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August 6, 2017




Economic Democracy includes the right to be protected from contributing community funds to those who are able to compete in the market.


We all know that tax shelters, large corporate subsidies and tax loopholes are inimical to Economic Democracy because they represent transfers of wealth from the rest of us, you and me, into the hands of those with the most ability to compete in a free enterprise market society. They need to be phased out and eliminated.

For example, take the “Oil Depletion Allowance”. Does anyone in the world believe that any oil company would not drill for oil without it? And if they did need it, why is it that once they do find oil they do not pay us back (it is our money after all) with interest? They certainly would make us pay it back if we borrowed money from them (and make us put up security as well). And why after they used our money to find and drill for the oil, do they sell the oil back to us at the highest price offered? (Remember whoever offers the highest price gets the oil. They are not competing for our dollars we are competing for their oil).

The same should occur with agricultural subsidies to large agricultural entities. Why is it that these large entities like the oil companies and agribusiness cannot compete without subsidies from you and me and why don’t they pay us back?

These redistributions of wealth need to be eliminated before we cut governmental expenditures of any kind. If there is to be a pain to be suffered to get the budget under control, the pain should start there. And, if it is argued that these entities are too big and too powerful, then that is precisely what Economic Democracy is intended to combat.

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