Posted on 07/09/2020 2:49:19 PM PDT by Sir Napsalot
Former Vice President Joe Biden delivered an economic speech in Dunmore, Pennsylvania, on Thursday in which he unveiled his economic vision, declaring an “end to the era of shareholder capitalism.”
“It’s way past time to put the end to the era of shareholder capitalism. The idea the only responsibility a corporation has is its shareholders — that is simply not true, it’s an absolute farce. They have a responsibility to their workers, their community, to their country.”
In place of “shareholder capitalism,” Biden proposed a more inclusive system built on the power of labor unions and on “black, brown, and Native American” communities that he said had been left out of economic prosperity.
(snip)
Biden, addressing a small, socially-distant group of workers and journalists at the McGregor Industries metal works facility, said that he would raise the corporate tax rate to 28% (from 21%, where Trump lowered it in the Tax Cut and Jobs Act of 2017).
He also said that he would spend $400 billion on infrastructure projects, including “clean energy” projects, touting his experiences in the Obama administration’s Recovery Act (without mentioning high-profile “green” failures like Solyndra).
And Biden said that he would implement a policy of “Buy America,” in which the federal government would purchase pharmaceuticals and medical supplies exclusively from domestic suppliers.
(Excerpt) Read more at breitbart.com ...
“Our side should hammer Biden as wanting to end capitalism and take away people’s private property and homes and move them into communist ghettos.
(I realize that is not exactly what Biden has been coached to say but if the positions were reversed that is exactly how we would be attacked)”
WHO GIVES A RAT’S A**! Our side should hammer Biden for SOMETHING, already.
Well, where would the far left go? It is not as if they will turn around and vote Trump.
Well, this will make the stock market soar in value! The irony is that many cheering this on are state and local government workers who don’t realize their pension plans have their assets...where? The stock market.
How Biden would implement this would be fascinating. Laws would have to be introduced and passed, giving plenty of time for a selloff of epic proportions—it would make the Wuhan, I’m sorry, the European virus sell off earlier this year look like a walk in the park.
Like Venezuela, this economic activity would be called sabotage and measure would be taken to go after the ‘wreckers’.
Biden is being controlled by Barack Obama. If he wins it will be Obama’s third term.
WE need to make that plain to the voters.
6 months ago this woulda got a president candidate laughed out of the race. Now he’ll probably win. I don’t think people are really understanding how fast the entire culture has shifted cause it’s been so fast.
Biden is being controlled by Barack Obama. If he wins it will be Obama’s third term.
WE need to make that plain to the voters.
They wont just confiscate it, that too blatant even for them. They will do this though, it goes something like this.
If you want the benefit of tax deferral, then a portion of your IRA or 401K will have to be invested in government securities. Bonds or T-bills. Shitty return compared to the market, and it turns your asset into a government backed promise, just like social Security. Either way your IRA or 401k gets turned into something they will spend this year. It’s how Clinton got a budget surplus when he converted IRA’s from normal to Roth’s. He took 30 years of IRA taxable income that was going to be collected slowly and got everybody to convert them and pay taxes on them over 5 years. Robbed 25 years of future tax revenue and got it all in 5 years instead. Same thing with this, except they will get all the money now AND make you pay taxes on it when you withdraw it. Pretty good deal, they get paid twice on your money and give you a shitty return.
“Getting ready for November either way. Violent conflict is coming.”
I’m afraid it is now inevitable. I’ll be 70 next year, so I’m not going to get terribly excited about it. I can say that because we have no children. My wife and I have no illusions about how things are apt to end up for us, but I guarantee we will not go gently into that good night.
The Davos Summit hoi polloi already came up with this agenda, from which Joe’s speech writers borrowed the buzzwords ‘ Shareholder Capitalism” and left out the term “ Stakeholder Capitalism”
Too bad Milton Friedman isnt around to set these naive fools straight.
I tremble at what business schools are teaching now
It will be an interesting “fundamental transformation” of our economy, society, and nation.
Biden contends that he will take a prosperous, almost market based economy, kill all capital generating functions, greatly increase taxes, eliminate whole industries, impose ridiculous suicidal (economically) environmental regulations and laws, and drive all productive taxpayers out of the country.
While this is happening, homelessness and violent crime will skyrocket in all major and medium sized cities. For an encore, he will pack the SCOTUS, the Senate with new “States” that vote Democrat exclusively.
All this will lead to widespread calls for specific states to secede, and great sections of each population will escape to those states. This seems rather easy to predict. Beyond that, is anyone’s guess.
The Democrat/Left really needs to get control of this guy ... or stop fooling around and just replace him with Bernie Sanders.
I can’t imagine why he would say something like this in one of the whitest places in North America ... and that includes Canada.
” And don’t respond to this post about how they will do it over your dead body. “
Nice projection you got going there, buddy.
Peoplw who cannot conceive that people who are pushing can push to far are likely themselves endlessly pushable.
That’s the only explanation I have for those who believe no one anywhere has any balls.
Does the average tax payer start shooting right at the start? After all, they haven't taken anything. In fact, with all of the forced selling of assets the other 80% will have gone down in value while the 20% will be stable. (forgetting to mention that the thrashing of the market was entirely caused by the government). If you don't shoot up the Treasury Department then, do you wait until 25%? 40%? 50%? 75%?
Boil, froggy, boil!
“Biden is being controlled by Barack Obama. If he wins it will be Obama’s third term.”
Yup.
If they whine about the education system it will be the perfect opportunity to agree with them, remind them who has been in charge of it for 50 years and say it’s time to change course so we can make America great again.
Hate to break it to you Joe, but there are far more “shareholders” in the USA than there are union members. Thank the replacement of pensions with 401ks for that.
Instead of tearing down statues we should be burning Howard Zinn books.
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