Employee ownership: a step toward bridging the wealth gap?
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- Опубликовано: 4 май 2024
- Joseph Blasi, Director of the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University on the politics and possibilities of employee ownership in today's economy.
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I currently work at an EOP company and the benefits are interesting. Besides the traditional 401K, the company also employ an “Employee Stock Ownership” system.
This is how it should be. The stores Winco and H‑E‑B do this.
Workers Unite!
Gawd bless Murica 🤓 🖕
When it comes to businesses "the most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives" but with that being said corporations are not going to share any kind of "profits" with their workers unless made to.
Yes I belonged to a successful ESOP company that helped us gain wealth for our retirement.
My Union helps me gain wealth for my retirement. The company pays into a Pension. Pensions use to be common now only union employees, politicians and city workers get Pensions? Mostly everyone else 401K or nothing. Seems like a scam to me! Just pay the empoyees what they deserve!
Oh, I thought Bill Gates let himself go.
🤣
Didn't know Roger Ebert was also into politics. Thumbs up, man. 👍
It won't matter. The only thing that can minimize the gap is high taxs on the rich. This is what is done in Europe & it works.
It worked up to the Eisenhower era, when the top tax rate was 90%. America prospered. Unions were strong. People bought houses, automobiles, televisions. Corporations had solid profits. Wall St. thrived. Ronald Reagan and his Republican Party's pro-corporate policies and cutting corporate tax rates while doing nothing for working- and middle-class Americans is where the rot began to set in our economic system. It has only gotten worse.
Employee ownership seems like a hard thing to swallow!! Why? We are living in a time where people just don't want to work!!
Also known as Profit Sharing. Good idea as long as people work. A few cannot pull the wagon for the many.
Well if you don't work you can't be part of the "profit sharing" that's a given, unless you are taking about something else?
Some companies offer stock but only at a discount to most employees only the managers, upper managers and executives get stock for free. Tesla, Comcast is a good example, 15% discount. 🤔
I am lucky to be involved in a successful company founded by my husband that is now an ESOP (owned by employees - NRS, Inc.).
The tragedy is that current federal tax policy makes it extremely expensive and difficult (prohibitive, actually) for founders, owners and shareholders to use this option. Current US tax penalizes owners who want to sell to an ESOP, stipulating that owners reinvest in securities that are of little value, Owners who pursue this option inevitably gain less from sales of a company than they would if they sold to a competitor and displaced dedicated employees invested in their communities,
The government pays lip service to developing small businesses as an enginen of economic growth - but as a wise tax advisor once said to me, 'The IRS hates small business.'
Worker ownership is a form of socialism. I lived in something like this, the issue is decision-making in companies makes them far less competitive. Committee-for-everything and nothing will get done. Elect management and bribes and nepotism start taking over competence. I've seen this in action. Even if it starts somewhat effective, in 20 years it devolves into what I describe.
its called stock options ... companiess already do this ... I wonder why he doesnt just recommend more this ... I wonder
Yeah well the current system isn't too great either. Way too much power in the hands of a few individuals and their capricious whims.
@@methos-ey9nf Indeed, we do have a form of oligarchy / corporatocracy.
Not a bad idea. This would help you feel less like an indentured servant as worker.
I’m all about companies implementing profit sharing.
But if you want to be successful, you have to constantly add to your skillset. You can’t sit at a job and never learn anything new and expect to get ahead.
THIS. People want to cry about losing manufacturing jobs for the same reason. They got complacent in the area of gaining skills and they settled and they want the economy growth to also settle with them. Same thing with the ai stuff right now ... people dont want to learn new skills so human civilivazation growth should stop right here.
No, it won't change anything.
Is that the same as a cooperative (co-op)?
It could be but there are many different ways to organize employee ownership. What they are talking about specifically in the video aren't cooperatives.
@@Misterz3r0 interesting! Then why he would not mention co-ops?
its called stock options ... companiess already do this
The company I work for became an ESOP in 2023. 😊
its called stock options ... companiess already do this
If it was not so complicated to give employees ownership and stock ls unless you are a ccorp more people would do it myself including
People should instead have diversified investments in the stock market which covers the best companies.
quite the unfortunate title
Co-ops
JUST PAY THE EMPOYEES WHAT THEY ARE WORTH. 99% OF THE WORK FORCE DON'T WANT THIS. REAGAN WAS A UBION BUSTER. ONCE YOU LEAVE THE COMPANY FOR ANY REASON YOU LOOSE IT ALL I'M JUST GOING TOO GUESS?
Not true. All ESOPs have a plan they are bound to follow. The plan for the ESOP I participate in does not provide any way for someone to lose their allocation. You cash out into another qualified retirement program if you leave the company.
*They have this now, it’s called a stock option!*
exactly
Said limited knowledge of in this world does not know about just own faith but it will get another way ' 😁
Hm. Workers owning the means of production. A completely new idea no one has ever thought of before. /sarcasm
its called stock options ... companiess already do this
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NO!
Gawd bless Murica 🤓 🖕
Ma’am, this is a Wendy’s.