Bernie Sanders Takes Aim at Wealth—and Warren

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  • #186041

    eridani
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    @eridani

    https://newrepublic.com/article/155360/bernie-sanders-takes-aim-wealthand-warren

    In response to Karl, though, Sanders made reference to a comment from Warren last year “I think she is a very, very good Senator,” Sanders replied. “But there are differences between Elizabeth and myself. Elizabeth, I think, as you know, has said that she is a capitalist through her bones. I’m not.”

    While Sanders, a self-described democratic socialist, has rarely contrasted himself with Warren this directly, his staunchest supporters have spent the past several months working to establish a clear ideological dichotomy between the two. It has not been easy. Behind the labels they have applied to themselves, Sanders and Warren have both spent the campaign promising to curb inequality and fight corruption, naming the greedy enemies of a fair economy on Wall Street and in Silicon Valley, and taking inspiration from the New Deal and Franklin Delano Roosevelt, hero of progressive capitalism.

    Over the past few months, though, Sanders and Warren’s domestic policy agendas have diverged substantially on key issues. In late September, for instance, the Sanders campaign met Warren’s already ambitious proposal for a wealth tax on households worth at least $50 million with a more aggressive, multi-bracketed plan that could halve the wealth of American billionaires in 15 years. Both campaigns have also recently offered elaborate, but differing proposals on labor rights. But for all the substantive differences that have emerged, the Sanders and Warren policy visions have both been couched within the existing economic confines of capitalism, a system in which a particular non-laboring class owns and manages capital and is thereby empowered to make decisions in the economy, as opposed to workers, who would direct the economy under socialism.

    That changed Monday morning, when the Sanders campaign released its “Corporate Accountability and Democracy” platform. The document includes a long slate of proposals that tread familiar ground on issues including anti-trust policy and corporate taxation. But its centerpiece is an idea that is not only radically new to this particular Democratic primary, but to contemporary American politics. Sanders has proposed having American corporations with $100 million or more in annual revenue and all publicly traded companies transfer at least 2 percent of their stock per year to their employees, until 20 percent of every such company is owned by workers. Those shares, which would grant workers corporate voting rights and entitle them to stock dividends, would be held in Democratic Employee Ownership Funds managed by trustees elected by workers.

    The two most common substances in the universe are hydrogen and stupidity.

  • #186048

    eridani
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    @eridani

    To Tackle Ills of ‘Unfettered Capitalism,’ Sanders Plan Would Give Workers Seats on Corporate Boards and Reverse Trump Tax Cuts

    https://www.commondreams.org/news/2019/10/14/tackle-ills-unfettered-capitalism-sanders-plan-would-give-workers-seats-corporate

    Taking aim at the vast inequities produced by America’s business-dominated economic system, Sen. Bernie Sanders on Monday unveiled a far-reaching proposal that would roll back President Donald Trump’s tax cuts and transfer more power to U.S. workers by giving them seats on corporate boards and ownership shares in their companies.

    “The establishment tells us there is no alternative to unfettered capitalism, that this is how the system and globalization work and there’s no turning back. They are dead wrong,” Sanders, a 2020 Democratic presidential candidates, writes on his website. “The truth is that we can and we must develop new economic models to create jobs and increase wages and productivity across America.”

    “Instead of giving huge tax breaks to large corporations that ship our jobs to China and other low-wage countries, we need to give workers an ownership stake in the companies they work for, a say in the decision-making process that impacts their lives, and a fair share of the profits that their work makes possible in the first place,” said the Vermont senato

    Peter Gowan, senior policy associate at the Democracy Collaborative, a left-wing think tank, told Vox that “this is the most ambitious plan on corporate ownership ever put out by a presidential candidate.”

    “[This is] giving real bones to Sanders’s vision of democratic socialism,” said Gowan.

    The two most common substances in the universe are hydrogen and stupidity.

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