Reply to TJM, On Party Program

I saw the $200 million wealth cap in the 1996 original Party Program, I believe, however this document and this demand does not show up on the wsws.org website. Instead, I found this in the latest program: “93. All privately owned industrial, manufacturing and information technology corporations valued at $10…

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I saw the $200 million wealth cap in the 1996 original Party Program, I believe, however this document and this demand does not show up on the wsws.org website. Instead, I found this in the latest program:

“93. All privately owned industrial, manufacturing and information technology corporations valued at $10 billion or more must be transformed into publicly owned enterprises, with full compensation for small shareholders and guarantees for all pension and health care fund investments. Industries critical to the basic functioning of society—including telecommunications, agriculture, education, health care and transportation—must also be subject to public ownership and democratic control.“

It seems that under this program, billionaires will continue to exist and no wealth tax or wealth cap remains in the program. $10 billion seems to be the only limitation placed on large fortunes, but they place this limitation only on entities, corporations specifically, not individuals or other entities, which means they allow wealth to concentrate in a few hands, even to the tune of 10s of billions of dollars.

“94. This does not mean the nationalization of everything. Small and medium-sized businesses, which employ millions of workers, are themselves in desperate need of reliable sources of credit and relief from the unfair monopolistic practices of the large corporations.“

Medium sized businesses can have $1 billion in annual revenue, which means they could possibly own $10 or 20 billion in assets and employ up to 499 employees. These businesses would constitute a threat to a socialist economy, similar to allowing plantations to continue to own slaves as long as they are fewer than 500 per plantation. The failure of the Left Opposition to break the Soviet Union from the New Economic Program allowed Stalinism to base its power, in part, on the petty-bourgoisie and large estate owning peasants benefiting from such policies to offset worker power. However, more concisely, the wage-slavery system must come to a complete end. Wage-slavery anywhere is a threat to worker power everywhere.

“100. Immediate measures must be taken to promote social equality and a radical redistribution of wealth, including a progressive income tax that places the burden of taxation on the rich, while lowering taxes for the vast majority of the population. Taxes on the profits of all major corporations must also be sharply increased.“

No wealth tax and no wealth cap. This seems no different from the proposals of Ilhan Omar and Alexandra Ocasio-Cortez. Progressive Income Taxes do constitute wealth distribution but income redistribution, exponentially reducing in scale the socialist economy, while leaving large sums in private hands to allow for continued exploitation and the organization of a counter-revolution.

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Reply to TJM, On Party Program

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Reply to TJM, On Party Program

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