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Elizabeth Warren tells big corps. to cut it out with “Accountable Capitalism Act”

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Bronx-Man

Bronx-Man

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Oct 25, 2017
15,351




"For most of America's history, when our companies did better, our workers did better"

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Outside of being flat fucking wrong, Warren is out right agreeing with Bernard's statement as to how they're different with this right here. Clinton, Obama, and Hillary all spent years either upholding or promising to uphold "regulated" "accountable" capitalism and it did nothing but delay the biggest recession in a century. It's good to see our frontrunners still can't see that however. Thoughts from you guys on if capitalism can be held accountable? Let the Inner Circle of ERA lock this if old.
 
Servbot24

Servbot24

The Fallen
Oct 25, 2017
43,188
I am for capitalism with a hard cap. How achievable that is, I honestly have no idea.
 
Paz

Paz

Member
Nov 1, 2017
2,152
Brisbane, Australia
Is there a nice recap of the key points anywhere? I'm always curious about this kind of plan vs say, drastically raising taxes and closing offshore tax loopholes.
 
Nobleman Swerve

Nobleman Swerve

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Oct 27, 2017
1,608
If anyone is interested, this is the actual bill being proposed by Warren. That or you can just make up your mind by reading it's title.
 
HStallion

HStallion

Banned
Oct 25, 2017
62,262
Personally unless the plan involves Warren choke slamming CEO's into burning piles of their own money then I'm not sure I can be any part of this.
 
dots

dots

Member
Oct 27, 2017
3,894
Paz said:
Is there a nice recap of the key points anywhere? I'm always curious about this kind of plan vs say, drastically raising taxes and closing offshore tax loopholes.
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Biggest thing is 40% of boards of directors being elected by workers rather than shareholders.
 
Tfritz

Tfritz

Member
Oct 25, 2017
13,305
it basically reads like a whole lot of nothing but lol at evil neoliberal capitalist warren being the one helping workers seize the means
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antonz

antonz

Banned
Oct 25, 2017
5,309
Regulated Capitalism is the best we can hope for. I see a lot of fantasy dreams of a world without capitalism but even the most Democratic Socialist countries are Regulated Capitalist Economies.
 
Killthee

Killthee

Member
Oct 25, 2017
4,169
RailWays said:
lol
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phazedplasma said:
non binding pledge lol

Cool
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What's funny about her using their pr stunt to bring attention to her bill? She knows they were hollow promises, she's throwing it back at their face to highlight how we need tangible regulation to keep them in line.

Senator Warren Asks CEOs to Honor Their Commitments to 'Promote an Economy that Serves all Americans'

"Commitments are hollow if they're not accompanied by tangible action that provides real benefits to workers and other stakeholders"

United States Senator Elizabeth Warren (D-Mass.) sent letters to the CEOs of Amazon, Walmart, United Airlines, General Motors Company, JPMorgan Chase, BP, AT&T, Comcast, Cigna, and Union Pacific. These ten CEOs are among 181 CEOs who recently signed a pledge on behalf of their companies to follow Business Roundtable's (BRT) new Statement on the Purpose of a Corporation, and "commit to deliver value to all" stakeholders, including workers, "for the future success of our companies, our communities and our country." The letters ask for tangible steps each CEO plans to take to implement the BRT principles and also asks whether each CEO will take steps laid out in the Accountable Capitalism Act, which Senator Warren and House Assistant Speaker Ben Ray Luján (D-N.M.) announced today that they would reintroduce later this month.
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sphagnum

sphagnum

Banned
Oct 25, 2017
16,058
Keynesianism is a step up but not enough. Keep up the pressure and push the party left.
 
Elandyll

Elandyll

Avenger
Oct 25, 2017
8,829
I am generall advocating for social capitalism (which is basically highly government regulated capitalism with incentives to treat workers better and punishment for "bad behavior"), so I think this is a step in the right direction.

One thing to start with would be to completely sever the relations between big money and government by making lobbying illegal, and putting a minimum 5yr ban on certain positions to be able to move into cushy executive/ board seats.
 
Antrax

Antrax

Member
Oct 25, 2017
13,292
Dennis8K

Dennis8K

Banned
Oct 25, 2017
20,161
Increase corporate tax.
Close tax loopholes.
Increase wealth tax to the level of earlier decades in America.
Add a 80% tax on stock buyback income.
Punish Apple and Microsoft etc. not paying their taxes. Federal prison for the CEOs.

No voluntary nothing. Just fucking obey these laws or go to federal prison.
 
mugurumakensei

mugurumakensei

Elizabeth, I’m coming to join you!
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Oct 25, 2017
11,335
The plan is good and revocation of corporate charters is a much stiffer penalty than fines since it opens the board members making poor decisions up to liability if they are engaging in anything illegal.
 

Deleted member 25600

User requested account closure
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Oct 29, 2017
5,701
Capitalism cannot be held accountable forever. You can only temporarily place restrictions on it, but it will inevitably erode them as companies lobby against said restrictions over time.
 
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Deleted member 23212

User requested account closure
Banned
Oct 28, 2017
11,225
Accountable and capitalism don't go together.
And come the fuck on, workers did better for most of America's history? America had poor working rights/conditions until the around the New Deal when capitalism had its major recession and workers' movements were huge, and even afterwards it's not liking everything was rosy.
 

Gyro Zeppeli

Member
Oct 27, 2017
5,289
Those tweets infuriate me for some reason. It reeks of treating corporations with kid gloves. The devil is in the details, of course, but the presentation from those tweets is not one where Liz is going on a crusade against the corporations. Total buzzkill. The fucking "non-binding pledge" says it all, really.
 
Wamb0wneD

Wamb0wneD

Banned
Oct 26, 2017
18,735
Lol @ the OP. Stop trolling.

Warren did more to hold Wall Street scum accountable than anyone else running. And yes, that includes your Bern.


All she is saying in the linked tweets is that indeed things need to benefit workers more. There need to be laws that actually let shit trickle down instead of promises.
 
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tabris

tabris

Member
Oct 27, 2017
4,237
I've said this before. Just tax income, capital gains, and estate tax at increasing rates up to 80-90% at top brackets but progressively increasing to that percentage starting at $200k. No tax incentives or exceptions. Use that for universal basic income across the board - no exceptions- everyone gets X amount. You work for X + Y amount. X is a basic lifestyle in many areas of the country. You need Y for more in life. And of course universal healthcare and education. This will redistribute income to the higher cash velocity nature of the lower income brackets without stifling ambition too much. It'll remove dead money that's a huge problem for this economy. Dead money that gets used as capital to make more money thus increasing income disparity.
 
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