Government
has proven itself a powerful tool in growing businesses, and it
is a tool over which we all have control. Below is a list of specific
proposals (we call it the Equitable Business Agenda), which are
all based on tried and true ways to stimulate business growth. Our
goal is to harness these techniques to create a large-scale movement
toward a more equitable economy.
Equitable Business Agenda:
We hope government will support the startup and
growth of Equitable Businesses, defined as strong, sustainable businesses
that equitably allocate ownership and wages. That means a living
wage, minimum 10% profit sharing, and a minimum 10% ownership of
company assets for all employees. Here are the proposals:
Introduce an Equitable Business Tax Credit,
that gives credits on corporate tax proportional to the amount of
profit sharing and ownership shared with line employees above a
10% minimum, culminating with no corporate taxes for 100% worker
coops;
Carve out 2% for Equitable Business. Carve
out 2% of public employee pension funds and federal-controlled endowments
to be invested - through qualified investment professionals - in
Equitable Businesses.
Give Equitable Businesses Access to Capital.
Give Equitable Businesses equal attention by carving out funds in
federal loan and investment programs (similar to help given to minority
and small businesses);
Provide Expert Help to Grow New Equitable Businesses.
Provide federal seed money to a network of experienced technical
assistance providers and incubators to help start-up Equitable Business
entrepreneurs. In the long term, this network will be funded through
a fee paid by all Equitable Businesses equal to 2% of profits.
Award Contracts to Equitable Business.
Give preference in the awarding of federal contracts to equitable
businesses, adding additional bidding points proportional to the
amount of ownership and profits shared;
Challenge Big Business and Nonprofits
to follow the example. Provide incentives for all foundations,
religious institutions, financial institutions and universities
to invest 2% of their endowments or Community Reinvestment Act funds
in Equitable Businesses.
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