Profile picture
Elizabeth Warren @SenWarren
, 5 tweets, 3 min read Read on Twitter
My big new bill, the Accountable Capitalism Act, would restore the idea that big American companies should look out for their workers, not just their shareholders. Why do we need to pass this bill? Just look at what’s happened since the #GOPTaxScam passed. vox.com/2018/8/2/17639…
The #GOPTaxScam showered more than a trillion dollars on big American corporations – a huge windfall for wealthy shareholders and executives. But workers have seen their real wages go DOWN. washingtonpost.com/news/wonk/wp/2…
Let’s look at some individual companies: @WellsFargo got a $3.4 billion boost from the #GOPTaxScam. It turned around and announced plans to close 900 branches, while rewarding executives and shareholders with tens of billions of dollars in stock buybacks.
.@KCCorp will dole out $700-900 million in stock buybacks to help shareholders & executives while cutting up to 5,500 jobs. @Kroger is closing 14 stores & laying off more than 1,600 people while rewarding its corporate execs & shareholders with $1.2 billion in stock buybacks.
For decades, big companies have made record profits while wages for working families haven’t budged. It didn’t use to be this way. We built America's middle class after WWII. We can get back to the time when American companies & workers did well together. newrepublic.com/article/150695…
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Elizabeth Warren
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Related hashtags

#GOPTaxScam

More from @SenWarren see all

Profile picture
For decades, leaders of both parties preached the gospel that free trade was a rising tide that would lift all boats. Great rhetoric – except that the trade deals they negotiated mainly lifted the yachts – and threw millions of working Americans overboard to drown.
There’s no question we need to renegotiate NAFTA. But as it’s currently written, Trump’s deal won’t stop the serious and ongoing harm NAFTA causes for American workers. It won’t stop outsourcing, it won’t raise wages, and it won’t create jobs. It’s NAFTA 2.0.
I oppose NAFTA 2.0, and I will vote against it in the Senate unless @realDonaldTrump reopens the agreement and produces a better deal for America’s working families.
Read 27 tweets
Profile picture
Exhibit #237 of why anyone running for federal office should have to disclose their tax returns. Congress needs to pass my legislation to #EndCorruptionNow, which would force candidates (and @realDonaldTrump) to make their tax returns public. nyti.ms/2P6S6mK?smid=n…
.@realDonaldTrump was the 1st presidential candidate in 40 years not to make his tax returns public. Maybe because he got over $400M from his dad to start out & probably committed tax fraud. @nytimes’ reporting is likely just the tip of the iceberg – what else is he hiding?
If @realDonaldTrump was willing to go to such incredible lengths to hide how he really “made” his fortune – what’s stopping him now from bilking the presidency and American taxpayers for everything they’re worth?
Read 6 tweets
Profile picture
Rural housing in the US is falling apart. Decades of federal discrimination have excluded generations of Blacks from homeownership. Housing costs for everyone, everywhere, are skyrocketing – while America's wealthiest families shield billions from taxes. I have a plan to fix it.
I’m introducing the American Housing & Economic Mobility Act to build 3 million new homes in 10 years, bring down monthly rents by 10%, & create 1.5 million jobs. By asking 10k of the richest families to pay their fair share, it doesn’t add to the deficit. warren.senate.gov/imo/media/doc/…
My new bill:
✅Makes record investments to build homes including in rural areas.
✅Gets localities to scrap zoning rules that make housing more expensive.
✅Helps first-time homebuyers in formerly redlined areas.
✅Offers relief to families still struggling after the 2008 crash.
Read 4 tweets

Related threads

Profile picture
1. Socialism: Democrats' Fatal Attraction
A recent Gallup Poll showed that more Democrats have a positive view of socialism — 57% — than of capitalism — 47%. This is a first in Gallup's history. The Democratic Party is a de facto socialist party today.
2. Democratic Party seems to be having a fling with socialism right now. Guided by far-left leading lights such as socialist Sen. Bernie Sanders, Sen. Elizabeth Warren and DNC Chairman Tom Perez, the party's moving to the hard left.
3. The latest example of this is Warren's proposed "Accountable Capitalism Act," a plan for what can be politely called a federal takeover of the U.S. economy. This is no joke.
Read 27 tweets
Profile picture
💥Thread: Warren Introduces Accountable Capitalism Act
Comprehensive Legislation to Eliminate Skewed Market Incentives and Return to the Era When American Corporations and American Workers Did Well Together
warren.senate.gov/imo/media/doc/…
1. Requires very large American corporations to obtain a federal charter as a "United States corporation," which obligates company directors to consider the interests of all corporate stakeholders: American corporations with more than $1 billion in annual revenue must obtain a 2/
federal charter from a newly formed Office of United States Corporations at the Department of Commerce.
•Empowers workers at United States corporations to elect at least 40% of Board members
•Restricts the sales of company shares by the directors and officers of
US corporations
Read 21 tweets
Profile picture
Is Twitter still debating co-determination? If so, here's 1500 words from me in National Review: nationalreview.com/2018/08/elizab…
America's corporate governance model, whatever its other flaws, is extremely good creating fast growing, fast scaling firms. It's a big reason the US is home to 2/3rds of the worlds billion dollar private companies and about 50% of the billion dollar tech start-ups, or unicorns.
Warren's "Accountable Capitalism Act" would force all billion dollar revenue companies to have 40% employee representation on the board. $billion rev =/= $billion market cap, but this would nonetheless represent a shake-up in how many of America's unicorns are governed.
Read 19 tweets
Profile picture
Three commonly held but untrue views seem to nicely summarize this "report":
1. Selling your goods below cost is a success strategy
2. Being "big" means you cannot be disrupted
3. Government wants to save us from "market power"
#1 only produces a return if one can then raise prices and still sell big volumes *and* no one else can enter the market. How can firms "protect" their staked-out market space? Without government privilege there's only one way: by offering goods of higher quality at lower prices.
So to be successful, either the firm produces better goods or they're more efficient (lower cost). Neither is much of a problem for consumers. And if they charge prices above what consumers think it's worth, both the good itself and the purchasing power of their money, they fail.
Read 13 tweets
Profile picture
THREAD

#CambridgeAnalytica #Russia ties.
1.Alexander Kogan a #CambridgeUniversity academic, who orchestrated harvesting #Facebook data, is tied to a #Russian University and had grants for researching into social media networks.
2.Alexander Kogan harvested the data in cooperation with #CambridgeAnalytica.
Read 81 tweets
Profile picture
Oh well, watching the Senate hearing on fake news online, @mannypacquiao just mentioned @cocoy ! Kapag bobo talaga madaling ma-fake news 😂
.@iMthinkingPinoy just mentioned @MadamClaudiaAko , @cocoy @SilentNoMorePH
Nieto ( @iMthinkingPinoy ): Mainstream media needs to be introspective bec real news are minsan sobrang sabog.
Read 81 tweets

Trending hashtags

#EnjoyTheShow #DavidBrock #London #Moscow #TrumpKim #QAnin #SLC #FakeNews #America #PA #AlfaBank #QProofs #Soviet #Weaponizing #SCL #SeniorExectiveService #WeLoveOurMilitary #Americans #OnTopic #American #Firtash #MikhailFridman #TrumpKimSummit #BusinessPlan #Manafort

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!