This sounds an awful lot like https://en.wikipedia.org/wiki/Company_scrip, which has been illegal for a long time and for good reason.
Mark Cuban: fight inequality by giving all workers company stock
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Re: Mark Cuban: fight inequality by giving all workers company stock
#12Earlier quoted context omitted.
The mechanics of implementing UBI is relatively straightforward. Have the Fed buy up securities, ban stock buybacks to force dividends, issue FedAccounts to everyone entitled to a government backed deposit account, payments land in the account either monthly or bi weekly as an option. Tada. UBI. Just like social security payments, but funded by the profits of all concerns required to issue stock to enable some portio…
...and goods produced overseas would need to be heavily tariffed. But that was roundly criticized so where does that leave us?
I don't know if the criticism was of the notion of tariffs. Instead it was of the bone headed implementation by the Trump administration, where tariffs were not well thought out(we tariffed islands of penguins, but specifically exempted Russia and Belarus), and were not coupled with industrial and fiscal policy to encourage domestic manufacturing to catch up.
Re: Mark Cuban: fight inequality by giving all workers company stock
#13This sounds an awful lot like https://en.wikipedia.org/wiki/Company_scrip , which has been illegal for a long time and for good reason.
If the stock can be sold for legal currency it is nothing at all like company script.
Re: Mark Cuban: fight inequality by giving all workers company stock
#14good on cuban, a good start. but we're still going to need that UBI.
UBI's have been tried repeatedly and have never worked. They have a bad incentive structure and are simply unaffordable. Unfortunately if you want money you will have to get a job
I just did some brief research on this using Perplexity. I’m failing to see how partial pilots of basic income “didn’t work”, what exactly do you mean by that?
Re: Mark Cuban: fight inequality by giving all workers company stock
#15He’s promoting a way to actually implement trickle down economics. Though I would argue it would probably be better for those workers if the company stock they would be given was sold and that money was converted into a pension fund that was required to maintain a diverse investment portfolio.
Re: Mark Cuban: fight inequality by giving all workers company stock
#16He's rediscovered employee-owned co-ops but to a lesser degree.
Re: Mark Cuban: fight inequality by giving all workers company stock
#17This sounds an awful lot like https://en.wikipedia.org/wiki/Company_scrip , which has been illegal for a long time and for good reason.
Company scrip was company currency and employees were required to be paid in it and could only be used in company stores. Employee stock is getting some of your pay, voluntarily, in stock which can be sold in market. As long as company doesn't own housing or run grocery store, it isn't scrip.
Re: Mark Cuban: fight inequality by giving all workers company stock
#18good on cuban, a good start. but we're still going to need that UBI.
UBI's have been tried repeatedly and have never worked. They have a bad incentive structure and are simply unaffordable. Unfortunately if you want money you will have to get a job
Nobody can agree how big UBI should be, and people talk past each other. Small UBI, like poverty level, could replace welfare but wouldn't be enough to survive on without doing something about housing and healthcare. Big UBI would be enough for good life, like median income, but not affordable with current economy and create inflation.
There is something in between that would be enough to survive, with small UBI, universal healthcare, and guaranteed housing.
Re: Mark Cuban: fight inequality by giving all workers company stock
#19To limit inequality, cap the CEO's total compensation to 100x (or whatever) the lowest-paid workers' compensation.
Google says: "at the 100 publicly traded U.S. companies with the lowest median worker pay, this ratio (CEO to worker pay) is much higher, averaging 632 to 1.
Also: "From 1978 to 2024, inflation-adjusted CEO pay grew over 1,094%, while typical worker compensation increased by only 26%"
Re: Mark Cuban: fight inequality by giving all workers company stock
#20It would improve equity, sure, but a potentially larger impact would be that when "increasing value for shareholders" the shareholders in question are also the employees. It's a lot easier winning a fight against short-term profit taking when a significant portion of the shareholders are figuratively and literally invested in making long-term choices.