Warren and the Divine Right of Capital: Accountable Capitalism Act

Discussion in 'Politics' started by georgephillip, Oct 22, 2019.

  1. georgephillip
    Online

    georgephillip Platinum Member Supporting Member

    Joined:
    Dec 27, 2009
    Messages:
    32,624
    Thanks Received:
    1,754
    Trophy Points:
    1,125
    Location:
    Los Angeles, California
    Ratings:
    +5,307
    [​IMG]
    How do you square this circle: The structure and legal basis of the modern MAGA corporation bears a great deal of resemblance to feudal estates, and this reality is at odds in an era that claims to value democracy over the Divine Right of Kings?

    Warren has a plan:


    Accountable Capitalism Act - Wikipedia

    "The Accountable Capitalism Act, 115th Congress (2017-2018) S. 3348 is a proposed federal bill introduced by Senator Elizabeth Warren in August 2018.

    "It would require that employees elect 40% of a board of directors of any corporation with over $1 billion in tax receipts, and that 75% of shareholders and directors must approve any political spending.

    "Corporations with revenue over $1 billion would be required to obtain a federal corporate charter.

    "The Act contains a 'constituency statute' that would give directors a duty of 'creating a general public benefit' with regard to a corporation's stakeholders, including shareholders, employees, and the environment, and the interests of the enterprise in the long-term.[1]"

    The US is among a minority of OECD countries that gives no representation to the workforce (majority) in corporate governance.

    For years Warren has claimed "corporations are not people."

    Now her Accountable Capitalism Act demands that corporations that claim the legal rights of personhood should be legally required to accept the moral obligations of personhood.
     
    • Funny Funny x 8
    • Agree Agree x 1
    • Winner Winner x 1
    • Informative Informative x 1
  2. Third Party
    Offline

    Third Party Gold Member

    Joined:
    Jan 1, 2019
    Messages:
    7,556
    Thanks Received:
    616
    Trophy Points:
    255
    Ratings:
    +3,811
    I owned a business once and decided who did what. If I had to share decision making,I would sell the business. Being boss is one reason you risk your money AND do extra for your workers.
     
    • Winner Winner x 10
    • Thank You! Thank You! x 3
    • Agree Agree x 3
  3. TNHarley
    Offline

    TNHarley Diamond Member

    Joined:
    Sep 27, 2012
    Messages:
    64,332
    Thanks Received:
    9,486
    Trophy Points:
    2,030
    Ratings:
    +65,850
    Everything she says involves big govt.
    She is the arch nemesis of our constitution.
    Fucking totalitarian.
     
    • Agree Agree x 13
    • Thank You! Thank You! x 2
    • Funny Funny x 2
    • Funny and Agree!! Funny and Agree!! x 1
  4. Oddball
    Offline

    Oddball Unobtanium Member Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    57,492
    Thanks Received:
    12,255
    Trophy Points:
    2,190
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +41,452
    Why not stop all the pretense and just have The State take over all business?

    It's already clear that you and Princess Lying Rug are Marxists, so just be done with it.
     
    • Funny and Agree!! Funny and Agree!! x 15
    • Winner Winner x 3
    • Funny Funny x 2
  5. Norman
    Offline

    Norman Gold Member

    Joined:
    Sep 24, 2010
    Messages:
    18,913
    Thanks Received:
    3,111
    Trophy Points:
    280
    Ratings:
    +21,067
    She would do well in Venezuela.
     
    • Agree Agree x 5
    • Funny and Agree!! Funny and Agree!! x 1
  6. Maxdeath
    Offline

    Maxdeath Gold Member

    Joined:
    Jun 12, 2018
    Messages:
    3,039
    Thanks Received:
    640
    Trophy Points:
    255
    Ratings:
    +3,545
    Love that idea of those working being allowed to elect the heads of companies. We all like George, he can't add two plus two but he would be great management though because he always let's us take time off to golf.
     
    • Funny Funny x 2
    • Winner Winner x 1
  7. georgephillip
    Online

    georgephillip Platinum Member Supporting Member

    Joined:
    Dec 27, 2009
    Messages:
    32,624
    Thanks Received:
    1,754
    Trophy Points:
    1,125
    Location:
    Los Angeles, California
    Ratings:
    +5,307
    How many employees did you exploit?
    What was your revenue?

    The Divine Right of Capital by Marjorie Kelly: A Summary

    "Capital Income + Retained earnings = Revenue – (Employee income + Cost of materials)

    "Kelly uses some simple algebra to show that this formula could just as easily be re-written as:

    "Employee income + Retained earnings = Revenue – (Capital income + Cost of materials)

    "In other words, the company could just as easily be optimized to maximize employee income."
     
    • Funny Funny x 1
    • Informative Informative x 1
  8. Norman
    Offline

    Norman Gold Member

    Joined:
    Sep 24, 2010
    Messages:
    18,913
    Thanks Received:
    3,111
    Trophy Points:
    280
    Ratings:
    +21,067
    Why not just outright give the share's of the shareholders to the employees?
     
    • Thank You! Thank You! x 1
  9. Toddsterpatriot
    Offline

    Toddsterpatriot Diamond Member

    Joined:
    May 3, 2011
    Messages:
    53,442
    Thanks Received:
    6,522
    Trophy Points:
    1,830
    Location:
    Chicago
    Ratings:
    +29,427
    "It would require that employees elect 40% of a board of directors of any corporation with over $1 billion in tax receipts, and that 75% of shareholders and directors must approve any political spending.


    Sounds great! And then readers/viewers can elect 40% of boards for media companies and the support of 75% of readers/viewers would be needed before running any political stories.

    "In other words, the company could just as easily be optimized to maximize employee income."

    Employees are free to implement this plan at any company they own.
     
    • Thank You! Thank You! x 1
    • Winner Winner x 1
  10. Norman
    Offline

    Norman Gold Member

    Joined:
    Sep 24, 2010
    Messages:
    18,913
    Thanks Received:
    3,111
    Trophy Points:
    280
    Ratings:
    +21,067
    She was not smart enough to get into college using honest means, but now pretends she is smarter than all business owners combined.

    And it wasn't even a business degree she cheated an Indian for...
     
    • Winner Winner x 2
    • Agree Agree x 1

Share This Page