I don't think I understand exactly what you're describing here - so you would allow anything the current US allows, just with a different legal framework? If you swap out a corporate construct for a collective but based on cult of personality for say Twitter, does that actually change much? I.e. our political system in the US isn't capitalist, but we still end up with people who have more power due to seniority, "barter", and popularity. It seems like you could change who ends up the oligarch, but not the existence of them.

How do you have common ownership of natural resources and private ownership of land? Also, I get that you find current labor practices exploitative, but at least some of them are actually illegal, we just have difficulty enforcing them because of cost of legal actions and burden of proof issues. I don't trust that worker collectives would actually prevent wage theft - given politics and the ability to apparently convince people to vote against their own interests. More directly, union drives also show this isn't obviously going to go in a worker improvement way.

And slavery is currently illegal - you do have to be paid for your labor. The problem is how you value that labor? If it's a market economy, various labor is just going to be valued higher than other labor, and you basically have the problem I think you're pointing to with capitalism (because to me market economies are capitalism).

I also think you and I may disagree about what's actually happening theoretically in the current system with employees. At least to me, it's entirely consistent with practice and with the theories I'm familiar with in capitalism. An employee agrees to sell their output to an employer for a given rate. Both parties can put whatever contracts around that they like, and absent contracts, either can stop that arrangement at any time, either via renegotiation or ending the relationship. If you strip all contracts then do you envision a day laborer sort of arrangement? Everyone is an independent contractor so it's like a "virtual company" now? Like, practically - how do you envision this works?

I think there's all sorts of interesting stuff to discuss outside of whether a system is capitalism or not in your limited proposal here. However, I don't actually know what you want to get rid of from the current US capitalist system, so I can't really say more. I don't see a lot of value in just changing labels and nothing else however.