Senator Warren is pushing “accountable capitalism.”
Will what she has in mind actually just lead to more crony capitalism? Here is a hint. She doesn’t like CEO’s getting so much from stock options. But that happened BECAUSE of federal legislation under Clinton that capped CEO cash compensation. Buyer Beware on this program.
In her Op-Ed in this Wednesday’s Wall Street Journal, Senator Elizabeth Warren proposed The Accountable Capitalism Act – new federal legislation requiring corporations to consider the interests of employees and other stakeholders as well as shareholders.
Warren’s article is filled with erroneous claims, charging that “since 1985 (corporations) have extracted almost $7 trillion” in profits, instead of investing in workers. In fact, corporate investment levels are at an historic high in 2018, which is spurring the growth of the U.S. economy.