By: Marcus Perriello | Our Voice Contributor
Wait, WHAT?! … That’s right. Trillions of dollars flowing through Wall Street – nearly half of which comes out of taxes paid by the American people, only to end up in the bank accounts of so few wealthy elites. They work feverishly to game the system and avoid paying taxes at all costs. These elites would never be able to achieve their current levels of wealth and power if not for the dirty, underhanded thieving of U.S. taxpayer money.
They’ve had endless opportunities to prove their claims that private industry and wealthy business titans could govern a country better than any elected government could; and at each and every turn, they’ve shown their true colors as they used their successful sales pitches to con the American public and fleece them out of everything they possibly could.
Through well-thought-out and meticulously executed power grabs, America’s Owner Class slowly seized the reins of power by using their economic positions to direct funding efforts towards Right-Wing causes that if successful, would ultimately lead to a thorough and complete rigging of the nation’s economic and political apparatus.
Whether it was their ownership of the media outlets, or selling their political potential as successful businessmen, Americans were sold on this narrative for decades and elites seized on this blind loyalty to remake America in their own image. Workers lost their bargaining power as time went on. Business leaders kept getting elected to public office where they, along with their Wall Street lawyers and lobbyists, seamlessly passed legislation that took the power of Democracy out of the hands of the people and put it into their own. Because of Wall Street’s greed and ruthlessness, Democracy and America’s constitutional rights are now on life support.
Knowing all this, there is a way to make justice prevail and set things straight: The complete socialization of Wall Street. Take the entire stock market out of private hands and use the stock dividends to fund the public programs we desperately need. We’re already funding Wall Street like it’s second nature, except the benefits are all going to the 1%.
The only way this can make sense is if the entire stock market is socialized. If the American people’s tax dollars are already funding this greed machine, it’s only fitting that the American people be the beneficiaries of the dividends produced. When a company “goes public,” it’s meant to allow for anyone who wishes to to invest their own money into that company’s stocks.
The reality is that because so few people actually play the stock market, only that select few end up financially secure in the end – and all off of the backs of hard-working people whom these investors are robbing at every turn. By fully socializing the stock market, we can fund the necessary programs we need either with minimal tax increases, or possibly not needing to raise taxes at all. Talk about a sweet deal!
Medicare For All. UBI. Tuition-Free College. Rent & Mortgage Control. Laws being passed on the people’s terms rather than a few greedy and ruthless Capitalists. All these are foregone conclusions when you see the practical implications of a fully socialized stock market. Naturally, there would be a ferocious fight ahead from all who thrive off the rigging of the current system; but it is because of these people that we are in the situation we find ourselves in, today.
This would be taking away that which they covet above all else and it’s only right because they’ve continuously abused their wealth and power without having to worry about the consequences, while the rest of society has had to watch their own lives fall to pieces due to the decisions made on Wall Street. Yes, this would be punishment for the 1%. It would simultaneously be reparations for the American people for decades of methodical systemic dismantling of their prospects, their rights, their freedom and liberty, indeed their very lives.
This can all be done in a single legislative vote. There are nowhere near the amount of representatives needed to pass a legislation of this magnitude, but that’s beside the point of this article. This is about executing both an economic and cultural shift that would benefit the entire public without having to piecemeal the overall problem, issue by issue, which as we’re seeing play out in real time, could take generations to accomplish. In one fell swoop, the entire economic and political paradigm would flip.
Billionaires and corporations would be fully accountable to the people, as would by extension, the politicians. Establishment politicians love taking Wall Street money. Well, who do you think they would be answering to if Wall Street were fully socialized? That’s right: The American people. That Wall Street money would be our money, so the politicians and business leaders would have to serve the best interests of the public if they wanted to keep their positions intact.
Democracy would be returned to the people, as it should be. We, the People would be calling the shots in Washington. We, the People would see the fruits of our labor instead of a greedy elite class hijacking it for their own. In my view, there is literally no downside to this. Socializing Wall Street is the simplest, and quickest way to restore the power of this country to the American people and I honestly believe this is a cause that the 99% can really get behind and fight for.