COG

Social Insurance Reform Discussion

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SOCIAL_INS: From Norman G. Kurland

This is forwarded on behalf of Norm Kurland who was not subscribed when
he first sent it. He is now also subscribed to this listserv.

>From: owner-social_ins@cog.kent.edu
>Date: Thu, 29 Aug 2002 20:01:27 -0400
>From: "Norman G. Kurland" <thirdway@cesj.org>
>Subject: Universal Capital Credit to Save Social Security
>
>Let me put something on the table for saving the Social Security and
>Medicare System.  As far as I know, this brief two-page paper offers the
>simplest and most direct strategy to achieve that objective in a
>bipartison way.
>
>You can retrieve this proposal from the CESJ web site at  How to Save
>the Social Security System or at the URL
>http://www.cesj.org/homestead/reforms/other/savingsocialsecurity-nk.html.
>
>The COG virtual library is urged to replace the year 2000 version with
>this more updated version.
>
>This proposal would avoid the hazards of investing trillions of dollars
>of employer and employee payroll taxes into a relatively stagnant pool
>of already outstanding corporate securities, the value of which will
>certainly create a new "bubble" in inflated values in the secondary
>securities market, a heightened short-term gambling mentality among
>investors, and a market increasingly vulnerable to manipulation by
>financial insiders.
>
>It would turn the table on Wall Street by going around them to Main
>Street for financing faster rates of private sector economic growth
>without inflation.  (It is not intended to destroy Wall Street, but it
>is intended to put Wall Street in its proper place politically and
>economically.)  By favoring investment over speculation in how money and
>credit flows into the economy, this proposal would take away Wall
>Street's current near-monopoly of control over the productive sectors of
>the economy.  It would offer a form of real economic democracy, without
>which political democracy will remain vulnerable to the controllers of
>money.
>
>It is conceivable that this proposal could be launched by a liberal
>interpretation of Section 13 of the Federal Reserve Act, with minimal or
>no legislation to get it off the ground.  The proposal is designed to
>create a national ownership culture, combining the best principles of
>the right and the highest ideals of the left.  And it would remove all
>systemic barriers to lifting all American families into significant
>ownership accumulations, as explained in the paper.  Instead of having a
>tiny elite continue to trickle down benefits to workers, the unemployed
>and other citizens shackled to a system of mass dependency, mass
>insecurity and mass powerlessness, corporate leaders in need of capital
>would have to reach out and persuade their workers and other ordinary
>citizens of the soundness of buying newly-issued shares.  Most
>important, it would move money power from the bottom-up, rather than the
>top-down.
>
>There are those who favor the top-down or piecemeal approach to ideas.
>I would agree that peaceful change will necessarily be incremental and
>evolutionary.  But in the realm of ideas that will transform an
>inherently unjust and unfree "wage slave" system, particularly since the
>wake-up call of September 11, 2001, I'm prospecting for fellow
>revolutionaries.
>
>Does anyone have a more comprehensive and simpler way to address this
>problem?  Why will this not work?
>
>If you're interested, read the proposal and give me your feedback.
>
>
>Norm Kurland
>Center for Economic and Social Justice
>Web site: http://www.cesj.org
>
>
>Does anyone have a more comprehensive and simpler way to address this
>problem?  Why will this not work?
>
>Norm Kurland
>Center for Economic and Social Justice
>Web site: http://www.cesj.org
>
>--Boundary_(ID_KaGD7xQGxZdORyi7lmpLCQ)
>Content-type: text/html; charset=us-ascii
>Content-transfer-encoding: 7BIT
>
><!doctype html public "-//w3c//dtd html 4.0 transitional//en">
>Let me put something on the table for saving the Social Security and 
>Medicare System.  As far as I know, this brief two-page paper offers the 
>simplest and most direct strategy to achieve that objective in a 
>bipartison way.
>
>You can retrieve this proposal from the CESJ web site 
>at 
><http://www.cesj.org/homestead/reforms/other/savingsocialsecurity-nk.html>How 
>to Save the Social Security System or at the URL 
><http://www.cesj.org/homestead/reforms/other/savingsocialsecurity-nk.html>http://www.cesj.org/homestead/reforms/other/savingsocialsecurity-nk.html.
> 
>
>The COG virtual library is urged to replace the year 2000 version with 
>this more updated version.
>
>This proposal would avoid the hazards of investing trillions of dollars of 
>employer and employee payroll taxes into a relatively stagnant pool of 
>already outstanding corporate securities, the value of which will 
>certainly create a new "bubble" in inflated values in the secondary 
>securities market, a heightened short-term gambling mentality among 
>investors, and a market increasingly vulnerable to manipulation by 
>financial insiders.
>
>It would turn the table on Wall Street by going around them to Main Street 
>for financing faster rates of private sector economic growth without 
>inflation.  (It is not intended to destroy Wall Street, but it is intended 
>to put Wall Street in its proper place politically and economically.)  By 
>favoring investment over speculation in how money and credit flows into 
>the economy, this proposal would take away Wall Street's current 
>near-monopoly of control over the productive sectors of the economy.  It 
>would offer a form of real economic democracy, without which political 
>democracy will remain vulnerable to the controllers of money.
>
>It is conceivable that this proposal could be launched by a liberal 
>interpretation of Section 13 of the Federal Reserve Act, with minimal or 
>no legislation to get it off the ground.  The proposal is designed to 
>create a national ownership culture, combining the best principles of the 
>right and the highest ideals of the left.  And it would remove all 
>systemic barriers to lifting all American families into significant 
>ownership accumulations, as explained in the paper.  Instead of having a 
>tiny elite continue to trickle down benefits to workers, the unemployed 
>and other citizens shackled to a system of mass dependency, mass 
>insecurity and mass powerlessness, corporate leaders in need of capital 
>would have to reach out and persuade their workers and other ordinary 
>citizens of the soundness of buying newly-issued shares.  Most important, 
>it would move money power from the bottom-up, rather than the top-down.
>
>There are those who favor the top-down or piecemeal approach to ideas.  I 
>would agree that peaceful change will necessarily be incremental and 
>evolutionary.  But in the realm of ideas that will transform an inherently 
>unjust and unfree "wage slave" system, particularly since the wake-up call 
>of September 11, 2001, I'm prospecting for fellow revolutionaries.
>
>Does anyone have a more comprehensive and simpler way to address this 
>problem?  Why will this not work?
>
>If you're interested, read the proposal and give me your feedback.
>
>
>Norm Kurland
>Center for Economic and Social Justice
>Web site: <http://www.cesj.org>http://www.cesj.org
>
>
>Does anyone have a more comprehensive and simpler way to address this 
>problem?  Why will this not work?
>
>Norm Kurland
>Center for Economic and Social Justice
>Web site: <http://www.cesj.org>http://www.cesj.<http://www.cesj.org>org

http://cog.kent.edu