Warren and the Divine Right of Capital: Accountable Capitalism Act

georgephillip

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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.
 

Third Party

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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.
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.
 

TNHarley

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Everything she says involves big govt.
She is the arch nemesis of our constitution.
Fucking totalitarian.
 

Norman

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She would do well in Venezuela.
 

Maxdeath

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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.
 
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georgephillip

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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.
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.
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.
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."
 

Norman

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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.
Why not just outright give the share's of the shareholders to the employees?
 

Toddsterpatriot

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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.
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.
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.
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."
"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.
 

Norman

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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.
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.
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.
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."

"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.
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...
 
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georgephillip

georgephillip

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Everything she says involves big govt.
She is the arch nemesis of our constitution.
Fucking totalitarian.

She's read the Constitution.
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Accountable Capitalism Act - Wikipedia

"Section 3 of the Act would establish an 'Office of United States Corporations', with a director appointed by the President on consent of the Senate, at the Department of Commerce to grant charters to large federal corporations, and monitor compliance with the Act's requirements.

"Section 4 requires corporations with over $1 billion in tax receipts to obtain a federal charter.

"Section 5(b)(2) requires US corporations to have the purpose of 'creating a general public benefit', while section 5(c) requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term."
 

Toddsterpatriot

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Everything she says involves big govt.
She is the arch nemesis of our constitution.
Fucking totalitarian.

She's read the Constitution.
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Accountable Capitalism Act - Wikipedia

"Section 3 of the Act would establish an 'Office of United States Corporations', with a director appointed by the President on consent of the Senate, at the Department of Commerce to grant charters to large federal corporations, and monitor compliance with the Act's requirements.

"Section 4 requires corporations with over $1 billion in tax receipts to obtain a federal charter.

"Section 5(b)(2) requires US corporations to have the purpose of 'creating a general public benefit', while section 5(c) requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term."
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Warren deciding what are "moral obligations" is a problem for me.

requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term

Every liberal who feels this way should definitely run their own corporations that way.
If they own 100% of the stock, they make 100% of the decisions.
 

Third Party

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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.
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.
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.
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."
None and none of your business-obviously you don't understand a good employer employee relationship.
 
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georgephillip

georgephillip

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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.
What's your problem with bringing democracy (not the state) to the workplace?

Accountable Capitalism Act - Wikipedia

"With the Reward Work Act, the Accountable Capitalism Act is the second recent proposal to give employees a right to elect representatives on a company board of directors.

"The United States is in a minority of countries in the Organisation for Economic Co-operation and Development that gives no representation of the workforce in corporate governance.[2]

"The Bill's explanatory document states that it seeks to borrow 'from the successful approach in Germany and other developed economies', by introducing that right."
 

Norman

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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.
What's your problem with bringing democracy (not the state) to the workplace?

Accountable Capitalism Act - Wikipedia

"With the Reward Work Act, the Accountable Capitalism Act is the second recent proposal to give employees a right to elect representatives on a company board of directors.

"The United States is in a minority of countries in the Organisation for Economic Co-operation and Development that gives no representation of the workforce in corporate governance.[2]

"The Bill's explanatory document states that it seeks to borrow 'from the successful approach in Germany and other developed economies', by introducing that right."
US is not a democracy.

A corporation is certainly not a democracy.
 

Toddsterpatriot

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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.
What's your problem with bringing democracy (not the state) to the workplace?

Accountable Capitalism Act - Wikipedia

"With the Reward Work Act, the Accountable Capitalism Act is the second recent proposal to give employees a right to elect representatives on a company board of directors.

"The United States is in a minority of countries in the Organisation for Economic Co-operation and Development that gives no representation of the workforce in corporate governance.[2]

"The Bill's explanatory document states that it seeks to borrow 'from the successful approach in Germany and other developed economies', by introducing that right."
What's your problem with bringing democracy (not the state) to the workplace?

Why would I let non-owners vote on my company's actions?

That would be like you letting the lawn guy and the garbage man vote on the color you paint your house...hypothetically, if you ever moved out of your Mom's basement.
 

The Original Tree

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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.
If you don't like Capitalism, sell your computer and delete your USMB account.

 
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georgephillip

georgephillip

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Everything she says involves big govt.
She is the arch nemesis of our constitution.
Fucking totalitarian.

She's read the Constitution.
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Accountable Capitalism Act - Wikipedia

"Section 3 of the Act would establish an 'Office of United States Corporations', with a director appointed by the President on consent of the Senate, at the Department of Commerce to grant charters to large federal corporations, and monitor compliance with the Act's requirements.

"Section 4 requires corporations with over $1 billion in tax receipts to obtain a federal charter.

"Section 5(b)(2) requires US corporations to have the purpose of 'creating a general public benefit', while section 5(c) requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term."
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Warren deciding what are "moral obligations" is a problem for me.

requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term

Every liberal who feels this way should definitely run their own corporations that way.
If they own 100% of the stock, they make 100% of the decisions.
Every liberal who feels this way should definitely run their own corporations that way.
If they own 100% of the stock, they make 100% of the decisions.
Who does most of the work?

The Divine Right of Capital by Marjorie Kelly: A Summary

"Chapter 2: Lords of the Earth

"The Principle of Privilege:
Stockholders claim wealth they do little to create, much as nobles claimed privilege they did not earn.


"'If equality under the law is the hallmark of democracy, privilege sanctioned by law is the hallmark of aristocracy.'

"Just as feudal lords extracted wealth from serfs on their lands, today’s aristocracy does the same with corporations. Privilege – the right of the aristocracy – is 'a right to income detached from productivity.'"
 

The Original Tree

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Everything she says involves big govt.
She is the arch nemesis of our constitution.
Fucking totalitarian.

She's read the Constitution.
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Accountable Capitalism Act - Wikipedia

"Section 3 of the Act would establish an 'Office of United States Corporations', with a director appointed by the President on consent of the Senate, at the Department of Commerce to grant charters to large federal corporations, and monitor compliance with the Act's requirements.

"Section 4 requires corporations with over $1 billion in tax receipts to obtain a federal charter.

"Section 5(b)(2) requires US corporations to have the purpose of 'creating a general public benefit', while section 5(c) requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term."
Her ACA would require corporations that claim the legal right of personhood to accept the moral obligations of personhood.
What's your problem with that?


Warren deciding what are "moral obligations" is a problem for me.

requires that directors have a duty to consider the interests of shareholders, employees (including of subsidiaries and suppliers), customers, the community, environment, and the long-term

Every liberal who feels this way should definitely run their own corporations that way.
If they own 100% of the stock, they make 100% of the decisions.
Every liberal who feels this way should definitely run their own corporations that way.
If they own 100% of the stock, they make 100% of the decisions.
Who does most of the work?

The Divine Right of Capital by Marjorie Kelly: A Summary

"Chapter 2: Lords of the Earth

"The Principle of Privilege:
Stockholders claim wealth they do little to create, much as nobles claimed privilege they did not earn.


"'If equality under the law is the hallmark of democracy, privilege sanctioned by law is the hallmark of aristocracy.'

"Just as feudal lords extracted wealth from serfs on their lands, today’s aristocracy does the same with corporations. Privilege – the right of the aristocracy – is 'a right to income detached from productivity.'"
Actually I was wrong when I told you to sell you computer and delete your USMB account if you did not like capitalism.

You should give your PC away to an unfortunate conservative with a MAGA hat who cannot afford one, then delete your account and find a short pier to take a long walk off of.
 

Maxdeath

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Got to love how those who do not understand the basics of economics always think they not only understand business but should have a say in the way business is run. Chances are they cant even handle a checkbook correctly.
 

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