Own or be Owned ... Every Citizen an Owner!
Something is seriously wrong with our economy. Most of us are making less pay and paying higher prices. More individuals and families are falling into poverty, dependent on taxpayers to pay for their basic needs like food, housing, and healthcare. Meanwhile, our government is dragging us, our children and grandchildren deeper into debt.
Then there's the wealth and income gap. The top 1% owns more wealth than the bottom 90% combined, getting incomes from capital in the form of new technologies, land and rentable space, and corporate shares. The rest of us in the 99% depend on jobs (if we have jobs) that can be outsourced to other countries or replaced by technology.
Why do we keep going in the wrong direction, and what can we do to change course? It is time we demand a system that provides equal opportunity for every citizen to gain economic freedom, economic power and economic justice. What we need right now is the economic equivalent of the Declaration of Independence - a "Declaration of Monetary Justice."
The attached Declaration is a call to action that targets the core challenge in our economy: The system needs to grow and produce more, and people need more income to purchase and consume what is produced. The question is, how will we finance that new production so incomes flow to more people to buy it? Where will the money come from?
First, the Declaration states, stop poisoning the economy with government debt-backed money, and stop depending on taxpayer dollars or the money of the 1% to grow the economy. Instead, create new asset-backed money and interest-free credit in ways that every man, woman and child could acquire direct ownership of the income-producing assets added every year to the economy. Our most powerful economic institution, the Federal Reserve System, could be reformed to serve all citizens, grow a healthy economy, and enable have-nots to become haves - without turning haves into have-nots.
In fact, the Fed already has the power under existing law - the Federal Reserve Act (Section 13, paragraph 2) - to create new money to grow private-sector capital and create new private-sector jobs and ownership opportunities.
We can start with what already exists in the law, and take it to the next step. That's why we want to get legislators at the local, state and national level to adopt this Declaration. It wouldn't cost a penny. But it would force the Federal Reserve to exercise its existing powers. It would signal Congress and the President to pass the same tax provisions for every man, woman and child as already provided to private-sector companies and workers through employee stock ownership plans (ESOPs). It would be the first crucial step toward enacting comprehensive legislation - the Capital Homestead Act - to enable every citizen to become a capital owner.
To support the Declaration of Monetary Justice, sign your name. Share this link and get others to sign theirs. Then urge your political representatives at all levels to adopt the Declaration of Monetary Justice.