I certainly never expected a bill this perfect aligned to Socialism to be put forth in my lifetime but MA Senator, Elizabeth Warren, has authored the "Accountable Capitalism Act" which would create the Office of US Corporations. I'll let you read the fine print on the proposal but essentially any company with $1B+ revenue (clearly an arbitrary number that can be moved anytime) would have to register with this Office of US Corporations to be overseen by the government. This Office's job would be to decide if each of our $1B+ companies, and the USA has 2/3 or the world's $1B+ companies, are considering "the interests of all corporate stakholders" and not just shareholders. This means that a new govt office should decide if a company is doing the right things for the community, customers, and employees. It is assumed under this ambiguous term that it means policing diversity hiring, racial justice, the environment, and anything else that The Office deems worthy of inspection. The bill goes a step further adding restrictions on executive compensation and deciding how a board of directors is chosen and potentially giving the govt the right to decide product pricing or anything else they deem as being "the interests of corporate stakeholders". (and notice how she uses stakeholders as the new term which is just a few letters away from the capitalist system of managing business in the best interest of SHAREHOLDERS?)
In effect this bill would nationalize our largest and most efficiently run companies and allow the federal government to pick the winners and loses while also keeping large privately held companies from going public. It would then be the government deciding how a company should be run and when you give them that power you are Socialists.
Warren cites "stagnant wages" are the need for such an insanely radical left policy yet the average American's income is at an all-time high and unemployment at a near all-time low.
Economists estimate this bill would devalue large public corporations by as much as 25% thereby destroying your personal retirement savings and potentially crashing the stock market. Obviously Warren is not an economist ... her undergrad was in speech pathology before she went to law school and then taught law at the university level.
In effect this bill would nationalize our largest and most efficiently run companies and allow the federal government to pick the winners and loses while also keeping large privately held companies from going public. It would then be the government deciding how a company should be run and when you give them that power you are Socialists.
Warren cites "stagnant wages" are the need for such an insanely radical left policy yet the average American's income is at an all-time high and unemployment at a near all-time low.
Economists estimate this bill would devalue large public corporations by as much as 25% thereby destroying your personal retirement savings and potentially crashing the stock market. Obviously Warren is not an economist ... her undergrad was in speech pathology before she went to law school and then taught law at the university level.
