Senator Elizabeth Warren of Massachusetts kicked off her 2020 presidential campaign last month. While she hasn’t officially announced a presidential run, her latest proposal could have no other purpose than to solidify her socialist bona fides with the hardcore left in the Democratic Party. She calls it the Accountable Capitalism Act, which is ironic since there is nothing capitalist about her plan.

Warren is taking a page from the playbook of Hugo Chavez in Venezuela and proposing that the government seize control over every business with more than $1 billion in revenue.

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 […] → Keep reading