MCViewPoint

Opinion from a Libertarian ViewPoint

EconomicPolicyJournal.com: Elizabeth Warren’s Batty Plan to Nationalize . . . Everything

Posted by M. C. Fox on August 22, 2018

And you think tariffs will drive companies overseas…

You have to admit she knows how to get a deal on tuition and tenure.

Despite a nearly three week flap over her claim of “being Native American,” the progressive consumer advocate has been unable to point to evidence of Native heritage except for an unsubstantiated thirdhand report that she might be 1/32 Cherokee. Even if it could be proven, it wouldn’t qualify her to be a member of a tribe: Contrary to assertions in outlets from The New York Times to Mother Jones that having 1/32 Cherokee ancestry is “sufficient for tribal citizenship,” “Indian enough” for “the Cherokee Nation,” and “not a deal-breaker,” Warren would not be eligible to become a member of any of the three federally recognized Cherokee tribes based on the evidence so far surfaced by independent genealogists about her ancestry.

http://www.economicpolicyjournal.com/2018/08/elizabeth-warrens-batty-plan-to.html

By Kevin D. Williamson

Senator Elizabeth Warren of Massachusetts has one-upped socialists Bernie Sanders and Alexandria Ocasio-Cortez: She proposes to nationalize every major business in the United States of America. If successful, it would constitute the largest seizure of private property in human history.

Warren’s proposal is dishonestly called the “Accountable Capitalism Act.” Accountable to whom? you might ask. That’s a reasonable question. The answer is
— as it always is — accountable to politicians, who desire to put the assets and productivity of private businesses under political discipline for their own selfish ends. It is remarkable that people who are most keenly attuned to the self-interest of CEOs and shareholders and the ways in which that self-interest influences their decisions apparently believe that members of the House, senators, presidents, regulators, Cabinet secretaries, and agency chiefs somehow are liberated from self-interest when they take office through some kind of miracle of transcendence.It is also cynical. Senator Warren is many things: a crass opportunist, intellectually bankrupt, personally vapid, a peddler of witless self-help books, etc. But she is not stupid. She knows that this is a go-nowhere proposition, that she will be spared by the Republican legislative majority from the ignominy that would ensue from the wholehearted pursuit of this daft program. It is in reality only a means of staking out for purely strategic reasons the most radical corner for her 2020 run at the Democratic presidential nomination. The Democratic party in 2018, like the Republican primary electorate in 2016, is out for blood and desirous of confrontation. So Senator Warren is running this red flag up the flagpole to see who salutes…

One wonders why American businesses put up with it.

They do not have to. Not really.

It is a fairly easy thing for an established American business to move its corporate domicile to some other country, as with all those corporate inversions in the pharmaceutical industry that gave the Obama administration the willies a few years ago. It is also a fairly easy thing for a new business being founded by Americans to incorporate in some other country from the beginning. There is no insurmountable reason for, say, Microsoft or Altria (formerly Philip Morris) to be domiciled in the United States. Silicon Valley’s competitive edge comes from people, and people are mobile.

Nearly half of the total sales of the S&P 500 businesses come from overseas customers. Many big U.S. manufacturers such as Caterpillar get more than half of their sales from abroad. Exxon, the target of a political jihad being conducted by Senator Warren’s party, gets more than half of its revenue from overseas sales. You can serve the growing Asian markets as easily from Singapore as from California or Virginia. Watching American cities scurry around to prostrate themselves before Jeff Bezos (pbuh) in the hopes of attracting the new Amazon campus has been amusing. Imagine Apple or Google doing that in a global search for a new home. Fanciful? Yes…

Be seeing you

Faux

 

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