General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWarren's 8 demands for corporations receiving federal bailouts
Link to tweet
Elizabeth Warren demands eight conditions attached to a bailout package for business, including a $15 minimum wage for workers, a ban on share buybacks, and no dividends or executive bonuses for 3 years.
1. Maintain payrolls and use funds to pay employees
2. $15 min wage within 1 year
3. Permanent ban on share repurchases
4. No dividends or executive bonuses while receiving aid through 3 years afterward
5. At least 1 board member elected by workers
6. Collective bargaining agreements to remain in place without changes
7. Shareholder and board approval for political expenditures
8. CEOs must certify company compliance and face criminal penalties for violations
sheshe2
(84,084 posts)Thank you Elizabeth.
DonaldsRump
(7,715 posts)Thank you, Senator Warren: you tell it like it is.
gristy
(10,667 posts)Outstanding
smirkymonkey
(63,221 posts)Thank you Elizabeth! This is how you do it, and don't give them an inch!
progressoid
(50,023 posts)Hassler
(3,402 posts)in2herbs
(2,947 posts)whathehell
(29,111 posts)She's the best.
Tweedy
(628 posts)Thank goodness she is still in the senate!
burrowowl
(17,656 posts)absolutely.
geardaddy
(24,936 posts)DEbluedude
(816 posts)bucolic_frolic
(43,544 posts)EW is just so so so good!
flibbitygiblets
(7,220 posts)and if we find out it did, he forfeits ALL his money to the homeless and uninsured. And must leave the county immediately. On a rowboat. While citizens pelt him from the shore with rotten tomatoes
Hermit-The-Prog
(33,588 posts)flibbitygiblets
(7,220 posts)Volaris
(10,281 posts)The sun will explode before they willingly give the proles anything of the sort.
whathehell
(29,111 posts)How great would that be?
Volaris
(10,281 posts)whathehell
(29,111 posts)turbinetree
(24,745 posts)pecosbob
(7,550 posts)Any corporation with more than five hundred employees are exempt from paying any sick leave for employees with coronavirus. This means almost sixty million American workers will receive no sick leave at all unless their employers are simply feeling generous. It's starting to all look like a corporate giveaway.
Tweedy
(628 posts)The Speaker is trying to get something done that helps a.s.a.p.
Have no doubt, the democrats will keep trying and it looks like GOP opposition may be wilting.
Moreover, how hard would it be to vote against Senator Warren's rules right now? I double dog dare them to do it. Doubt any senator is in a hurry to bailout multinationals while voting against Senator Warren's common sense rules.
There is a reason Moscow Mitch is sitting on the senate bill. Fully expect the GOP to support some major socialism, with most of it going to the top (d'uh!) and just enough for the rest of us to make it palatable.
In other words, expect a trickle down bailout from the GOP.
Laelth
(32,017 posts)-Laelth
DeminPennswoods
(15,307 posts)nt
marieo1
(1,402 posts)She is a brilliant lady. About time someone will keep corporations in line. I know she will be fighting for these reforms.
uponit7771
(90,371 posts)Warpy
(111,476 posts)I can see a freeze on executive salaries, an end to executive bonuses, and a cutback in stock options, but there are too many retirees in this country who depend on those dividend checks.
I live on far less than my income, so I can go a few years without it. Other people aren't so lucky and without that money coming in will be choosing between groceries and necessary medications.
Obviously executive pay packages have gotten insane and those, in combination with stock buyback schemes to pump the executive compensation still higher, have combined to reduce dividend payouts considerably. I would rather see the executive scams ended without hurting retirees.
Wounded Bear
(58,797 posts)Tweedy
(628 posts)Would it not be preferable to increase social security payments, or cost of living, than to use bailout money for benefits that will mainly end up in the pockets of the uber wealthy?
Would it not be better to simply send checks to retirees?
The primary beneficiaries of dividend payouts are not seniors living on limited incomes. Seems to me democrats should be fighting persistently to avoid any policy that will use taxpayer dollars to once more increase our already abysmal income inequality.
Warpy
(111,476 posts)Corporations will rebound fairly quickly and get that money paid back in the absence of continued scamming by chief executives. Some might take only a couple of quarters, others might take a little more. However, it will happen quickly in the absence of fat bonuses, stock buybacks, and other abuses.
A lot of retirees can't handle a 3 year gap in income. That is the objectionable part, not an absence of dividends while the company is on the dole in order to survive.
Sorry I didn't make that part clearer.
ooky
(8,938 posts)on the table.
uponit7771
(90,371 posts)Duppers
(28,134 posts)mahannah
(893 posts)Evolve Dammit
(16,818 posts)warmfeet
(3,321 posts)She does not even need to be in the white house, or the cabinet of the next Democratic administration. She just needs to keep on influencing policy. I hope she can be a major voice for policy in this country, going forward.
Backseat Driver
(4,407 posts)Sherman A1
(38,958 posts)hangaleft
(649 posts)Thats my candidate for president. My first and only choice.
I will vote for Biden. But I lament the lost opportunity. This is the kind of leadership we desperately need. Of course, removing tRump is job #1. But implementation of reforms like this should be at the top of our To Do list once we rid ourselves of the dicktator. It remains to be seen whether theyll even be on our radar.
zentrum
(9,866 posts)....as the candidate.
SleeplessinSoCal
(9,201 posts)Karadeniz
(22,607 posts)Pepsidog
(6,254 posts)Layzeebeaver
(1,647 posts)One small step closer toward democratisation of the work place!
Mike Niendorff
(3,465 posts)Outstanding.
MDN
cstanleytech
(26,364 posts)met such as improving overall workers pay first for example and 6 will need to be amended to allow some leeway in the event the company needs to be renegotiated in good faith due to something like an unforeseen market change that might mean the company will go under if its not done.
BlueMTexpat
(15,376 posts)My heart is STILL with you!
whistler162
(11,155 posts)like banning axes because Lizzie Borden used one to kill her parents.
Better would be
Stock buybacks must equal all bonuses given in that year to lower management and non-management workers. The same with stock dividends. Upper management bonuses can't exceed the amount used in stock buybacks in that year.
nwliberalkiwi
(367 posts)I mostly agree with the Senator's points. Unfortunately, the reality is that the Democratic Leadership will take a lesser package that will benefit the Rich and Business interested and the people will be left with crumbs once again. We as Democrats need to stand up and fight!!!
samnsara
(17,667 posts)..not that they arent good points but it just gives the gop more to hold out on. we have ppl really hurting right now..this could drag on for weeks.
exboyfil
(17,867 posts)Firestorm49
(4,041 posts)Do you think Moscow Mitch will buy into anything that helps the worker? $15 per hour makes them wet their drawers.
This to me is common sense and Im all for it, but it doesnt mean squat if the other side retreats into their shells - (pin directly pointed at Moscow Mitch.)
peacebuzzard
(5,185 posts)Up down sideways Inside out
The epitome of critical thinking. 😍 I love warren
LudwigPastorius
(9,265 posts)dragonlady
(3,577 posts)WyattKansas
(1,648 posts)To all of their hijacking of any aid for Corporate America. Use their same fuzzy schemes to screw them back.