VT COMMON ASSETS TRUST FUND
(S.44)
CREATING A “PUBLIC EQUITY FIRM”
Dec. 11, 2007
G. Flomenhoft, Amos Baer, Patrick Wood
WHO OWNS WHAT?
Interest payments
EMPLOYEE STOCK OWNERSHIP
25
20
% OF EMPLOYEES
17%
15
Employee Stock Purchase Plan (ESPP)
401K
Stock bonus, deferred profit sharing, etc
Employee Stock Ownership Plan (ESOP)
10
6%
5
0
1
Private Equity Firms
Private Equity Firm Assets: $1 Trillion
“HIGHEST RETURN TO EXISTING WEALTH”
FRANCES M. LAPPE
Source-Levy Institute
CHOICES TO DEAL WITH INEQUALITY?
1. STATE SOCIALISM (COMMUNISM)
2. WELFARE CAPITALISM? ROBIN HOOD
(SCANDINAVIA)
3. COMMON ASSETS TRUSTEESHIP & FREE
ENTERPRISE
COMMON ASSETS WHAT ARE THEY?
COMMON ASSETS-NATURE
COMMON ASSETS-SOCIAL
ASSAULT ON THE COMMONS
Common Assets Trust Fund
Thomas Paine, Agrarian Justice 1797
“Men did not make the earth...it is
the value of the improvements only, and
not the earth itself, that is individual
property...Every proprietor owes to the
community a ground rent for the land
which he holds.;...from this ground
rent...I...propose to create a national fund,
out of which there shall be paid to every
person...a sum.”
DIVIDENDS
2007
$1654.00
2006
1106.96
2005
845.76
2004
919.84
2003
1107.56
2002
1540.76
2001
1850.28
2000
1963.86
1999
1769.84
1998
1540.88
1997
1296.54
1996
1130.68
1995
990.30
1994
983.90
1993
949.46
1992
915.84
1991
931.34
1990
952.63
1989
873.16
1988
826.93
1987
708.19
1986
556.26
1985
404.00
1984
331.29
1983
386.15
1982
1000.00
Alaska Model: Alaska Permanent Fund
(sub-surface minerals public property)
Alaska Model: Alaska Permanent Fund
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0.600
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Increase in GINI (inequality) 1969-2000
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
BARNES-US Sky-Trust-CAP/TRADE
Sky-trust
Rent
Loop
Capitalism 3.0: US Common Asset Trust
Capitalism 3.0
VT ASSETS-Natural
VT MINERALS-2003
Gemstones
Sand and gravel,
construction
Stone:
Crushed
Dimension
Talc, crude
Total
Rent 10%
$1,000
$21,200,000
$22,800,000
$29,000,000
Not released
$73,000,000
$7,300,000
“The meek shall inherit the earth, except for the mineral
rights.”
-J. Paul Getty
VT FORESTS
FORESTS 791,035 $39,551,750
(cordsx $50/
x 10%=
2002)
Cord =
Public
Forests
(2004)
$622,371
x10% =
$3,955,175
$62,237
VT WATER-2004
WATER
1C/GAL>100 GALS
$87,831,410
VT LAND-2004
VT LAND VALUE
RENT 1%
$14,928,311,688
$149,283,117
VT ASSETS-Social
VT Trust-US AIRWAVES
VT Trust-US AIRWAVES
VT Trust-US AIRWAVES
“They used to rob trains in the Old West.
Now we rob spectrum.”
Senator John McCain,
Chairman, Senate Commerce Committee
VT Trust-US AIRWAVES
TOTAL US SPECTRUM VALUE
US population
VT population
ratio
VT Value
10% RATE
ANNUAL RENTAL VALUE
$771,000,000,000
294,712,028
619,107
0.21%
$1,619,653,939
10%
$161,965,394
International Exchange
Goods and
$30 Trillion/yr
Services
Buying and selling $1.5-2 Trillion/day
of paper
=$500-700T/year
95% speculation in paper!
VT TRUST-US financial Speculation
Current Trading
(Annual Rates)
Volume AfterTax
Stocks
$11 trillion
Government Bonds $41.6 trillion
Corporate Bonds $22.1 trillion
Futures Contracts $100 trillion
Currency
$200 trillion
(worldwide)
Swaps
$22 trillion
Options
Not available
Total US Revenue
Vermont Revenue
Projected
Tax Rate Revenue
Volume (both sides)
$7.3 trillion
0.5%
$36.5 billion
$27.7 trillion
0.1%
$27.7 billion
$14.7 trillion
0.1%
$14.7 billion
$66.7 trillion
0.02%
$13.3 billion
$133.3 trillion
0.1%
$33.3 billion
(U.S. share = 25%)
$14.7 trillion
0.02%
$2.9 billion
NA
0.01%
NA
(.25% RATE)
$128.4 billion
x .21%
$268,891,964
Source:
Taxing Financial Speculation: Shifting the Tax Burden From Wages to Wagers
by Dean Baker. February 2000. Ctre for Economic & Policy Research
WHO CREATES MONEY?
(SEIGNORAGE)
GOVT
$600 BILLION 7%
(CURRENCY)
BANKS
(LOANS)
$8 TRILLION 93%
TOTAL
$8.6
TRILLION
100%
FRACTIONAL RESERVE ~3-5%
How the Federal reserve system creates a private
banking monopoly cartel!
PRIVATE BANKING
SYSTEM
LOANS
$20,000
$20,000
ASSETS
PLUS INTEREST!
FED RESERVE BANK
$1000
(5% OF $20,000
“on reserve”)
INTEREST
$1000 DEPOSIT
VT MONEY CREATION
VT BANKS
(LOANS)
$3,574,450,000
1% RATE
$35,744,500
VT Carbon Emissions
2006 est 6.5 Million metric tons x $30/ton = $195 million
(10,172 metric tons from power plants)
Source: Data, EIA, State Energy Data System
12-12-07
CCX: $2.10 (voluntary offsets)
ECX: €22.52 = $33.08 (mandatory)
VT INTERNET ACCESS
Created by Public financing through DARPA.
Public deserves a return on their investment:
Share of access, not commerce:
WEB SERVERS
AND EMAIL
ACCOUNTS?
???????????????
VT Common Assets Trust Fund
VT Common Assets TOTAL
MINERALS-10%
PUBLIC FORESTS
WATER -1c/gallon)
LAND-1%
SPECTRUM-10%
SPECULATION-.25%
MONEY-1%
CO2
INTERNET ?
TOTAL
Vermont pop 2006 est
Dividend each
$7,300,000
$62,237
$87,831,410
$149,283,117
$161,965,394
$268,891,964
$35,744,500
$195,000,000
???????????
$906,078,622
623,908
$1,452.26
COMMON ASSET DIVIDENDS