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 ...
Exactly. Capitalism only exist thanks to the freedoms and the law restraining government. Saying they fight capitalism is a red herring, they are fighting the rule of law, period. But politically correctly they appear to be for the law and against the banks...
I am unable to distinguish Biden’s plan from the former plans of National Socialists.
First they came for the billionaires, and I did not speak because I was not a billionaire, eh?
My point exactly.
“ They have a responsibility to their workers, their community, to their country.”
There’s a term for an economic system in which the state allows private enterprise to exist but controls the means of production and sets its priorities.
What could it be? ;)
Fascism?
The Chinese Communist Party must write everything for him
Most shares are actually held by large institutions, including pension funds (which are the savings of millions and millions of workers).
Bottom line—attacking capitalism is attacking workers.
The left can’t figure it out, but you can be sure folks who are depending on future pensions will “get it”.
Joe Stalin
Yes!
Hang every crazy thing he says around his neck like a millstone.
You could build an entire series of commercials based on his proposals (and I hope the Trump campaign is doing just that). In addition, pick up on all the very leftist proposals being put forth by radical Democrats in the House.
I actually feel sorry for Biden on a personal level even if he agrees to it. That said, assassinate his character (what’s left of it) by directly associating him with this nonsense then dare him to disavow it.
They still haven’t capitulated from 2016.
I’m surprised the full nationalization and state ownership of airlines, steel, primary metals, energy and automobiles hasn’t been proposed yet.
I don’t think even Liz Warren has suggested doing away with shareholders.
Capitulate? Hardly. They will double-down on everything.
“Shareholder capitalism is capitalism“
I suppose there are other ways of setting up private ownership - like transition to all family-owned or partnership businesses. Maybe.
But what law or XO will Joe sign to enact this incomprehensible change in how capital is owned?!?!?
He also said he wants to workers to run the company. When did the Democrats ever care about the workers in the last 50 years? Only because Trump keeps talking about the workers they want to raise the ante. Schizophrenic Biden
It’s Joe the Peddler.
I HATE that argument. This is the land of more opportunity than any other on earth. If you are willing to get educated, work hard, avoid an entitlement mentality, persevere through adversity, show up on time, put in long hours, avoid dope and alcohol, and pick yourself up when you fail you WILL succeed and enjoy the limitless economic prosperity America has to offer.
The crap he is spewing is shorthand for “gibs me dat.” Nothing more.
So list the pharmaceuticals and medical supplies made in the US...
Now, I suppose Joe Biden can propose that the government can provide the capital (on your behalf and mine), but ultimately the decisions are made by bureaucrats. Timid, politically-connected, lacking-imagination bureaucrats. Just ask the Soviet Union how that all worked out.
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