Comments by "" (@jmitterii2) on "Solution For Capitalism's Brutalities Easier Than You Think w/Prof. Richard Wolff" video.

Co-Op based system backed by a co-op Federal Reserve Banking system with access to the treasury to lend at a discount money into existence as does the Fed Reserve does for private banks today, so far is the only idea I know that would work brilliantly to change our economy for the better, and literally makes aristocracy utterly unnecessary. Solves the capital formation problem. And you would no longer see the extraction by aristocracy from the wealth we see today and in the past. It's as revolutionary as ending slavery and feudalism. Next advancement from our aristocratic employer and employee system. And I can imagine many methods to assist in such a Co-Op Fed Reserve to create branches and even individual co-op banks to audit and determine various businesses and business plans so such lending has high chance of successful outcome of a sustainable profitable co-op. If anyone has peaked at any business that is profitable today, if you add in all workers compensation including payroll taxes, insurances, etc. into profits (because workers on income statements are an expense deducted to calculate net profits just as capital expenses are as well as interest on any bank loans or bonds), you will find 95% to 80% of profits goes to dividends... workers get 5% to 20% of profits. Mere doubling of every worker's compensation would be life changing and such businesses would still retain 90% to 60% of the profits. The amount that goes to the aristocracy is beyond disgusting, it's flat out absurd. Quite literally demonstrates it's not a return on investment, but extraction parasitically on other's work. Hence why productivity has gone up over the past 40 years, but wages are flat if not fallen in some nations, and almost all wealthy nations have experienced real median wages decrease.
1
A Co-Op Federal Reserve Bank with similar and more authority to lend directly to borrowers as does the current Federal Reserve Bank with access to the Treasury to lend into existence money at a discount... this time cut the banking system middle man on B2B lending. Capital formation can come the same way it comes from with private banks today. Then you can get Co-Op more easily getting into anything with higher capital investment requirements than retail that it stagnates in today. Even manufacturing often requires at least $50 to $100 million for a decent start up that has a high chance of success. Mining and refining, and technological companies often require as much if not higher amounts of initial funding. Establishing a Co-Op Federal Reserve Bank would revolutionize business, by eliminating the absolute necessity to find banks or investors. And changes the worker employer relationship... all workers are voting employers themselves. When the business becomes profitable... currently 95% to 80% of all profits if you re-add all employer compensations including insurance, salary, retirement/payroll taxes. You probably wouldn't see keeping a hold of surplus going to stock buy backs or dividends like they do today... seriously, such companies would be able to double EVERYONE's compensation and walk away with 90% to 60% of profits. Still plenty to either pad cash flow or even unexpected capital expenditures for more rapid growth. Either way, what we have today is absurd. Workers quite literally get screwed in profitable companies as they pay out mostly dividends, stock buy backs, and giant interest from banks and bond holders. Aristocracy literally hog the income on the wealth... because they own all these instruments, these keys to the wealth. Anyway this is the only practical method I know of to reform the way we do business.
1