That is why a new capitalism must also include a tax system that generates the resources we need and includes higher taxes on the wealthiest among us. Local efforts – like the tax I supported last year on San Francisco’s largest companies to address our city’s urgent homelessness crisis – will help. Nationally, increasing taxes on high-income individuals like myself would help generate the trillions of dollars that we desperately need to improve education and health care and fight climate change.
The culture of corporate America needs to change, and it shouldn’t take an act of Congress to do it. Every C.E.O. and every company must recognize that their responsibilities do not stop at the edge of the corporate campus. When we finally start focusing on stakeholder value as well as shareholder value, our companies will be more successful, our communities will be more equal, our societies will be more just and our planet will be healthier.
Hearing this from a tech leader is heartening. This makes me all the gladder that Salesforce Ventures invested in us. Let low-road capitalism be done. Build instead a higher road of equity literate capitalism attuned to all stakeholders.