Bernie Sanders's plan to reshape corporate America, explained

[Uncle Joe]

(snip)

“This is the most ambitious plan on corporate ownership ever put out by a presidential candidate,” Peter Gowan, with the Democracy Collaborative, an economic inequality-focused research institution, said. “[This is] giving real bones to Sanders’ vision of democratic socialism.”

(snip)

The centerpiece of Sanders’s Corporate Accountability Plan is a proposal to shift power to workers by requiring all large companies — those with at least $100 million in annual revenue, and all publicly traded companies — to come under partial employee-ownership.

The idea is to require large companies to contribute 2 percent of their stocks annually to an employee-controlled fund until workers control 20 percent of the company, and then pay out the dividends to those workers. The campaign estimates the plan would impact 56 million workers at more than 22,000 companies in the United States.

(snip)

Overall, this proposal could have enormous impact on the current makeup of the US economy. A Rutgers University study on employee ownership found that employee stock ownership plans have been successful in increasing workers’ assets and in closing racial and gender wealth gaps in the workplace. And research from countries like Germany, which have codetermination policies in place, have much higher levels of pay equality, and have seen positive results on productivity and innovation.

(snip)

https://www.vox.com/2019/10/14/20912221/bernie-sanders-corporate-accountability-ftc-merger-tax

This is a good read.

[oldsoftie]

1. Yes, it WOULD have an enormous impact. And it is also impossible unless you incentivize it.

Which Sanders would likely be against.

[The Velveteen Ocelot]

2. ESOPs have been around for some thirty years.

Is he proposing to make them mandatory? If so, how does he also propose to get Congress to do that?

[George II]

3. Actually longer than that, the first one was started in 1956. I worked for a company...

....for sixteen years that is an ESOP. It was great and made my retirement a lot more comfortable. Some people who worked there longer became millionaires when they retired.

I don't think his proposal is calling for traditional ESOPs, his proposals are so vague (and usually unworkable in the real world)

[InAbLuEsTaTe]

4. More reasons why Bernie's got this!! Thanks for posting.

Bernie/Elizabeth or Elizabeth/Bernie 2020!!
Either way, they're stronger together!!
Welcome to the revolution!!!

[Uncle Joe]

7. ...

[PhoenixDem]

5. Nothing new here

Most corporations have employee stock options as rewards.

Leave it to BS to make it sound like a novel idea with the uninformed devotees eating it up.

[msongs]

6. whattabout his friends at lockheed? nt

[Joe941]

8. Bernie nails it again. Great plan!