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senate Bill S. 1666

Should the Federal Gov’t Fund Programs Promoting Employee Ownership?

Argument in favor

At a time of wage stagnation, employee ownership in companies is a way to help workers become more financially stable and build more wealth. Employee-owned companies are stronger, more likely to treat their workers well and less likely to outsource jobs overseas.

jimK's Opinion
···
08/11/2019
I like it. Employee ownership relies upon and rewards everyone working together to define company objectives and deliver outstandingly beneficial and competitive products and/or services. It is the kind of capitalism that built this country, not the crony-capitalism often practiced today. Success depended upon delivering useful and affordable products or services and not upon ‘stacking the deck’ by purchasing political favor. Everyone pulling together is always more effective than relying on a few strongmen with connections who are directing traffic. Also, it lets employees see and participate in the struggles needed to get and keep a company in business and the ‘hard decisions’ often needed along the way- something that employees generally neither see nor appreciate.
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burrkitty's Opinion
···
08/12/2019
I approve. From 1979 to 2018, net productivity rose 69.3 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years. During these decades of wage stagnation, employee ownership in companies is a way to help workers become more financially stable and build more wealth. Employee-owned companies are stronger, more likely to treat their workers well and less likely to outsource jobs overseas. I think that’s a win win situation and should be encouraged.
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08/11/2019
Absolutely. I would like to see union-minded employees just build companies that are 100% employee owned and compete against the corrupt corporations. With this model, there is no need for unions, because the company is “The People”. Once you remove the “Make profits at all costs” greed of typical corporations, you will have a company that actually cares for its people, strives to offer quality and hospitable services and the Customers will receive a higher quality service and product. Everyone wins.
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Argument opposed

The literature on employee-owned companies’ performance is mixed; so it’s hard to sure that employee ownership is the best thing to promote from a business perspective. Additionally, given that many Americans already have ownership in their companies through stocks, pensions and other plans, it’s not clear how necessary this bill is.

Gopin2020's Opinion
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08/11/2019
I oppose anything that is proposed by Comrade Communist Sanders. He is a confirmed anti capitalist who would nationalize all free enterprise. #MAGA
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JTJ's Opinion
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08/12/2019
This is not an appropriate function of government. Stop wasting our money on stupid stuff.
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Cherie65's Opinion
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08/12/2019
BERNIE! Stop spending our money. You've got millions, you first! People, democrats want your hard earned bucks. #trump2020
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Health, Education, Labor, and Pensions
    IntroducedMay 23rd, 2019
    I like it. Employee ownership relies upon and rewards everyone working together to define company objectives and deliver outstandingly beneficial and competitive products and/or services. It is the kind of capitalism that built this country, not the crony-capitalism often practiced today. Success depended upon delivering useful and affordable products or services and not upon ‘stacking the deck’ by purchasing political favor. Everyone pulling together is always more effective than relying on a few strongmen with connections who are directing traffic. Also, it lets employees see and participate in the struggles needed to get and keep a company in business and the ‘hard decisions’ often needed along the way- something that employees generally neither see nor appreciate.
    Like (87)
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    I oppose anything that is proposed by Comrade Communist Sanders. He is a confirmed anti capitalist who would nationalize all free enterprise. #MAGA
    Like (33)
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    I approve. From 1979 to 2018, net productivity rose 69.3 percent, while the hourly pay of typical workers essentially stagnated—increasing only 11.6 percent over 39 years (after adjusting for inflation). This means that although Americans are working more productively than ever, the fruits of their labors have primarily accrued to those at the top and to corporate profits, especially in recent years. During these decades of wage stagnation, employee ownership in companies is a way to help workers become more financially stable and build more wealth. Employee-owned companies are stronger, more likely to treat their workers well and less likely to outsource jobs overseas. I think that’s a win win situation and should be encouraged.
    Like (45)
    Follow
    Share
    Absolutely. I would like to see union-minded employees just build companies that are 100% employee owned and compete against the corrupt corporations. With this model, there is no need for unions, because the company is “The People”. Once you remove the “Make profits at all costs” greed of typical corporations, you will have a company that actually cares for its people, strives to offer quality and hospitable services and the Customers will receive a higher quality service and product. Everyone wins.
    Like (34)
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    When business or corporate owners close down companies they damage the communities their operations support. If the company is manufacturing something that can no longer be marketed because there is no longer demand for the product, business closure may be appropriate. However, there are many instances in which the closure of the business or factory would be unnecessary if the employees of the company could find a way to purchase the company collectively and maintain its production, the incomes and the community support the company’s income provides. In some cases, this can provide a transitional base for the community to reinvent itself based on another local economic base. This should be encouraged at the national level. This is the foundation of the cooperative movement which offers an alternative to corporate structures in producing goods for the market. Such alternative forms of business structure are well known and extremely effective, e.g.The Mondragón Corporation of Spain: https://en.wikipedia.org/wiki/Mondragon_Corporation
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    This is not an appropriate function of government. Stop wasting our money on stupid stuff.
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    I agree 100% with jimK with regards to the below statement. I like it. Employee ownership relies upon and rewards everyone working together to define company objectives and deliver outstandingly beneficial and competitive products and/or services. It is the kind of capitalism that built this country, not the crony-capitalism often practiced today. Success depended upon delivering useful and affordable products or services and not upon ‘stacking the deck’ by purchasing political favor. Everyone pulling together is always more effective than relying on a few strongmen with connections who are directing traffic. Also, it lets employees see and participate in the struggles needed to get and keep a company in business and the ‘hard decisions’ often needed along the way- something that employees generally neither see nor appreciate.
    Like (15)
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    At a time of wage stagnation, employee ownership in companies is a way to help workers become more financially stable and build more wealth. Employee-owned companies are stronger, more likely to treat their workers well and less likely to outsource jobs overseas.
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    BERNIE! Stop spending our money. You've got millions, you first! People, democrats want your hard earned bucks. #trump2020
    Like (12)
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    👎🏻S-1666 AKA the Worker Ownership, Readiness, & hitch Knowledge (WORK) Act 👎🏻 I’m opposed to the Senate Bill. S-1666 AKA the Worker Ownership, Readiness, and hitch Knowledge (WORK) Act which would create an Employee Ownership and Participation Initiative within the Dept. of Labor’s Employment and Training Administration (ETA). It would authorize ETA to award grants to employee ownership and participation programs throughout the country for: 1) education and outreach; 2) participation training; 3) technical assistance, including prefeasibility studies, and support for the carrying out of third party feasibility studies and preliminary business valuations and 4) activities facilitating cooperation amongst employee ownership firms.  The literature on employee-owned companies’ performance is mixed; so it’s hard to sure that employee ownership is the best thing to promote from a business perspective. Additionally, given that many Americans already have ownership in their companies through stocks, pensions and other plans, it’s not clear how necessary this bill is. SneakyPete.......... 👎🏻👎🏻👎🏻👎🏻👎🏻👎🏻👎🏻👎🏻👎🏻. 8.11.19..........
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    That is one way for employees to benefit from the profits their company makes.
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    VOTE NO on WORK act, S. 1666. This is another encroachment by the Federal Gov’t into an area that the Constitution does not authorize. You are to PROMOTE, not provide for the general welfare. STOP BANKRUPTING MY COUNTRY!
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    I do not see this as Federal business.
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    There are already programs like this available, just another way to hand out tax payers money to someone else!!
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    Employee-owned companies are likely to be more successful then a typical business. This is because all the employees in a business will have a say in how the business is run instead of just a few people at the very top. Also, the pay discrepancy between the people at the top and least-paid employee will be a lot less. This absolutely the kind of business structure that should be encouraged!
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    Fiscal responsibility comes first! Stop spending!!
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    Government needs to stay out of areas they have no business in and this is another one of those areas. We ARE NOT a socialist nation and I don’t want to move any closer to socialism. Those in government need to read and understand our constitution and bill of rights as well as the federalist papers in order to get them back on track. There are far too many socialist ideas infested within our government and they need to be removed!
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    I’m all for a free society in which employees can start their own workers cooperatives, but government beaurcracy at the hands of taxpayers to support them, or any business for the matter, is wasteful spending.
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    Fail to see the necessity for this. Employees already have ownership in companies via stock, pensions and other plans.
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    No. Again government intruding into the private sector. Yes, the argument is correct that employee ownership in companies is a stable way to build more wealth. Some companies know this and will move towards this idea. But the government cannot control doing the operations. Government rules will always be in the realm of affirmative action which always results in the highering of below qualified people in order to please a government rule. Promotions should always go to the one who qualifies the best, and not fill a government quota.
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