Elizabeth Warren DROPS HAMMER On Corporations As Insurance Industry Rage Surges

Elizbeth Warren introduces the Accountable Capitalism Act in the Senate bill aimed at reigning in wealth inequity and giving more power to workers instead of the top shareholders, which have proven to make the top positions in corporations, including many health insurers, profit massively without giving more to employees or lowering plan prices. John Iadarola and Francesca Fiorentini break it down on The Damage Report. Leave a comment with your thoughts below!

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Elizabeth Warren introduces Senate bill to hold capitalism ‘accountable’

"The senator Elizabeth Warren will introduce a bill in Congress on Wednesday aimed at shifting corporations away from “maximizing shareholder value” and towards giving more support to workers and other stakeholders.

The Accountable Capitalism Act proposes a series of reforms to increase corporate responsibility, strengthen the voices of workers and others in corporate decisions and shift companies away from their focus on shareholders.

In the 1980s, the largest corporations in the US dedicated less than half of profits to shareholders, reinvesting the rest into the company, according to a fact sheet on the bill provided by Warren’s office to the Guardian.

But over the past decade, more and more profits have gone to shareholders rather than workers or long-term investments. During the same period, worker productivity has risen, with only modest increases to real wages for the median worker, while income and wealth inequality have soared."

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