Newark, N.J., Nov. 4, 2015 /PRNewswire/ -- If you want to see the one fresh economic growth idea that has finally jelled in American society and that cuts across party lines with the potential to create a large middle-class majority, then read on.
A new book, THE 3rd WAY: Building "Inclusive Capitalism" through Employee Ownership presents a major idea that will renew The American Dream and make more wealth available to more citizens by encouraging broad-based employee stock-ownership in small businesses and large corporations.
"By further enhancing the tax incentives for corporations to share equity with their employees, the nation will see an overall better performance by corporations, a more secure and motivated workforce, countless benefits to society, a stronger economy, and potentially more tax revenue," says Republican co-author Veny W. Musum.
Democrat co-author Upendra Chivukula says: "Like massive tectonic plates, the two most fundamental forces of labor and capital are moving away from each other with catastrophic consequences. But it's not too late to act."
Some 15 million fortunate employees already participate in employee-owned companies, impacting over 10,000 companies with combined assets that exceed one trillion dollars. But this only represents a little over 10% of the workforce. THE 3rd WAY lobbies for a revolution and calls for the greatest economic reform this country has ever undergone. It wants the nation to adopt the ESOP (Employee Stock Ownership Plan) model as the standard way of doing business.
The book is authored by a long-standing activist Republican, Musum, who is a New Jersey businessman. He is joined by a respected Democratic leader, Chivukula, the well-liked, brainy, policy-oriented Deputy Speaker of the New Jersey Assembly. The political officeholder capable of across-the-aisle dialogue and policy discussion when it's designed to benefit the middle class.
The authors propose critical tax incentives for closely held companies and large stock market corporations to set up and fund employee stock ownership plans. They want the tax incentives expanded in both urban and rural Enterprise Zones to reset American policies on poverty to be oriented toward capital ownership rather than just transfer payments. They want to give strong incentives for banks and insurance companies and other financial institutions to loan funds to ESOPs that want to purchase corporate stock.
"The time to act is now," say the authors.
For more information, visit www.the3rdwaybook.com.
Contact: Brian Feinblum Media Connect 212-583-2718 firstname.lastname@example.org
SOURCE Veny W. Musum, Upendra Chivukula