Friday, August 17, 2018

Senator Warren: The Accountable Capitalism Act

She's proposed this in the Senate. If corporations have the legal rights of personhood then they should be held accountable like a person. This Act would require the biggest corporations (revenue over $1 billion) to have a charter of corporate citizenship. It demands that corps take account of all stakeholders, including customers, employees and their communities. Workers would elect 40% of Board members. Political activity would need 75% of shareholder and 75% of Board approval. It would limit corporate executives ability to sell their stocks to dis disincentivize stock buybacks.

Of course we'll need to elect progressives to Congress, as the corporatists in both Parties will never go for it. It is a good rallying election point though, something that most Americans would support and demand. You can see the proposed Bill here.

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