This article examines the problem of inherited controlling shares leading profitable companies to be led by 'idiot heirs.'
It points out that "...asking investors to put eternal trust in corporate royalty is antithetical to the values of Americans."
Indeed.
What the article fails to recognize is how all intergenerational wealth transfer perpetuates this problem. Rich folks pass their stock ownership and their wealth to their children who then also have disproportionate control over public companies.
Furthermore, I would say our entire model of business ownership is un-American: why does a single individual get unilateral control over the cooperation of all workers based on showing up first or buying it from the person who did?
#DemocracyAtWork #Coop #DeathTax #NationalTrustFund #BabyBonds

https://finance.yahoo.com/news/idiot-heir-brings-down-entire-140000978.html

‘Baby bond’ legislation aims to address wealth gaps in Washington state - Washington state treasurer Mike Pellicciotti. (State of Washington Photo)

Peopl... - https://www.geekwire.com/2023/baby-bond-legislation-aims-to-address-wealth-gaps-in-washington-state/ #babybonds #civic

Political clashes leave CT Baby Bonds program in limbo
Author: Katy Golvala and Ginny Monk

https://ctmirror.org/2023/01/01/ct-baby-bonds-money-ned-lamont-shawn-wooden/

#Investigations #babybonds #CTMirrorMobileApp #featurestory #InitialInvestigation #NedLamont #PaulMounds #ShawnWooden #topstory

#CTMirror -
How political clashes have left CT's baby bonds program in limbo: The state passed a historic policy to address the racial wealth gap, but opposition from the governor’s office has derailed its launch

[tl;dr Political infighting within the Lamont administration apparently quashed a proposed program that would have benefited poor children.]

#CT #connecticut #BabyBonds #CTPolitics

https://ctmirror.org/2023/01/01/ct-baby-bonds-money-ned-lamont-shawn-wooden/

RT @DarrickHamilton
🙏🏾 ❤️ #BabyBonds JEC! 👇🏾👇🏾👇🏾 https://twitter.com/jecdems/status/1600606557720481818