IT BEGINS: Elizabeth Warren Introduces ‘ACCOUNTABLE CAPITALISM ACT’

Posted by mminnick 5 years, 9 months ago to Politics
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From the Post:
"Firebrand Senator Elizabeth Warren introduced new legislation this week; unveiling her ‘Accountable Capitalism Act’ that seeks to make the nation’s largest companies “more accountable” to local communities than “shareholders.”
Warren revealed her potential 2020 campaign promise in an op-ed published by the Wall Street Journal, where the left-wing legislator slammed the country’s biggest corporations for not treating their employees as “priorities.”
"That shift has had a tremendous effect on the economy," she wrote. "In the early 1980s, large American companies sent less than half their earnings to shareholders, spending the rest on their employees and other priorities."
"But between 2007 and 2016, large American companies dedicated 93% of their earnings to shareholders," Warren added..."

A couple of points that I don't think need stating but I'm going to anyway.
1. The dates she specifies were the last year of Bush 43 and all of Obama.
2. Share Holders put their money at risk in order to make money. Employees agree to work for a specific wage package with or without bonus. pSmart companies give good wage packages]
3. Communities receive taxes from companies and its employees in return for services rendered.
The three involved actors (Company, workers and community) all receive benefit from this arrangement. All are free to cancel the arrangement at any time. Forcing one component to do more than it's fair share cause the whole system to breakdown.
Yes I know there have been and some remain abuses of the system by companies, the workers and the communities. In these cases all suffer and eventually pass away, even the communities'.


All Comments

  • Posted by Owlsrayne 5 years, 9 months ago
    Elizabeth Warren (Pseudo-Indian) and all Progressive Leftists will be the first ones up against the wall when the revolution comes (or Civil War).
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  • Posted by $ blarman 5 years, 9 months ago in reply to this comment.
    That's because we can't have the common people "thinking". That is a privileged activity reserved for those who have been carefully indoctrinated and controlled.
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  • Posted by DeangalvinFL 5 years, 9 months ago in reply to this comment.
    Problems of Crony Capitalism I think is what you are getting at.

    A partial solution could be to only allow actual human beings to vote their shares. Passive investors or otherwise indirect ownership, ie mutual funds, would not be able to vote.

    Furthermore, for any of the top say 300 companies by Revenues, no one could serve on multiple boards of directors.
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  • Posted by CircuitGuy 5 years, 9 months ago
    I think separating liability from ownership has issues. I doubt Warren's proposal would fix it, but I think there's a legitimate problem. Public corporations do things their owners, management team, and boards would not do if the business's leadership, ownership, and personal liability were all in the same people. By separating them, retail investors buy mutual funds based on performance, and the fund managers investing companies to get that performance. They pay analysts to give them early signs of short-term earnings surprises. The corporate boards of directors focus on the short-term. The directorates are often interlocking, so they have incentives to overlook long-term mismanagement of investors' capital and unethical activities. The management team, board, analysts, fund managers, and retail investors (i.e. owners of the business) can all end up doing things they wouldn't be a part of if they owned and operated the business.

    I don't know the solution to this. Allowing investors to buy small fractions with no personal liability has huge advantages in allowing businesses to raise capital. While I'm skeptical about tinkering with business law, I don't agree at all with the indignation saying shareholders have a fundamental right to have limited liability and elect whatever board of directors they want. I'd have to learn more. Is this Warren's attempt to fix the problem or just pandering to people who don't believe in capitalism? It could be a little of both.
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  • Posted by H2ungar123 5 years, 9 months ago in reply to this comment.
    Thanks much for my enlightenment re: the real
    Pocahontas. I would add most women are better
    than Evil Lizzy.
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  • Posted by term2 5 years, 9 months ago in reply to this comment.
    Actually Pocahontas was a much better woman than Lizzy, who is an evil and hateful bitch
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  • Posted by term2 5 years, 9 months ago in reply to this comment.
    Also, today there is the impact of AI today. Computers can handle a lot of high level thinking compared to the 80’s. Robotics had exploded. The payoff of investing in AI is greater than investing in employees in more and more businesses. In addition , creativity is frowned upon and resisted by the establishment. Creativity is one of the things People excel over AI (at least now)
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  • Posted by term2 5 years, 9 months ago in reply to this comment.
    a Stupid question probably, but how would one know. Alzheimer’s in oneself, given you couldn’t remember what one was like?
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  • Posted by term2 5 years, 9 months ago in reply to this comment.
    She would never be elected as president. I hope she and Maxine baby are the democratic ticket for 2020
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  • Posted by exceller 5 years, 9 months ago
    The left is perfecting the war against America.

    This is a new slogan. It sounds good and that is what matters.

    None of the slogans the left is running with has any meaningful goals but they sound good to the socialist/communist ear. If you ask any individual on one of these rallies devoted to the "cause" you'll find they have no idea what they are demonstrating against or for.
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  • Posted by KevinSchwinkendorf 5 years, 9 months ago
    Hm - "Accountable Capitalism Act" : what's next, "Equalization of Opportunity Act"? Pocahontas needs to go back to her reservation. She said she has "High Cheekbones".
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  • Posted by NealS 5 years, 9 months ago
    I think someone should take her out before the liberal left ignoramuses start chanting for it, and the complete and total ignoramuses all jump on the bandwagon.. Or am I not allowed to say that? I only presume I can, since the "elite stars" can spew nonsense about blowing up the White House. If not, I retract and disavow my statement as complete rhetoric under the "Temporary Insanity Act". I just hope she runs for president. I can't believe there are more than 30% of the people that would take the chance, even against Trump, to actually do so. This whole scenario should be such a mute point that no one even talks about it. I dedicated 100% of the earing of my (small) business to myself and my stockholders (me). The employees that didn't like it didn't get to work there.
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  • Posted by $ Stormi 5 years, 9 months ago
    Thi woman wants to make capitalism about as real as her faux Indian heritage. Those are NOT the eye of a Indian. She wants to make companies government controlled and force them to support her liberal ideas Backdoor socialism.
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  • Posted by term2 5 years, 9 months ago in reply to this comment.
    U wouldn’t be assassinated. U would never be elected. Look at the vitriol trump has received for the little he has actually been allowed to do
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  • Posted by term2 5 years, 9 months ago
    It’s all about extracting money from the people who produce. It’s time for the producers to stop willingly being fleeced
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  • Posted by tdechaine 5 years, 9 months ago
    Heaven help us if we ever accept policies of such true Socialist politicians.
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  • Posted by $ Olduglycarl 5 years, 9 months ago
    Funny, her complaints should be leveled at herself and other humanoids like her. They are the problem; inept, corrupt and incompetent "so called" CEO's are complicit as well in their "Crony Crapitalistic" system inwhich everyone benefits except the employees, consumers and competitors.
    It is clear she has a cockeyed view of free market capitalism and thinks the system seeks a free ride on the backs of others...however, one can see here that This is not the "system" she seeks to fix...she attacks only the one that actually works.
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