Warren & the Accountable Capitalism Act

[toddnjoyce]

So the Accountable Capitalism Act was a 2018 effort by Warren to require companies with more than $1B in revenue to get a federal .gov charter (which could be revoked) to operate and comply with a bunch of ‘feel good’ rules or else...

Anyways, it failed to make it out of committee.

Last week, Warren sent a five page letter, on her Senate letterhead, to the Business Roundtable (BRT) demanding the member companies. “... endorse and wholeheartedly support the reforms laid out in the Accountable Capitalism Act.”

The full story is behind a paywall, but the WSJ’s editorial opined that

“CEOs can’t buy off Mrs. Warren and the left with this or that rhetorical or policy concession. Her intention is to co-opt and redirect the capital that business and individuals now control. The only way to defeat this threat is to defend the morality of free markets and the moral and fiduciary duty of corporations to their shareholder owners.”

https://www.wsj.com/articles/king-warren-of-the-roundtable-11570395953

I sense the Journal has tired of the aspirational socialism and is laying the ground to rendered Trump not because of the man, but in the name of capitalism.

 

[Vaquero]

"Everything I have, I stole from Greta"
Vaquero

 

[Davetex]

"Everything I have, I stole from Greta"
Vaquero

#MeToo

 

[BillFairbanks]

"Everything I have, I stole from Greta"
Vaquero

Sent from my iPhone using Tapatalk

 

[MTA]

"Everything I have, I stole from Greta"
Vaquero

HOW DARE YOU
Edit. Bill beat me to the punch

 

[pronstar]

Yes, the Dems know how to spend those windfall profits.
Because remember, you didn’t build that.


Sent from my iPhone using Tapatalk Pro

 

[Texasgordo]

#MeToo

Ha! I always see "PoundMeToo"!

(Probably OOC material but WTH)

 

[Inspector43]

Our grandchildren and great grandchildren are in a heap of trouble if we can't turn this socialism movement around. I like all the messages on this board but they are not getting to the audience that needs them.

 

[oldag]

Our grandchildren and great grandchildren are in a heap of trouble if we can't turn this socialism movement around. I like all the messages on this board but they are not getting to the audience that needs them.

Sadly, the audience that needs them is not rational. So any messages are lost on them.

 

[sidebite252]

Our grandchildren and great grandchildren are in a heap of trouble if we can't turn this socialism movement around. I like all the messages on this board but they are not getting to the audience that needs them.

Unfortunately this (group & message) is now the minority.

 

[Ole Cowboy]

So the Accountable Capitalism Act was a 2018 effort by Warren to require companies with more than $1B in revenue to get a federal .gov charter (which could be revoked) to operate and comply with a bunch of ‘feel good’ rules or else...

Anyways, it failed to make it out of committee.

Last week, Warren sent a five page letter, on her Senate letterhead, to the Business Roundtable (BRT) demanding the member companies. “... endorse and wholeheartedly support the reforms laid out in the Accountable Capitalism Act.”

The full story is behind a paywall, but the WSJ’s editorial opined that

“CEOs can’t buy off Mrs. Warren and the left with this or that rhetorical or policy concession. Her intention is to co-opt and redirect the capital that business and individuals now control. The only way to defeat this threat is to defend the morality of free markets and the moral and fiduciary duty of corporations to their shareholder owners.”

https://www.wsj.com/articles/king-warren-of-the-roundtable-11570395953

I sense the Journal has tired of the aspirational socialism and is laying the ground to rendered Trump not because of the man, but in the name of capitalism.

Capitalism is the ONLY economic system that is organic to all peoples regardless of age, sex, education or anything else.

EVery where you find Socialism you find capitalism in the form of underground or black markets.

That said like anything else capitalism does require some degree of regulation by the Govt. There are 2 KEY roles the govt must play to ensure Capitalism works:
1) Ensure that taxes, rules and regulations do not hamper the formation of or growth of business.

2) Ensure that no business gets too big to fail and no business becomes so vertical that it in effect operates as a monopoly.

In California, 40% of the cost of a new home is in regulatory costs and overhead.

Socialism is coming and I see no way of stopping it. Govt give away programs are nearly ⅓ of the Govts revenue. Those who get goods, services and pay in exchange for a vote believe in Socialism, after all its the life they lead and it's not a bad life...Free lunch, fone, housing, food and a cradle to grave life. How good is it? At 3.5% unemployment jobs are easy to come by, if you can fog a mirror you can go to work...yet the welfare rolls have only decreased by about 8.5 Million people currently at 35.5 Million (based upon number of Food Stamp recipients).

That said when Socialism arrives it is gonna create one hellva black market.

 

[Whistler]

Nothing we can tell them they don't already know. Y'all seem to think this ideology and dogma are real. This is about money and not being in control hurts the money. Before Trump everybody was in on it, Trump is rocking the boat, costing them big and has to go, by any means.

 

[karlac]

That said like anything else capitalism does require some degree of regulation by the Govt.

Capitalism requires a moral component (Adam Smith).
Christianity plays a big part in teaching its children moral values (ten commandments, et al).
Why the left is bound and determined to root out/subdue Christianity at every opportunity.

 

[Antares]

Capitalism is what makes the world work, it is an incentive for people to work and to strive to invent new products to better themselves. To be working for a goal and to achieve greatness. Socialism dampens the will to achieve greatness why bother. If everyone is the same it drowns ingenuity why bother. They just sit around waiting for the goobermint to tell them what they do, unless of course you are the ruling class and they are always trying to achieve more power.

 

[Ole Cowboy]

Capitalism requires a moral component (Adam Smith).
Christianity plays a big part in teaching its children moral values (ten commandments, et al).
Why the left is bound and determined to root out/subdue Christianity at every opportunity.

Concur...any nation has to have a fabric on which to build upon and establish a commonality of shared values and outlook. This is where "diversity" often fails the test. One can almost always make a pot of soup better by adding potatoes, onions, beans, garlic, pepper etc. But something just do not go mix well, cookies n cream ice cream in my pot of beef stew...Christianity and Islam.

 

[oldag]

For those who can access the WSJ:

https://www.wsj.com/articles/king-warren-of-the-roundtable-11570395953?mod=hp_opin_pos_1

 

[Ole Cowboy]

Elizabeth Warren

✔@ewarren

If Facebook finds my scrutiny uncomfortable, here's what Mark Zuckerberg and his team could work on:
—Ending his company's illegal anticompetitive practices
—Protecting consumers' privacy instead of Facebook's profits
—Ensuring Facebook isn’t undermining our election security


Warren is slick, even I can agree with these points, but her solutions are not so good.

 

[Inspector43]

There is one element of the Trump economy that that should be posted regularly for everyone to see. I don't care what party you proclaim as yours, the unemployment rate today is the lowest it has been in 50 years. None of the liberal plans work very good if we don't have jobs. Today, if you want a job you can get a job.

 

[toddnjoyce]

The full five-page letter is publicly available here: https://www.warren.senate.gov/download/2019-10-03-letters-to-ceos

One of the proposed requirements is that “worker representatives” comprise 40% of the Board of Directors (p.2) leading to a co-determination corporate model similar to your favorite European socialist countries.

P. 4 is where she clearly states she “expects” the 182 BRT corps to “endorse and wholeheartedly support” her reintroduction of the Accountable Capitalism Act

She continues on to demand “concrete steps” being taken to achieve the progress towards the BRT goals, to include company plans, policies, or procedures.

I’m sorry, that’s beyond regulatory or legislative oversight and this letter is damned near outright extortion.

 

[Mowingmaniac 24/7]

What do you expect from a criminal socialist lawyer?