“We need an economy that works for everyone, not just the few. When we take industries that are essential to our future and place them in the hands of the people, we ensure that they serve the public good and not corporate interests.”
– Paul Wellstone
The Problems:
- Private Monopolies: Key industries like energy, transportation, and telecommunications are heavily subsidized with tax dollars and profits are reserved for private monopolies.
- Service Inequality: Access to essential services like water, electricity, internet, and public transportation is often unequal.
- Aging Infrastructure: Outdated infrastructure hampers efficiency and economic growth.
- Failing SSA and Retirement Programs: Pensions and insurance for the vulnerable are not providing for people in the way they need.
Our Solutions:
- Democratic Ownership of Key Industries[1]: Transition heavily subsidized industries such as energy, transportation, and telecommunications to democratic ownership to ensure they are run for the public good. This could be a 50/50 ownership between the government and a union of employees or full government ownership.
- Universal Basic Services: Provide free or low-cost access to essential services like water, electricity, internet, and public transportation.
- Infrastructure Renewal: Invest in infrastructure, including developing a modern rail and bus system, along with cycling options, to enhance transportation efficiency, affordability, and environmental sustainability, while creating new job opportunities.
- Strengthen Social Protection Programs: Ensure full funding and benefits for programs like Social Security and the VA.
- Savings Programs: Create programs to help and teach Americans how to save.
Our Reasoning:
- Public Good: Democratic ownership ensures that essential services are managed in the interest of the public rather than for profit.
- Equitable Access: Providing universal basic services guarantees that all citizens have access to essential resources, reducing inequality.
- Economic Growth: Investing in infrastructure creates jobs, enhances efficiency, and supports long-term economic growth.
- Social Security: Strengthening social protection programs ensures a safety net for all citizens, promoting social stability.
How we will accomplish the task:
- Legislative Action: Pass laws to transition key industries to public ownership and fund universal basic services.
- Infrastructure Investment: Allocate government funding for infrastructure projects and modern rail development.
- Program Implementation: Develop and implement social protection and savings programs to support citizens.
Funding:
Economic Democracy and Public Services | Net increase of $1.277 trillion to $2.555 trillion in federal revenue with these policies
- Democratic Ownership of Key Industries (part or full ownership):
- Estimated Cost: $100 billion annually (for transitioning industries to public ownership).
- Estimated Revenue: $17 billion to $34 billion from owning airports, $800 billion to $1.6 trillion from the telecoms industries, $40.5 billion to $81 billion from the rail system, $550 billion to $1.1 trillion from the energy sector.
- Funding Source: Funds itself.
- Universal Basic Services:
- Estimated Cost: $150 billion annually (for essential services).
- Funding Source: Increase revenue from progressive taxation and reallocate from other service programs.
- Infrastructure Renewal:
- Estimated Cost: $200 billion annually (for modernizing infrastructure).
- Funding Source: Revenue from democratized industries.
- Strengthen Social Protection Programs:
- Estimated Cost: $100 billion annually (to fully fund and expand programs like Social Security).
- Funding Source: Revenue from democratized industries.
- Savings Programs:
- Estimated Cost: $10 billion annually (for creating and supporting savings programs).
- Funding Source: Revenue from democratized industries.
[1] Key industries that operate as natural monopolies should be democratically controlled to prevent monopoly power. This model would involve a hybrid ownership structure between the government and unionized private sector workers. Governance boards would include representatives from the government, union leaders, and community organizers, ensuring that decisions reflect a broad range of stakeholders and serve the public interest.
Farmer Labor Policy Center 