Bernie's Corporate Accountability and Democracy Plan
Well, the MSM isn't discussing it much aside from a scare diss here and there, but Bernie has once again made history with a new far-reaching landmark plan for Corporate Accountability and Democracy designed to shift ownership and control of the US economy away from the very affluent and towards workers and the public.
Going into the debate tonight, Bernie is also now clearly taking jabs at his "capitalist to the bones" opponent Elizabeth Warren:
"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. I am I believe the only candidate who's going to say to the ruling class of this country, the corporate elite, enough, enough with your greed and with your corruption. We need real change in this country. I mean, Elizabeth considers herself, if I got the quote correctly, to be a 'capitalist to her bones.' I don’t. And the reason I am not is because I will not tolerate for one second the kind of greed and corruption and income and wealth inequality and so much suffering that is going on in this country today, which is unnecessary."
He's Back and Bolder than Ever!
Through Bernie's amazingly detailed Corporate Accountability and Democracy Plan, Bernie vows to fight to "give workers an ownership stake in the companies they work for, break up corrupt corporate mergers and monopolies, and finally make corporations pay their fair share."
Here's just a couple small slices of Bernie's agenda:
Share Corporate Wealth with Workers:
Under this plan, corporations with at least $100 million in annual revenue, corporations with at least $100 million in balance sheet total, and all publicly traded companies will be required to provide at least 2 percent of stock to their workers every year until the company is at least 20 percent owned by employees. This will be done through the issuing of new shares and the establishment of Democratic Employee Ownership Funds.
These funds will be under the control of a Board of Trustees directly elected by the workforce. Employees will be guaranteed payments from the funds equivalent to their shares of ownership as equal partners in the funds.
Workers will be guaranteed the right to vote the shares given to them through this plan. The funds will enjoy the same voting rights as any other institutional shareholder and their shares will not be permitted to be transferred or sold. Instead, they will be held permanently in trust for the workforce. Dividend payments will be made from the Funds directly to employees.
According to the most recent statistics, 56 million workers in over 22,000 companies in America would benefit under this plan.An estimate based on data from over 1,000 companies shows that directing 20 percent of dividends to workers could provide an average dividend payment of over $5,000 per worker every year.
Democratize Corporate Boards:
Under this plan, 45 percent of the board of directors in any large corporation with at least $100 million in annual revenue, corporations with at least $100 million in balance sheet total, and all publicly traded companies will be directly elected by the firm’s workers – similar to what happens under “employee co-determination” in Germany, which long has had one of the most productive and successful economies in the world.
When workers have a seat at the table, when they are involved in the decision-making that impacts their jobs and their work at the desk or on the shopfloor the results are clear – absenteeism goes down, productivity goes up, and people stay at their jobs for longer periods of time.
When workers are respected on the job as full human beings who help make decisions for a profitable company, rather than being mere cogs in the machine, morale goes up. And workers who sit on corporate boards will not vote to pay themselves poverty wages or ship their own jobs to low-wage countries to further enrich overpaid CEOs and a few wealthy stockholders.
Sen. Bernie Sanders tells @jonkarl a key difference between him and 2020 rival Sen. Elizabeth Warren: “Elizabeth, I think, as you know, has said that she is a capitalist through her bones. I’m not.”
— This Week (@ThisWeekABC) October 12, 2019