Liz Warren Totally Wants To Save Capitalism Or Something

Over at the Washington Post, Christine Emba confuses what can charitably be called a command economy (or socialism) with capitalism. It’s about as honest as Warren claiming she’s part Indian

Elizabeth Warren isn’t out to get capitalism. She’s out to save it.

Elizabeth Warren loves capitalism. But she loves duty, too.

The Democratic senior senator from Massachusetts rolled out her Accountable Capitalism Act in mid-August, though it was quickly overtaken by much less high-minded news — who knew Omarosa’s return could be so all-consuming? So far, most of the discussion around the bill has nitpicked its particular policy proposals. Could German governance practices work in the United States? Does the Commerce Department really need more responsibilities? How would this bill do in the Senate? (Answer: badly, considering the current Republican majority.)

All good and important questions. But what’s more interesting is the moral vision behind the bill. In an America where individual choice is sacrosanct, Warren wants to bring back obligation. Her bill is clearly meant to draw our minds (and our corporations) back to the duties we owe to one another — and to how we fail to live up to them.

But first, the specifics. The heart of the Accountable Capitalism Act is a requirement that companies with more than $1 billion in revenue obtain a corporate charter at the federal level, rather than basing themselves in the most loosely regulated state they can find. (Sorry, Delaware.)

This new charter is meant to address an epidemic of bad corporate behavior, especially the tendency of top executives to value profits over wider well-being. It would obligate executives to consider the interests of all corporate stakeholders — including employees, customers and communities — not just shareholders. It would require that at least 40 percent of company board members be elected by employees, an idea known as co-determination. The bill also contains provisions curbing stock buybacks, which tend to benefit only shareholders, and unilateral political expenditures.

So, her view of capitalism is that it must be saved by putting the federal government in charge of private entities?

Let’s flip over to an Atlantic article from a few days ago

Elizabeth Warren’s Theory of Capitalism
A conversation with the Democratic senator about why she’s doubling down on market competition at a moment when her party is flirting with socialism

And over to the Free Beacon

Sen. Elizabeth Warren (D., Mass.) defensively declared herself a capitalist in an interview published Tuesday, saying markets are “what make us rich” as long as they’re “fair.”

What Fauxahontas is doing is faking her position as a capitalist to separate herself from her unhinged Socialist buddies in the Democratic Party. She may, in fact, not want full on Socialism, but what she does want is the federal government in control of economic activity to the max.

Warren’s “accountable capitalism,” in contrast, takes a much more hands-on approach to ensuring good behavior, and in the process makes important assertions about our individual moral tendencies. Its insistence on forced integration of corporate boards points to a firm belief that many, if not most, business leaders act selfishly simply because they can, and that they need to be forcibly curbed. And it posits that state intervention, not just suggestion, is the way to do it.

A garbage dump by any other name would smell just as bad.

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12 Responses to “Liz Warren Totally Wants To Save Capitalism Or Something”

  1. Liljeffyatemypuppy says:

    Speaking of another brilliant old nag from the demo party:

    “He could have very sobering outbursts, but when the chips were down, Donald McCain was there,” Feinstein said.

    Heard she needs a new driver too.https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

  2. Jeffery says:

    We ignore the abuses of capitalism at our own risk.

    https://www.youtube.com/watch?v=q2gO4DKVpa8

    As Senator Warren warns, it needs to be repaired to meet the needs of ALL Americans not just the wealthy. For example, when the GOP gave corporations a trillion $ windfall, the companies initiated stock buybacks, driving up stock prices, rewarding the execs and shareholders. The predicted economic expansion did not happen. Working class wages were not increased. tRump’s taxes on foreign goods hurts the American consumer, increasing prices, and in some cases causing worker layoffs.

    If you believe the GOP or tRump has your economic interests at heart, you’re being foolish.

    • Hoss says:

      If anyone believes the bullshit you’re peddling, they’re being complete dumbasses.

      • Jeffery says:

        Hoss,

        The US economy has been abused since the Reagan Revolution, when the elites decided the US should become a plutocracy.

        If the white working classes want to see the continued erosion of their economic prospects, keep voting for Republicans. They and their handlers welcome your emotional and economic support based on your fears.

    • Jl says:

      “When the GOP gave corporations trillions…”. Actually, they didn’t “give” them anything, rather they get to keep more of what was theirs to begin with.

      • Jeffery says:

        We all have the responsibility of supporting the expenses of our government – defense, Social Security, interest on the burgeoning debt, Medicare, Medicaid, highways, ports, airports, Homeland Security, R&D etc.

        When the wealthy and corporations are excused from paying their share, the burdens fall onto the working classes, either as tax increases, hidden as debt, or as service cuts (e.g., cuts in Medicare, failing infrastructure, dirt air and water).

        The creation of corporations is allowed by our government and is a cornerstone of democratic capitalism. But with the protections afforded to corporation, their executives and especially their shareholders come responsibilities, including paying taxes. The amount of taxes paid is a political decision. No one is forced to create a corporation; it’s not a requirement to do business, but the process of incorporation protects investors from ruin. Although a stockholder is a part owner, stockholders are not responsible for the actions of the corporation.

        Should corporations pay a lower tax rate on profits than working class Americans?

  3. Liljeffyatemypuppy says:

    The man’s a tyrant…

    President Trump’s threat to impose tariffs on imported cars is working, sending foreign leaders from Mexico to Japan racing to the negotiating table to make deals.

    https://www.nytimes.com/2018/08/30/business/europe-trade-auto-tariffs.html

    https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

  4. Jeffery says:

    puppies:

    The man’s a tyrant

    Agreed.

    While decent America celebrates the life, patriotism and heroism of Senator John McCain, our tyrant in chief (who understands none of those characteristics) sits alone fuming about how no one will ever honor him in such a way. Perhaps this will have an impact on the hypocrites that comprise the GOP. But we doubt it.

    The Lilliputians at the Gateway Pudendum are having a field day desecrating Senator McCain as a traitor. Since Senator McCain didn’t grovel at tRump’s feet, the tRumpitista hate him.

  5. Liljeffyatemypuppy says:

    The man’s an idiot, hasn’t accomplished a thing…

    Indeed, after just 18 months, Trump has “flipped” two circuits — the Sixth and Seventh — from what Trump’s supporters in the conservative legal movement consider “liberal” to more properly conservative. Two more — the Eighth and the 11th — are on the verge of tipping.

    https://www.nytimes.com/2018/08/22/magazine/trump-remaking-courts-judiciary.html

    https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

  6. Liljeffyatemypuppy says:

    When You’ve Lost Geraldo …

    https://tinyurl.com/y792os5w

    https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

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