Max (et at)
The whole purpose of the Swedish investment funds was that
worker profits would go to buy corporate shares that would
ultimately lead to -- ulp! -- worker ownership. This was sufficiently
upsetting to lead to a corporate (class) uprising to squelch any and
all moves to democratic ownership.
Paul Phillips
From: "Max Sawicky" <[EMAIL PROTECTED]>
To: "[EMAIL PROTECTED]" <pen-
[EMAIL PROTECTED]>,
<[EMAIL PROTECTED]>
Subject: [PEN-L:7724] RE: The Economic Policy World
Turned Topsy-Turvy
Date sent: Fri, 2 Feb 2001 21:43:13 -0500
Send reply to: [EMAIL PROTECTED]
> JBDL:
> " . . . If the government continues to run the surpluses the flood of
> revenue from current tax laws looks likely to produce when there is no more
> debt, the government will have to invest its surplus cash somewhere. The
> only logical place is in the U.S. private sector: the U.S. government will
> start buying up the bonds and shares of U.S. companies. This Alan Greenspan
> fears: he doesn't think that the U.S. government would be a very good
> shareholder of private enterprises. And Alan Greenspan is right. There is
> no reason to think that the U.S. government would be very good as an
> investor in private enterprises."
>
> Given the mainstream view of Social Security projections
> and your endorsement of AG, bursting chest and all, how
> is the Gov supposed to pre-fund Soc Sec against the period
> when the Fund runs a deficit? If it is barred from pre-
> funding, are we to wait until those deficits appear
> abstracting from some nominal cushion in the Fund, and
> then just start adjusting tax rates
> up and benefits down to close the gap?
>
> mbs
>
