[Ed. – The government land grab of white-owned farms in South Africa must have inspired her.]
Massachusetts Senator and 2020 presidential hopeful Elizabeth Warren has just proposed what would be the largest government seizure of private property in human history — and she’s not kidding.
The euphemistically dubbed “Accountable Capitalism Act” would place all businesses with more than $1 billion in revenue under complete and total federal control. The feds would dictate to these businesses the composition of their boards, the details of internal corporate governance, compensation practices, personnel policies, and much more. Control of these businesses would shift from those who actually built them to politicians and bureaucrats who would no doubt use them for entirely philanthropic, non-self-serving ends (gag).
This is a non-starter in a Republican-controlled Congress. It won’t even go up for a vote. But as Kevin D. Williamson notes over at the National Review, Warren is playing the long game. She’s floating this idea in preparation for her presidential run, and if she wins she’ll no doubt push policies just like this in a Congress that may or may not be under Republican control.