Where’s The Government Accountability Act?

Elizabeth Warren announced she is introducing legislation titled “The Accountability Capitalism Act” that will create a government agency that will “spur a return to greater corporate responsibility.” According to Vox, the legislation “…would redistribute trillions of dollars from rich executives and shareholders to the middle class — without costing a dime.”  The thought of a government activity not costing a dime brought tears of laughter to my eyes.  https://www.vox.com/2018/8/15/17683022/elizabeth-warren-accountable-capitalism-corporations

(I briefly read the proposed legislation.  Senator Warren has one very good idea.  She wants to “curb corporate involvement in political activities.”  I am all for ending all lobbying activities by corporations and unions.  Free speech zealots will say I’m crazy.  Let any individual give whatever he wants as long as it is 100% disclosed, not hidden by some innocuous sounding PAC name.  Any legislation that curbs political donations is destined to die a quick death.  But I digress.)

When is the last time Congress passed a real budget?  Have our government officials ever explained the real liabilities of our federal government, including Medicare, Social Security, and all other promised welfare programs?  Are companies focusing on short term earnings really the problem?  If companies engaged in the budget shenanigans our esteemed Congress does, people would be in jail.

We live in a global economy.  Large US companies, who would be the focus of this legislation, compete with businesses from all over the world.  Those of us whose businesses supply large companies effectively compete world-wide as well.  Adding more regulatory burden leads to more crony-capitalism.  Instead of making it more difficult for US companies to compete internationally, make it easier.  And before you call out companies for not taking responsibility, take a look in the mirror regarding how our government operates.  A good place to start might be having all government employees (elected and unelected) participate in the same healthcare system those of us in the private sector participate in.  That would be a great start for government accountability!

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