Shared ownership is something that we have always aspired to as a nation.
February 2, 2017
“After America won its independence from Britain, there was plenty of hard work yet to do. That included rebuilding the nation’s cod fishing fleet, which had been decimated during the war. President Washington charged his Secretary of State Thomas Jefferson with coming up with a plan to help jump-start the industry’s recovery. The answer Jefferson arrived at centered on what was essentially a federal tax credit where ship-owners and sailors would receive a payment to reduce the tariffs they had been paying to conduct cod fishing. That would help boost their profitability and create incentives for more ships to be built. But there was a catch, if you will: only those ship-owners who embraced a profit-sharing plan that included the entire crew of the ship would be eligible for this new business tax incentive.” — excerpt from February 1, 2017 post on Forbes.com for the full article click here