Elizabeth Warren's Accountable Capitalism Act: 2 of 2: "...so essentially it is a de facto nationalization of every corporation in the United States..." @RichadAEpstein @HooverInst

Aug 25, 03:47 AM

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Elizabeth Warren's Accountable Capitalism Act: 2 of 2: "...so essentially it is a de facto nationalization of every corporation in the United States..." @RichadAEpstein @HooverInst

https://www.hoover.org/research/elizabeth-warrens-surreptitious-socialism

Senator Elizabeth Warren has long been openly contemptuous of American business. She proved it yet again last week by publishing a dangerous and uninformed screed in the Wall Street Journal outlining a proposal that, if implemented, will shake markets to their roots. Like many proposals for radical reform, her Accountable Capitalism Act would destroy the institution she says she wants to save. The bill’s central provision tells the whole story: all corporations whose annual revenues exceed $1 billion dollars would be required to receive a federal corporate charter to remain in business. Those charters will come with conditions attached, to force corporations to pay due attention not just to their shareholders, but to their employees, suppliers, and their local communities…