How Bernie Sanders would give power to workers in their companies

[JoeOtterbein]

(The article was written by this proud father, who just happens to be this long-time DU reader)

[link:https://www.politico.com/news/2019/10/14/bernie-sanders-2020-election-workers-046660|

By HOLLY OTTERBEIN 10/14/2019 11:57 AM EDT

Bernie Sanders unveiled a multi-pronged plan Monday aimed at giving more power to workers in their companies, ending corporate greed, breaking up monopolies and increasing taxes on big businesses.

“For more than 40 years, the largest and most profitable corporations in America have rigged the tax code and our economy to redistribute wealth and income to the richest and most powerful people in this country,” the Vermont senator said in a statement. “The American people are saying enough is enough.”

Sanders put out the proposal as he was off the campaign trail recovering from a heart attack. He participated in a union-sponsored candidate forum Sunday via video, and said he will attend Tuesday’s Democratic debate.

What would the plan do?
Sanders wants to provide workers with an ownership stake in their businesses: Under his proposal, employees at large companies would be given 20 percent of the shares. They would also have control of 45 percent of the seats on the board of directors at corporations.

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more at link...

[no_hypocrisy]

1. Workers cooperatives

https://en.wikipedia.org/wiki/Worker_cooperative


When Workers Own Their Companies, Everyone Wins
https://www.huffpost.com/entry/when-workers-own-their-co_b_5682470

[George II]

9. ESOPs have been in existence since 1956.

[wasupaloopa]

2. That is what not being s capitalist means. You think you can demand

that corporations give their stock away.

Everyone else owning stock holds it for investment.

You can demand that corporations give up seats in the board.

This will be hailed by the other non capitalists as only fair!

Henry Ford did that in order to keep people working on a miserable job. That and a $5 a day wage and an Eight hour work day.

[Me.]

3. Right

Just being bossy won't do it...

[InAbLuEsTaTe]

4. Another reason to vote for Bernie... he's got this!!

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

[George II]

5. Not really.

[myohmy2]

7. +1

"Under his proposal, employees at large companies would be given 20 percent of the shares. They would also have control of 45 percent of the seats on the board of directors at corporations."

...sounds got to me...

[InAbLuEsTaTe]

10. Obviously politicians beholden to corporations won't like it... but then, We The People do!!

That's all that really matters!!


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

[George II]

6. His "idea" isn't revolutionary. Workers have had an opportunity to have an ownership stake....

....in their businesses for more than sixty years, if not longer. Publicly traded companies enable anyone to have an ownership stake in ANY company.

I worked for an ESOP (look it up) for 16 years, it greatly benefited my retirement. I also worked for Honeywell for 10 years, I own quite a bit of shares in that company, too.

Again, a "new" idea that has been around for many decades.

[betsuni]

8. Wasn't it usual during the nineties dot.com bubble days for companies to

include stocks as part of employee's salaries? And Warren's plan from last year was that workers elect 40% of board seats, that 40% of the board would be workers.

[Nanjeanne]

11. Works really well in lots of other countries like a Germany, Austria, Denmark

Finland, France, Hungary, Luxembourg, the Netherlands, Norway, Poland, Slovakia, Slovenia, and Sweden in private companies and many additional countries in government companies where income inequality is much less than the US.

[Joe941]

12. A revolutionary idea. Bernie nailed it!