividends, to a person who does not approve of money spent on speech. Corporations may only spend money on speech that is taken, by approval, from the people who get the money. Every person who gets money, from the corporation, must approve the money spent on speech, in order to protect the right to free speech. Since the money spent on speech is identifiable with a person then that money is subject to caps associated with that person and must be reported. Also, tax consequences flow, to each person, for tax exempt contributions. If the corporation feels that the cost of polling and reporting the money spent on speech is prohibitive, then the corporation is prohibited from spending on speech. Corporations spend money on product ads and any political placement in a product ad must have unanimous consent of ownership.
restore a living wage to labor and the balance of power will be restored. It will once again be We the People!
Corporations are not people, a corporation is an entity which can and does outlive the people who established it.
This is a wealth redistribution idea. It will create only problems. There are other ways of reducing the unemployment % and creating a better workforce.
lol....what this is...this is ending the fraud. Wall Street profits by withholding just wages.
You believe it's just to earn others profits yet not receive a living wage...and you stand for liberty?
Wealth redistribution...huh? If it's earned, which a wage is, then is not being redistributed but withheld.
How are you defining "living wage"?
simple....what ever it takes to live, lawfully, in a given area.
LIVE according to natural law which demonstrates one (home maker) guards the nest (home/children) while the other gathers the worms (earns a living). This is true liberty. For a single wage that supports the nest (family) is a wage that liberates the family.
This liberating wage is the basis for creating wealth within the home. This is far superior to storing wealth at the corporate or governmental level. When a worker is defrauded of their full wage, it is assumed the individual is smart enough to earn others a profit but to stupid to manage a living wage.
A living wage affords individuals the opportunity to care for their selves, individually.
Since 80% of those living under the poverty level own their home, 60% have at least one car, 75% have cell phones... I'm guessing that the living wage is less than the poverty level right? What $figure would you put on it?
80% living under the poverty level own their own home???...so their labor is worth-less then the individual who lives in a million dollar home but does not own it?
A number...well, what does it cost for a single individual to live in a home, pay the utilities, pay the upkeep, pay to get to and from work, pay to feed and clothe their family, have savings for their aged years.
Market forces and merit based pay have their place but to defraud labor of a living wage for profit is unjust.