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Commies gonna commie

Elizabeth Warren has a really terrible idea (what’s new?):

Warren’s “Accountable Capitalism Act” would require that corporations that earn more than $1 billion in revenue a year (note “revenue,” not “profits”) would need a federal “charter” in order to operate. This charter would obligate these companies to consider all “stakeholders,” not just shareholders, when making decisions. The bill would also require these corporations to permit employees to elect 40 percent of the company’s board of directors; a super majority of 75 percent of directors and shareholders would have to approve political donations. (Gee, I wonder if somebody will propose something similar for unions?) Shareholders would be permitted to sue the company if they felt its actions were driven purely by profit and did not reflect the desires of its many “stakeholders.”

The justification for all this is the common, economically sketchy claim of income inequality; that the rich are getting richer and that wages are stagnating. Warren complains in a Wall Street Journal commentary that shareholders have “extracted” $7 trillion in profits since 1985 that “might otherwise have been reinvested in the workers who helped produce them.”

I think we should start a campaign to email her books on basic economics.

9 Responses to “Commies gonna commie”

  1. JTC Says:

    And one of those books should be titled “Faces of Communism” with the face of Pocahontas itself right on the cover.

  2. Lyle Says:

    With hyper-inflation around the corner, we’ll all be billionaires soon enough.

    “I think we should start a campaign to email her books on basic economics.”

    Once again; if you believe they’re acting out of ignorance or stupidity then you’re completely misreading the situation.

    They’re acting, systematically and methodically, out of lust for power and they’re very good at it. Extremely good if they have you believing that they’re merely dumb. You’re also letting them off the hook with the excuse, “I had no idea…”.

    Sure, they do in fact have a lot of people buffaloed, but the planners, movers and shakers know exactly what they’re doing. Attempting to “educate” them (or their pawns) is therefore a waste of time, just like “educating” a bank robber on the laws against robbery.

  3. Eric Wilner Says:

    Properly speaking, if the means of production remain nominally in private hands while economic activity is directed by the government, it’s not so much Communism as Fascism.
    It’s important to know your isms… and to recognize a true Fascist when you see one.

  4. JTC Says:

    Call it what you will, all isms boils down to this (lifted from the comment of a Canuckian who knows whereof he speaksno less)…

    “…resources to fuel those who offer nothing of value except a voter base…”

    Money=Power=Control…always follow the money.

  5. Jeffersonian Says:

    I remember arguing with my smarter older brother that Obama was a socialist, Marxist, communist. Which he would argue against. After Obama confiscated GM and Chrysler I admitted he was right. Obama is a fascist. Mea culpa.

  6. JK Brown Says:

    Thomas Sowell’s ‘Basic Economics: A Commonsense Guide’

    It is an excellent book.

    And a good place to hide guns from socialists

  7. hist_ed Says:

    Second to what Eric said. I did my graduate work on totalitarianism, the idea that private companies should be forced to do the government’s bidding for the public good is classic Mussolini. Kind of amazing that a Harvard professor wouldn’t know that.

  8. HL Says:

    The rich get richer because they keep doing what made them rich. The poor get poorer for similar reasons.

  9. PaulB Says:

    The Harvard professor does know it. As most of the college graduates of the last decade know it. You cannot trust any elected official to do anything beyond line their pockets.

    If they do something that aids us it is more an accident than anything else. Now trump still has some time to show if he will succumb to the siren song. So far he appears to be holding out against it.

    Next few months should tell the tale and set the direction of the country for the next decade.