- Dec 27, 2009
- Reaction score
- Los Angeles, California
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."
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.