IT BEGINS: Elizabeth Warren Introduces ‘ACCOUNTABLE CAPITALISM ACT’
From the Post:
"Firebrand Senator Elizabeth Warren introduced new legislation this week; unveiling her ‘Accountable Capitalism Act’ that seeks to make the nation’s largest companies “more accountable” to local communities than “shareholders.”
Warren revealed her potential 2020 campaign promise in an op-ed published by the Wall Street Journal, where the left-wing legislator slammed the country’s biggest corporations for not treating their employees as “priorities.”
"That shift has had a tremendous effect on the economy," she wrote. "In the early 1980s, large American companies sent less than half their earnings to shareholders, spending the rest on their employees and other priorities."
"But between 2007 and 2016, large American companies dedicated 93% of their earnings to shareholders," Warren added..."
A couple of points that I don't think need stating but I'm going to anyway.
1. The dates she specifies were the last year of Bush 43 and all of Obama.
2. Share Holders put their money at risk in order to make money. Employees agree to work for a specific wage package with or without bonus. pSmart companies give good wage packages]
3. Communities receive taxes from companies and its employees in return for services rendered.
The three involved actors (Company, workers and community) all receive benefit from this arrangement. All are free to cancel the arrangement at any time. Forcing one component to do more than it's fair share cause the whole system to breakdown.
Yes I know there have been and some remain abuses of the system by companies, the workers and the communities. In these cases all suffer and eventually pass away, even the communities'.
"Firebrand Senator Elizabeth Warren introduced new legislation this week; unveiling her ‘Accountable Capitalism Act’ that seeks to make the nation’s largest companies “more accountable” to local communities than “shareholders.”
Warren revealed her potential 2020 campaign promise in an op-ed published by the Wall Street Journal, where the left-wing legislator slammed the country’s biggest corporations for not treating their employees as “priorities.”
"That shift has had a tremendous effect on the economy," she wrote. "In the early 1980s, large American companies sent less than half their earnings to shareholders, spending the rest on their employees and other priorities."
"But between 2007 and 2016, large American companies dedicated 93% of their earnings to shareholders," Warren added..."
A couple of points that I don't think need stating but I'm going to anyway.
1. The dates she specifies were the last year of Bush 43 and all of Obama.
2. Share Holders put their money at risk in order to make money. Employees agree to work for a specific wage package with or without bonus. pSmart companies give good wage packages]
3. Communities receive taxes from companies and its employees in return for services rendered.
The three involved actors (Company, workers and community) all receive benefit from this arrangement. All are free to cancel the arrangement at any time. Forcing one component to do more than it's fair share cause the whole system to breakdown.
Yes I know there have been and some remain abuses of the system by companies, the workers and the communities. In these cases all suffer and eventually pass away, even the communities'.
