Crony Capitalist Hillary wants to reform capitalism because … (Bernie Sanders!)
Vermont’s “independent” “Socialist” Senator Bernie Sanders may have a lock on the left-wing vote but Hillary Clinton is doing everything she can to stop his rise.
In so doing, the ultimate crony capitalist is demonstrating, once again, that she has no core set of beliefs other than in obtaining power. Hillary is adopting Sanders’ platform attacking capitalism not because she believes it, but because she hears Bernie’s footsteps gaining on her in the polls.
In a recent speech at NYU, Hillary Clinton claimed that capitalism needs a reset and proposed changes to capital gains taxes.
Tory Newmyer of Fortune reports:
Hillary Clinton: Capitalism is out of balance, needs a reset
Hillary Clinton wants to hike capital gains taxes as part of her plan to discourage short-term thinking among corporate executives and investors.
The Democratic presidential front-runner laid out her plan to retool the tax treatment of investment earnings on Friday as part of an ongoing series of speeches fleshing out her economic program. She proposed extending from one to two years the period that top earners would need to hang on to an investment before seeing the 39.6% tax rate applied to it start to fall.
And she would lower the rate slowly, over a six year period, down to the 24% rate for longer-term investments — a tweak that she said would help refigure a system that’s bent itself out of shape over the last few decades. Capitalism itself, she said, “needs to be reinvented, it needs to be put back into balance.”
Here are some highlights from Hillary’s speech via Bloomberg. She does say that capitalism is the “greatest engine of economic opportunity” but she also drops a few lefty buzzwords like “shareholder activism” and says she’s looking for “disruptive ideas” to save capitalism.
Here’s the translation for investors; be afraid. Be very afraid.
Does everyone remember what happened the last time Hillary tried to “reset” something?
Dan Merica of CNN:
Hillary Clinton stands by ‘Russian reset’ in face of recent events
That is the argument former Secretary of State Hillary Clinton made during a Thursday interview about her much talked about 2009 reset of U.S.-Russia relations.
The statement comes as Russia, under President Vladimir Putin, has distanced itself from the United States, and the country is widely seen by U.S. and European analysts as linked to the downing of a passenger airliner earlier this month in Ukraine.
“What I think I demonstrate in the book, is that the reset worked,” Clinton told guest host John Harwood on NPR’s “On Point” on Thursday during a conversation about her new memoir, “Hard Choices.” “It was an effort to try to obtain Russian cooperation on some key objectives while (Dmitry) Medvedev was president.”
Clinton later said the reset “succeeded” and was meant to be “a device to try to refocus attention on the transactional efforts that we needed to get done with the Russians.”
Here’s a final question. If Hillary Clinton is such a big fan of capitalism, why is her top adviser John Podesta tweeting links from the far left site Think Progress about the need for companies to share profits with workers?
Don’t companies do that every time they issue a paycheck?
— John Podesta (@johnpodesta) July 22, 2015
The Hillary story of resetting capitalism is not about resetting capitalism. That might reflect a core ideology.
It’s about someone with no core beliefs other than obtaining and protecting her political power.
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