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Elizabeth Warren introduces dangerous anti-capitalist bill

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Elizabeth Warren introduces dangerous anti-capitalist bill

Elizabeth Warren made a big announcement this week in introducing her new bill called the “Accountable Capitalism Act.” Her bill aims to “eliminate skewed market objectives” and return America to an era in which “American corporations and American workers did well together.” It’s unclear when the utopia like conditions were according to Warren; however her website lists the 1980’s as the time period in which corporations shifted focus to maximizing shareholder returns. In any business college, it is taught that the job of a CEO is to maximize shareholder wealth. Senator Warren wants to shift this mentality with her new bill. In the statement on her website, she asserts that the “shift” has led to booming profits and less reinvestment into the companies themselves. She claims that wages have not increased despite booming corporate profits. Elizabeth Warren then moves to make the argument that the top 10% owns 84% of American stock and only 50% of households own stock. Thus, she claims, that this reinforces a cycle of the rich getting richer. This is a growing socialist sentiment that poor people, and even middle class, are incapable of affording stock. The main bullet points are outlined below. Read the text of the bill here.

Office of United State Corporations (more government!)

The bill creates a new administration within the Department of Commerce. Corporations earning more than $1 billion in revenue are required to obtain a charter from the federal government, per this new created office. The charter obligates these large corporations to consider the interests of all stakeholders. Failure to obtain this permit to exist results in loss of corporation, which in business terms mean, it would no longer be treated as a separate entity. Therefore there would be no liability protection. The Director of this office would be a Presidential appointee and requires Senate confirmation. The term last four years. Warren seeks to create a new and powerful tentacle of the Federal government.

Employee Chosen Board of Director

Employees, not shareholders, will have the ability to choose no less than 40% of a company’s board of director. This bullet point is perhaps the most ridiculous and anti-capitalist. Company boards serve to set goals for the company. The board is usually chosen by investors. In the world of private investment, the board of directors is a bargaining chip for control of the company, as opposed to just percentage of stock. Warren’s bill doesn’t outright say it, but she wants unions to control company boards. Meaning instead of the company’s interest, the board will be powerful weapon of the union. Boards start out as founding members, investors and their appointees, and neutral parties because entrepreneurs and investors craft such interesting deals. Insisting that 40% must be elected by employees renders a board relatively useless for small investment worthy companies or inflates company boards well beyond what they should be for their size (ie small company with GM size board.) This will possibly lead to more empowered officers and weakened boards so that CEOs can perform their fiduciary responsibilities without a labor union threatening their disposal. This could also make companies more risk adverse because undoing mistakes, laying off workers, and other rainy day measures are now more difficult to undo. Ultimately this would empower worse CEOs, ones who aren’t as interested in shareholder wealth. The Securities and Exchange Commission along with the National Labor Relations Board are responsible for enforcing this part of the act, as further indication that this applies to all corporations. Stiff daily fines are to be imposed for failing to comply.

Government control of stock options

Elizabeth Warren claims top executives are compensated mostly with stock options. Her bill restricts these executives ability to sell their shares for five years so that they can focus on long term company success. Basically these executive will be given stock, but will have no real ownership of that stock. This would be the government restricting private property. These types of issues are best left to corporations and shareholders who already impose vesting periods to ensure the same exact goal.

Supermajority for political expenditures (not for unions)

This is a jab at Citizens United because Elizabeth Warren and others are butthurt about the outcome of a critical first amendment case Supreme Court case. It forces company shareholders to vote in order for a corporation to make any political expenditures. It imposes a 75% supermajority threshold. Conspicuously absent from this requirement are labor unions.

Revoking of charter

The corporate charter resembles a “rule of club” for large companies. If they don’t meet the requirements of their charter or have a history of illegal activity, they will have their corporation status removed in time. The question is how political will the enforcement of these charters be? Will there be a separate set of rules for democrats and republicans? If the rest of government is any indication, the answer is clearly foreshadowed.

Closing Thoughts

The socialist movement wants to fundamentally change the purpose of starting a business and running a company. This would most certainly lead to lower caliber CEOs. The bill makes no mention of labor unions yet it’s intentions are clearly to empower them in companies that still allow them and to create politics in organizations that do not. This ideas pressed fourth in this bill are sure to gain traction, just as “Medicare For All” became a socialist rallying point. It brings about questions of how business literate politicians like Senator Warren are? Do they fundamentally misunderstand what a corporation is, or do they not care? The bill aims to reduce a shareholder’s power and return on investment which will only hurt our economic growth. While Elizabeth Warren’s bill isn’t socialist, it is heavily anti-capitalist.

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Culture and Religion

Listen to every word Burgess Owens says about reparations

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Listen to every word Burgess Owens says about reparations

Former NFL player Burgess Owens delivered an amazing speech before Congress today talking about reparations. He called for them, but not from the United States government as Democrats are wanting. He wants reparation paid by the Democratic Party to the African-Americans Owens believes have been hurt by the leftist ideology espoused by today’s Democrats.

The opening minute of his speech was exceptional:

“Thank you so much for this opportunity. I’m gonna take a different tack from beginning. We are at this point, this is not about black and white, rich or poor, blue collar, white collar. We’re fighting for the heart and soul of our nation.

“We have a very, very special country instilled with the Judeo-Christian values that allowed every single generation become better than the last, and that has not ended, that has not stopped… until now. We’re telling our kids a little bit something different, that they don’t have the opportunities that we had.

“I’m going to talk about some ideologies and when I talk about them I’m not talking about people. People change. I used to be Democratic until I did my history and found out the misery that that party brought to my race. So when I talk about these ideologies, ideologies don’t change. People do.

“We are fighting for the heart and soul of our nation against socialism, Marxism, and evil that it has brought to us in distilling of our history. Karl Marx said it best, the father of socialism, an atheist, anti-semite, and a blatant racist.”

As good as his opening was, the rest of it was even better.

In our post-truth society, the words of Burgess Owens will be dismissed or ignored by the left. But hopefully some will hear them and start asking questions about Democrats as he did.

We are currently forming the American Conservative Movement. If you are interested in learning more, we will be sending out information in a few weeks.

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Democrats

AOC offers no solutions and ‘not one dime’ for DHS to fix ‘concentration camps’

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AOC offers no solutions and not one dime for DHS to fix concentration camps

Let’s play a quick game of “read between the lines.”

Alexandria Ocasion-Cortez complained about migrant detention centers at the border being “concentration camps.” I disagree, but so be it. Let’s assume the detention centers are inhospitable and even inhumane based on the sheer mass of people coming across the border and filing asylum claims. One would think the solution would be to improve conditions by increasing funding so quality and quantity of housing at the centers across the border can be improved.

But that’s not what AOC wants to happen.

“Not one dime should go to DHS for building these camps as they detain children and families,” she Tweeted.

So, back to reading between the lines…

The current detention centers are insufficient to handle the influx of migrants.

But AOC and the party she now controls won’t vote to fund them at all, let alone giving them sufficient funds to handle the masses.

Therefore, AOC wants migrants to be immediately released into the interior of the United States once they receive their hearing date, which 90% won’t attend anyway.

As AOC takes control of her party, her “leadership” is to recommend not allowing migrants to be detained in “concentration camps” and no funding to improve them. She wants them released without restrictions.

We are currently forming the American Conservative Movement. If you are interested in learning more, we will be sending out information in a few weeks.

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Democrats

7 reasons Joe Biden will not be the Democratic nominee

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7 reasons Joe Biden will not be the Democratic nominee

There are those who say the Democratic nomination for president is Joe Biden’s to lose. And he will. As much as I’d love to see the only Democratic candidate who doesn’t want to destroy America become the nominee just in case President Trump loses, it’s becoming increasingly clear he has no real chance.

Why? Because he sounds like the Democrats of 2012, which means he’s completely out of touch with the New Democratic Party being crafted by the likes of Bernie Sanders, Gavin Newsom, Alexandria Ocasio-Cortez, and Pete Buttigieg.

Here are seven reasons I believe Biden will not only lose the nomination, but will not be among the last two or three standing.

  1. Progressives are splitting the majority polling nods. Don’t be fooled by his frontrunner status. He’s the only non-radical in the top five. Sanders, Elizabeth Warren, Kamala Harris, and Pete Buttigieg represent different aspects of the growing hyper-leftist base of the Democratic Party. When the 15 or so non-factors in the race drop out, their supporters will generally flock to one of the four non-Biden frontrunners.
  2. He doesn’t hate rich people. The New Democratic Party hates rich people even if many of them are among the wealthy. But Biden doesn’t hate them and even said today, “Rich people are just as patriotic as poor people.” Statements like that do not abide by the socialists in the race, nor will it resonate with the increasing number of socialists among Democratic primary voters.
  3. His team can’t protect him from his gaffes forever. His campaign has done and will continue to do everything they can to keep him out of the spotlight, away from questions, and off any radar other than prepared statements and press releases. They can’t afford his gaffes, but he’s going to have to come out at some point. He has to debate. He has to give speeches and answer questions that aren’t always prepared. And when he does, he’s going to deliver gaffes. That’s what he does.
  4. Switching positions will hurt, not help. The Hyde Amendment reversal was just one in a long string of reversals he has made and will make on old policy perspectives. That’s the problem with being a politicians for so many decades. As the party evolves, which it is doing rapidly now, he’s going to have to backtrack on old ideas. But doing so will not help him. In the eyes of voters, especially passionate primary voters, evolution of perspectives is not a positive. It reveals a willingness to do and say things that go with the crowd instead of coming from the gut. It also won’t make the original complainers happy. You won’t see those criticizing him for his initial Hyde Amendment support suddenly promote him after he changed his mind.
  5. He’s an old straight white guy. This isn’t the party for old straight white guys. This also means Sanders is in deep trouble as well.
  6. The Justice Democrats will sink him. They’ve already started going after him with devious ploys. They will continue do everything in their power keep him off the general election ticket. It isn’t just because he isn’t radical enough for them. He represents the old version of the party that the Justice Democrats despise.
  7. He doesn’t really want it. If Biden wanted to be president, he would have run in 2016. Some say he needed a break, but those who truly want something as significant as winning the White House don’t come to that conclusion at 76. It’s part of them. However, they can decide later they no longer want to be president, and I believe that’s where Biden is today. I think he was pushed into running because the alternatives were radicals who will either lose to Trump or fundamentally transform America in a very bad way if they win. But his personal desire doesn’t seem to be there anymore. It was, but that flame is gone.

The coming political death of Joe Biden is the symbolic end of the old Democratic Party, the one that worked with Reagan and Bush, the one that wasn’t comprised of politicians who hate America.

We are currently forming the American Conservative Movement. If you are interested in learning more, we will be sending out information in a few weeks.

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