Five Economic Reforms Millennials Should Be Fighting For

Rolling Stone has the article Five Economic Reforms Millennials Should Be Fighting For.

4. Make Everything Owned by Everybody

Hoarders blow. Take, for instance, the infamous one percent, whose ownership of the capital stock of this country leads to such horrific inequality. “Capital stock” refers to two things here: the buildings and equipment that workers use to produce goods and services, and the stocks and bonds that represent ownership over the former. The top 10 percent’s ownership of the means of production is represented by the fact that they control 80 percent of all financial assets.

This detachment means that there’s a way easier way to collectivize wealth ownership than having to stage uprisings that seize the actual airplanes and warehouses and whatnot: Just buy up their stocks and bonds. When the government does that, it’s called a sovereign wealth fund. Think of it like a big investment fund that buys up assets from the private sector and pays dividends to all permanent U.S. residents in the form of a universal basic income. Alaska actually already has a fund like this in place. If it’s good enough for Levi Johnston, it’s good enough for you.

This is exactly what I am suggesting for the Social Security Trust Fund. I didn’t want to mention this aspect of what would happen if the fund invested this way for fear that the 1% might wake up to this fact. Now that Rolling Stone has let the cat out of the bag, I guess there is not point in hiding this anymore.

It was the Daily Kos article When are we going to invade communist Alaska? that led me to the Rolling Stone article.

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