I was born in 1948, at the foot of an enchanted mountain whose spirit enjoins me to rise higher

Ordinary citizen, empathetic contemplator (maybe a little too empathetic to be fully comfortable in the world, as it is). Don't look for academic credentials; this guy has none, save those gained over the course of many interesting (and, at times, difficult) life chapters, spent surviving on a shoestring budget.

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Wednesday, March 17, 2010

An ace in the hand - shareholders

A big part of the logic of this general approach depends on the pressure that shareholders would be likely to put on company executives to enhance the viability of the companies in which said shareholders had bought stock.
When you're the head of a significant enterprise, as we have been shown of late, being able to guarantee that you have Uncle Sam standing just behind your right shoulder during shareholder meetings with a big bag of money at the ready to help you get by is nothing to be sniffed at, especially when the stakeholders in that company have it in their power to discontinue your employment. During a recession, it could be a lifesaver for the company and a career-saver for you.
Come tax time, the federal government could drive the point home by sending a form letter to all taxpayers who own stock, via the IRS, advising them of the program's existence and the potential advantages to them of their shares being under the wing of the program. It would be similar in the way it worked to the FDIC insured advisories behind the products of more reputable financial investment companies.
It isn't hard to see who wins in the POPE program - most of the workers in the payroll, the company itself, the shareholders, the economy and the American socio-political compact. The small minority who would give up some material advantage to make this possible don't lose anything they absolutely need while, at the same time, gaining membership among an esteemed group of people the country could use more of.
To be sure, the sacrifice made by the most well-paid would make a relatively insignificant difference to the overall enjoyment of their lives. For the civically-minded, it might even improve their lives. Numerous studies on the connection between wealth and health and happiness bear that out.
In stark contrast, for those at the bottom, that very same money would produce a HUGE increase in access to things the rich take for granted - rent money, mortgage payments, car insurance, dental or medical care, childcare, education opportunities, vacation opportunities, etcetera - making their lives significantly more enjoyable.
As to what serves the Greater Good more - subscribing to the program versus not doing so - the contest is something of a moral pushover.

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