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.

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Wally's picture

The "invisible hand" of "free market capitalism" will take care of everything including ignoring and dissing Bernie . . . .

MSM: Warren has a plan for everything! Isn't she amazing?

More MSM: Meh, it's just another plan from Bernie . . .

With Republican President Eisenhower in the 1950s, the tax rate on the rich was 90%

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ppnortney's picture

@Wally This just infuriated me, not just the insulting attitude but the inflated notion of what her job is. It's to report the damned news, including any proposal put out by a presidential candidate, not to decide what the news is.

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Very few established institutions, governments and constitutions ... are ever destroyed by their enemies until they have been corrupted and weakened by their friends. - Walter Lippmann

Wally's picture

@ppnortney

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Wally's picture

@Wally

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ppnortney's picture

his plan to go after the mergers and monopolies:

Today, we are seeing a level of corporate concentration not seen since the Gilded Age. Over the past 40 years, nearly every single industry in the country has become more concentrated. Monopolies and oligopolies rule over every aspect of American life, from the food we eat, the beer we drink, the airlines we fly, even to the eyeglasses we wear. Without competition, these corporations are able to gouge consumers, extort suppliers, and stifle innovation.

At the turn of the 20th century, Congress saw the need to restrict the monopolistic and unfair practices of massive trusts and corporations. The Sherman Antitrust Act, the Clayton Antitrust Act, and the Federal Trade Commission Act gave wide latitude for the federal government to enforce anti-monopoly policy, recognizing the destructive nature of unchecked corporate power. However, over the past several decades, the federal judiciary and antitrust agencies have been hijacked by right-wing, corporate-aligned ideologues who have made the failed Supreme Court nominee Robert Bork’s idea of “consumer welfare” the guiding principle for antitrust law. In implementing Bork’s far right ideology, the Supreme Court has weakened laws put in place to protect people from consolidation and monopolization and has left the economy to be run by a few large corporations.

This has resulted in a new era of monopoly power. Concentrated markets have led to lower wages and less innovation. We are seeing large corporations stamp out fair competition, excluding smaller rivals and raising prices for consumers.

Bernie believes we need to rediscover the American tradition of controlling corporate power and promoting fair competition through antitrust. He will halt anticompetitive mergers, break up existing monopolies and oligopolies, and appoint federal regulators ready to take action on behalf of workers and consumers – not massive corporations. He will take antitrust enforcement authority out of the control of the captured judiciary and create markets that work for all, not just the wealthy and well-connected.

All too often, decisions about mergers and acquisitions are determined by judges, not expert regulators, and have to go through a complicated legal system to be overturned. This is not how other nations approach mergers and acquisitions. The Federal Trade Commission must be given the authority to halt mergers and impose fines on companies that violate FTC guidelines without long, costly, and ideological court battles. Judges do not have the expertise to determine the economic and labor impacts of mergers and the FTC, whose staff has the training needed to make these decisions, must have the authority to approve or deny mergers.

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Very few established institutions, governments and constitutions ... are ever destroyed by their enemies until they have been corrupted and weakened by their friends. - Walter Lippmann

You just shot yourself in the head.
The time to propose nationalization is AFTER you are elected, not before.
This will not fly with the general public who don't want the USA to become the USSR.
Free stock, diminishing their 401K's and IRA's? Even I oppose that. Mandatory unions, unions sitting on the board, wealth tax, I support all that. But mot this. This is too radical.
It's almost as if they got to you and you are deliberately imploding. I've sent my last contribution.

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Wally's picture

@The Voice In the Wilderness

I like to throw my money away?

Bernie will never be President
His time was 2016.

Even if Tulsi, Sanders, or Warren are on the ballot, they will lose, but I might make a protest vote like I did with the Greens.

There's more of the same going back but, nah . . .

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Wally's picture

@Wally

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@The Voice In the Wilderness
It would be part of workers' compensation just like health insurance and retirement benefits. It's very common for high level employees. Some corporations already give stock benefits to their employees.

It has as much to do with nationalization as the shares my working class father received each year from the large corporation that employed him 50 years ago.

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longtalldrink's picture

@The Voice In the Wilderness That they trolled on this site

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Well done is better than well said-Ben Franklin

thanatokephaloides's picture

@longtalldrink

I was not aware That they trolled on this site

"They" ??

Who are "they" ? I'm confused.

Thank you!

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"I say enough! If Israel wants to be the only superpower in the Middle East then they can put their own asses on the line and do it themselves. I want to continue to eat."
-- snoopydawg

longtalldrink's picture

@thanatokephaloides I was unintentionally vague. Speaking back to "The Voice" I was claiming that as he was a troll, I was quite surprised this site let him in, as there is hardly any trolling going on around here. I find it pleasant. Hope that helps clear up what I was clumsily trying to say.

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Well done is better than well said-Ben Franklin

@longtalldrink

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@The Voice In the Wilderness
This is not the GOS. Here variant opinions are allowed without Thought Control and banning.
And without calling people "trolls"

I defended Bernie when most here called him a sheep dog. I've made a dozen contributions this cycle alone.
But this was a bridge too far. This will down him. I support all his social policies and almost all of his financial policies. Except this one. And when people realize that this dilution will destroy their 401K's, they will turn away too.

But YOUR thought control and name-calling is more welcome over there. Here's the link https://www.dailykos.com/users/signup

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Centaurea's picture

@The Voice In the Wilderness

in the 1950s, '60s, and '70s, many corporations gave their employees stock as a part of their normal employee benefits.

That was back when companies still accepted some responsibility for their employees' lives, instead of treating them like resources to be consumed and then discarded.

Nowadays, things that were the norm in the 1950s are seen as "too radical". Like a healthcare system that doesn't involve networks, co-pays, and insurance companies second-guessing doctors.

It's understandable that people under the age of 50 might think such things are strange and radical. They either weren't around yet then, or were too young to remember.

It's amazing how much my fellow Boomers seem to have forgotten, though.

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"Don't go back to sleep ... Don't go back to sleep ... Don't go back to sleep."
~Rumi

"If you want revolution, be it."
~Caitlin Johnstone

Wally's picture

@Centaurea

The establishment today has sure come a long way, baby, in solidifying their hegemony over the way we even consider taxation. They consider Bernie's taxation proposals to be some kind of extreme Red Robin Hood socialist plot. But if we look at how the tax structure was set up during the Eisenhower years, Bernie's proposals don't look too much different than Ike's actual taxation policies.

Although I don't much care for Politifact, sometimes they get it right:
https://www.politifact.com/truth-o-meter/statements/2015/nov/15/bernie-s...

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@Centaurea
via payroll deduction. Not on orders from Washington.

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Raggedy Ann's picture

event occur, one's mind begins to decide it's time to take action because life may end soon.

After my husband suddenly dropped dead of a heart attack, I couldn't keep silent about how I felt a about things. I suddenly thought I didn't have time to say what I wanted to say to whomever I was saying it to.

What I'm saying, is that it made me realize we need to speak up when we have the chance, when we have the floor.

Good for Bernie! The DNC will do whatever they can to stop him, but they cannot silence him - that's death's job.

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“The trouble [with injustice] is that once you see it, you can’t unsee it. And once you’ve seen it, keeping quiet, saying nothing, becomes as political an act as speaking out. There is no innocence. Either way, you’re accountable.”
-- Arundhati Roy

thanatokephaloides's picture

@Raggedy Ann

Good for Bernie! The DNC will do whatever they can to stop him, but they cannot silence him - that's death's job.

Death won't silence Bernie Sanders. What he says about this country's economy will survive him.

"Not me, us." -- Bernie Sanders

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"I say enough! If Israel wants to be the only superpower in the Middle East then they can put their own asses on the line and do it themselves. I want to continue to eat."
-- snoopydawg

longtalldrink's picture

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Well done is better than well said-Ben Franklin

Wally's picture

@longtalldrink

Compare photo above and these below.

Yea, Bernie and Jeremy Corbyn are very much alike, but the Federalist Warren?

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longtalldrink's picture

@Wally But I didn't quite understand your reply. I was not saying Warren and Sanders were "almost the same"...I was trying to show how very different they are.

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Well done is better than well said-Ben Franklin

Wally's picture

@longtalldrink

. . . .what with Warren addressing the Federalist folks in the video you posted while Bernie and Corbyn were out there demonstrating and getting arrested in their younger days.

I wasn't responding in disagreement with you.

Trump will make mincemeat of her given her multiple credibiity problems if she becomes the nominee.

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