On The Warpath Against Capitalism, Without Reservation

Former American Indian, Senator Elizabeth Warren, is offering our citizens the unrequested opportunity to fundamentally transform Capitalism, in the same way the last president decided to “fundamentally transform America,” only this time with even more long-term national systemic carnage, than the incredible damage done by that anti-America guy. Yep, truthful Liz is convinced that our capitalistic system is mal-functioning, and needs the touch of her delicate sledgehammer to correct it.  So, with political bow and poison-tipped arrows in hand, on the disruptive warpath she intends to go.

We’ve heard it all before, but she has renewed the concern that our free-enterprise system, the finest the world has ever known, just isn’t fair to everybody, except, of course, those talented, but evil, men and women at the top (the vast majority, of whom, had to climb to get there!), and, as such, the once-indigenous Senator says our centuries-old, super-successful system needs fixin’.

She is proposing a House bill, titled the Accountable Capitalism Act, which, not surprisingly, is pro-Government, pro-worker, and pro-union (follow the money), while damning corporate control and corporate profits, the individual investment dividends from which either enhance or sustain the retirement life of millions of Americans for whom monthly Social Security checks aren’t enough, especially for our very oldest, non-pension, pre-401(k) seniors.

Some of her reportedly proposed specific actions, should she (heaven forbid) become President, along with a Socialist-Lib-controlled House and Senate (heaven forbid II) include: “Regulate big tech companies as utilities (i.e., strict profit control via state/federal government regulations); break up big banks (investors beware); ban fracking of oil and gas (making us foreign fuel-dependent again); phase out carbon emissions (100% by 2035!), from buildings, cars and power plants” (implausible due to cost and renewables won’t fully substitute by then (note: no mention of that Representative-suggested ban on aircraft emissions, due, likely, to tepid enthusiasm by travelers for solar-power commercial flight, given the cloud factor); ban private health insurance (Government-run Medicare-For-All, including illegals, which would create huge new costs in the billions, increasing every year); and, apparently she would also ban for-profit colleges” (deep-sixing even those doing credible skills training work?).

Higher and higher taxes, corporate as well as individual, would be required to pay for all of this, merely a Socialist starter list.  For instance, Americans generating annual income of $250,000 or higher, would find that her suggested federal income tax jumping to 14.8% !  For super big money makers, taxes through the roof, all of which could certainly work to de-incentivize success, both for individuals and companies.

One other “President” Warren (sorry!) proposed policy: the largest American companies would be required to have 40% “worker” representation on their corporate boards, giving more power to employees and, where applicable, employee unions.

Much of this was apparently triggered by a recent national Business Roundtable meeting (major business chief executives), where it was agreed, going forward, “to put ‘stakeholders’ ahead of ‘stockholders’ as their primary business purpose.”  Mrs. Warren took that to mean that top CEO’s, collectively, were “endorsing her grand design to re-make American capitalism.”

Her intended “re-make” stabs at the very heart of our capitalistic system. It’s all about greatly increased federal government control (or outright take-over) over business, through the restoration of, and doubtless increase in, onerous regulations, which always add to the cost of products and services, inevitably increasing the costs to consumers. Her intent, also, is to include considerably more “worker” input at the highest level (read: union input), ultimately impacting how companies operate. Karl Marx is smiling.

No question, Senator Warren apparently wants to drastically alter Capitalism, the very system, now under enlightened presidential leadership, that has brought to our free society and work-world, unemployment at a fifty-year low, generating wage increases, as workplace demand outpaces supply, while creating dramatically increased employment for America’s minority workers, creating for the first time in a very long time, greater opportunities for all.  Thus, the best economic system in the world “works.”

To preserve the invaluable contributions of traditional Capitalism, and to continue this current era of wide-spread economic prosperity, with non-Socialist-imposed compensation related, instead, directly to individual skill, productivity, and demand, now reaching all sectors of our society, whether you like everything about him or not, next November, vote what’s best for our America, vote common sense, Vote Trump!!

(Warren proposed regulations and cuts, Wall Street Journal, Greg Ip, 10-10-19;  Business Roundtable announced policy and Warren assumed endorsement, Wall Street Journal, Editorial Board, 10-7-19).