Posted on 08/16/2018 5:46:35 AM PDT by sickoflibs
Sen. Elizabeth Warren, a Democrat from Massachusetts, introduced legislation on Wednesday that intends to completely upend the idea that companies are only accountable to shareholders.
The Accountable Capitalism Act, as the measure is called, would require corporations with more than $1 billion in annual revenue to get a federal charter of corporate citizenship, which would give it fiduciary responsibilities beyond maximizing shareholder value. As noted by Vox, the senator essentially wants to require corporations to have the same responsibilities under the social contract as the average U.S. citizen.
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A host of experts, however, are taking issue with some of Warren’s underlying assumptions, including her understanding of the role of profits.
“Profits measure whether businesses are making good decisions and adding value to society,” Chris Edwards, director of tax policy studies at the Cato Institute and editor of www.DownsizingGovernment.org, told FOX Business. “If American businesses weren’t earning profits, we’d all be in big trouble and our standard of living would fall.”
(Excerpt) Read more at foxbusiness.com ...
What a Forward thinker!
Look how efficient the government is.
She hates capitalism so much, so where'd all that money come from? Besides graft, that is...
Under socialism, the government runs everything.
Under fascism, the government runs everything indirectly, by telling the companies what to do.
Does that mean that fascism is indirect socialism?
Perverse analogy question:
Is facism::socialism as republicanism::democracy?
It would never pass. But if somehow it did pass, it would be found “Unconstitutional.”
I know they’re out there but who would invest in a company that didn’t try to maximize profits and increase value for their share holders? Wouldn’t that be foolish to invest in a company that did not increase its share holders value.
Since when has Big Government anywhere in the world ever been able to bring prosperity to a country by regulating profits? IT HAS NEVER HAPPENED. Warren is just another evil Socialist who has lived off government checks all her life.
She feels very guilty about that and is trying to make amends for it by making sure that you cant get rich like she did.
Besides being a Cherokee her people have suffered from centuries of white occupation and deserve to live better than us.
She bought foreclosed homes in Texas and also made over $250,000 a year teaching at Harvard. Her husband Bruce Mann made about the same teaching law at Harvard as well.
Maybe she could start with an accountable government act. And then an accountable press reporting act.
Someone who sees problems caused by 6 billion people, that, are paid for by 300 million people.
That's the beauty of her plan.
She invents new Stakeholders who don't need to invest anything but get to tell the business how to run itself through government agencies dictates.
Her education sure has paid off.
Corporate Citizenship:
“I see you have some money. Give it to me.”
One word in the title says it all: ‘force’
The act is captioned “The American Business and Industrial Nationalization Act of 2018”
Warren, known to the world as Princess Gray Beaver, folllowed the pattern of the British Labor governments of the past thaat nationalized industries. Typically, as an american liberaal with no new thought, she looked abroad for the way forward
She invents new Stakeholders who don’t need to invest anything but get to tell the business how to run itself through government agencies dictates.
When then happens, sell.
A Charter of Corporate Citizenship sounds like an excerpt from Atlas Shrugged.
There must be a fake tipi in Venezuela she can move into.
Venezuela is proof-positive of how good socialism is.
No medicine.
No food.
No electricity.
No water.
Pretty soon, there’ll be no air.
And a whole other branch of government bureaucracy with buildings, offices, desks, computers, travel budgets, and employees to manage all this.
Boy, do these people just burn me.
Once again, a prediction I made on FR long ago is coming to pass.
Libs intend to redefine the meaning of “corporation”, giving social “stakeholders” as much or more say as those holding equity, and setting priorities that will outrank profits.
This is essentially an attempt to nationalize private businesses. Pure, straight up communism.
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