by James S. Albus
Peoples' Capitalism is a plan to make every adult U.S. citizen a capitalist. The plan has five parts:
- A National Mutual Fund would be established to invest in private industry
- These investments would be financed by loans from the Federal Reserve Bank
- Every adult U.S. citizen would be given a share of the National Mutual Fund
- Profits from National Mutual Fund investments would be distributed as dividends to the share holders. Everyone would receive dividends
- In order to control inflation and finance part of the National Mutual Fund, savings would be levied as a surcharge on income taxes. These savings would pay interest and be guaranteed by the government
America is a capitalist country, but most of its people are not capitalists. A capitalist is someone who receives most of their income from ownership of capital stock. By that definition, less than five percent of Americans are capitalists.
Peoples' Capitalism would make every American a capitalist. Every citizen would own a share of the means of production. Everyone would receive dividends based on profits earned on investment. Within two decades, National Mutual Fund dividends could provide a livable income for all.