A Technical Answer to a Technical Question

An Observation: Pensions do not belong on Wall Street

The Question: What’s the alternative?

The Answer: Equity Paybacks

Discussion

As a tax attorney, I learned to see the economy through the lens of the Internal Revenue Code.

It is a uniquely comprehensive and non-polemical way of looking at our uniquely human way of being together, and apart, through transactions for exchanging money and other property, as individuals (Natural Persons: biological beings that exist, whether the law says they do, or not) and institutions (Legal Persons: legal entities that do not exist in Nature, but only in the law).

Each of these transactions is assigned a characteristic by the tax law, that either contributes to the calculation of a tax due to the government, or does to contribute to the calculation of a tax.

Knowledge of these diverse characterizations for these diverse transactions gives us a framework for understanding how the economy actually functions, physically and legally, free from ideology.

One thing we see when we look at the economy through the lens of the tax code is that the law offers a menu of choices for legally constituting and enterprise, including:

Sole proprietorship
General partnership
Limited partnership/limited liability company
General business corporation
Non-profit corporation
Unincorporated association
Trust
Financial institutions: banks, insurance; securities.

When choosing which legal form fits any given enterprise best, the primary considerations are not so much tax planning as financing: the agreements ownership and control.

           “
 what kind of world 
             do we want 
      and how 
               can we make it happen?

Simon Mair, MEND Network

THIS is the world we want

THIS is how we can make it happen

allocating Fiduciary Money through Equity Paybacks from current cash flows through Enterprise, prioritized by contract for:

Suitability of the Technology to the circumstances prevailing at the time;
Duration of the social contract between Enterprise and popular choice over time; and
Dignity in how the business does business all the time, across all six vectors of cash flow through Enterprise, including:
- Fair Trade, with suppliers;
- Fair Engagement with communities, of place and of interest;
- Fair Reckoning with the consequences, on Nature, Society and the Future;
- Fair Working, in the workplace;
- Fair Dealing, in the marketplace;
- Fair Sharing, with savers whose savings are the “raw material” form which financiers fashion capital for business.