Letter: ‘People’s capitalism’ at work
On Aug. 9, the Roaring Fork Transportation Authority (RFTA) board meets.
It schedules a two-part public hearing for a new mill levy to finance an issuance of municipal bonds (muni bonds) and the resolution to place it on this November’s ballot.
I encourage RFTA Vice Chair Jeanne McQueeney, the Eagle County Commissioner, to successfully champion New York Governor Nelson A. Rockefeller’s “people’s capitalism” concerning issuing government bonds. (“Unity, Freedom & Peace: A Blueprint for Tomorrow” (1968) by Nelson A. Rockefeller) (1) (2)
I spoke about his broad-based wealth building idea at a Colorado General Assembly Senate Finance Committee hearing and at RFTA and other government meetings in the Roaring Fork Valley.
Rockefeller’s “people’s capitalism” is about government debentures in small denomination issuances such as once issued U.S. Postal Bonds and U.S. Postal Service Savings Bonds with various denominations and maturity dates and still now by U.S. Savings Bonds. (3)
The simultaneous RFTA issuance of both traditional muni debentures and new small denomination muni bonds would open up long term wealth building chances to the common man, woman and family at a simple, low risk starting price below the usual $5,000 minimum and $5,000 multiples.
This will spread the wealth around to be shared by more people for the long run.
Let’s put Rockefeller’s “people’s capitalism” to work for the good of ordinary people and the ridership.
(www.biography.yourdictionary.com/nelson-rockefeller, http://www.rockarch.org/publications/bibliofamily.php, http://www.treasurydirect.gov/indiv/research/history_sb.pdf)
Emzy Veazy III