Posted on 11/12/2019 7:27:17 AM PST by ChicagoConservative27
In an attempt to distinguish herself from her “establishment” colleagues, Elizabeth Warren has embraced the rhetoric of class warfare, singling out allegedly the “ultra-rich” as the subject of her perpetual ire. In the same vein as Bernie Sanders, Warren has adopted a punishing tone when discussing American corporations, so much so that she has constructed entire legislation centered upon restructuring incentives within the stock market in order to “produce broad-based growth that help[s] workers and shareholders alike.”
There’s only one problem with this narrative. Warren’s proposed legislation to rein in corporate governance practices — predictably named the “Accountable Capitalism Act” — likely would torpedo retirement savings, punishing everyday Americans for the alleged sins of nebulous corporate overlords.
(Excerpt) Read more at thefederalist.com ...
There will never be a Gray Beaver Presidency. If elected, the resulting war will see she is never given the oath of office
So, retirement funds will be safe? At least from her. Surely the congressional duh-mi-crats are still eyeing them with bad intent. (Tx to jethro tull)
The communists are broke and running out of “other peoples” money fast.
They now only have two large resources left to go for:
The trillions in taxes, fees, etc. brought about by global warming legislation, or the confiscation of trillions of retirement dollars.
They’re drooling over doing both!!!
Good article, thanks. I’ll quote an important paragraph:
‘Additionally, Warren’s plan calls for 40 percent of a given company’s board members to be elected by the employees, another strange modification, considering that a company’s board members are supposed to represent the interests of the shareholder. Matt Yglesias performed an analysis of how this voting schema might affect stock value, since Germany already engages in a similar practice called “codetermination.” Unsurprisingly, under Warren’s Accountable Capitalism Act, Yglesias found that stock prices could drop as much as 25 percent. And given retirement plans are bottled up in the stock market, it’s hard to imagine a world in which retirees wouldn’t feel this precipitous drop’
Warren proposes making the corporate boards responsible for answering to the community and stakeholders instead of to shareholders. Obviously this is silly (there won't be shareholders any more under this model) but the question of how you demonstrate you are taking the interests of these vague entities is quite simple: this is a leftist plan so obviously you just give money, lots of it, to left wing activist groups and they sign off that you did your part for the community and other interests. It's a shakedown, as all leftwing plans are ultimately.
If Elizabeth Warren is the President, your retirement funds will be the least of your concerns.
It was Shylock who cried, “O my ducats, O my daughter!” as if they were equivalent.
We hopefully are better at prioritizing.
Socialism and Communism should be banned from the US. Banned. You can never, ever, ever trust Marxists of ANY stripe.
We have prided ourselves as being unafraid of having ‘alternative’ socioeconomic/political systems on the ballot, as we have always had confidence that our system was best and that our voters would never vote for socialism/Communism. The problem is that the leftists/Marxists have been using that opening, along with pushed selective immigration (legal and illegal) from socialist-leaning countries, and indoctrination in our education system to push socialism/Marxism. These types of people are way too dangerous to allow them even the opportunity.
That’s just my take, but I am very worried for our nation.
I'd make an exception for public companies where an individual is a majority shareholder (i.e. owns 51% or more of the stock). The founder of the company, basically, can run it totally. But once its turned over to various third parties, the board are the ones who represent the shareholders and they hire/fire staff. Staff cannot control them or nobody ever gets fired until scandal or ruin happen.
If you need someone to tell you how devastating a Warren presidency would be to retirement accounts, you likely don’t have much in any account.
If the angry feminist abortionist marxist biytch thinks you have too much saved, she’ll take it and call it a tax.
Under this type of ‘rule’...I’d go and dump all US stock that I own, buy into bonds, and just wait for her presidency to ‘end’. There’s probably a 3,000 point drop in the DOW with Warren.
Also Gen. 43:18—Joseph’s brothers are afraid that the Egyptians will make them slaves, and take their donkeys too.
So, retirement funds will be safe?
Sure. Your 401k will be safe.
Just don’t expect to collect social security if you’re one of the “richy riches” who planned for retirement.
See: Australia
Warren would end social security as we know it - once that gets out in a campaign she’s toast.
Got news for yinz.
If Democrats win....ANY Democrat.....your retirement funds are toast anyway.
Google “Teresa Ghilarducci” and you’ll know why.
Maybe she can tax retirement funds based on imputed wealth. What if I have a government retirement paying me $100,000 a year. What is the imputed wealth of this retirement? What amount of money is necessary to pay me $100,000 a year? Maybe she can tax that too? The possibilities are endless.
“See: Australia” Oops. For a second there I thought you were a travel agent. LOL!
LOL! Nicely done.
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