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Sounds a bit like the German works council system [1] that gives workers some representation in management.

While it might be considered communist / socialist; I'd be interested in a tax policy that encouraged companies to ~X% worker owned.

That could be encouraged trough mutualization programs.

Which was made explicitly illegal by US labor law in the face of rising union power to prevent workers from having this kind of say.

Wow - under what legislation?

Taft-Hartley