Several years ago, I was talking with one of my nephews. When I asked how it was going, he replied “Just working”. I smiled and told him to get used to it because he would be doing it for the next 50 years.
I am approaching 71 years of age and have, in fact, been working over 50 years. Although I’m “semi-retired”, I still put in a 40+ hour week just as I have since I was 18.
I am however, enjoying some of the fruits of my labor. Hard work, saving money, making investments, and more hard work now afford me a relatively comfortable life style. We live in a modest home and drive modest cars – my truck is 15 years old - but are able to pay our bills and enjoy our children and grandchildren.
Elizabeth Warren wants that to end. She has decided that all of us who worked long, hard hours to accumulate the “wealth” necessary to retire in reasonable comfort now need to forfeit that privilege. Sen. Warren feels that corporate managers and fund managers should no longer have a fiduciary responsibility to those who have actually invested cash in their company or fund but instead should have a responsibility to serve a host of new “stakeholders” who have no financial interest in the company or fund.
Instead of serving their investors, corporations would now be required to serve the political interests of whoever happens to be in power at the time. Those who have actually contributed to the wealth of the corporation would be cast aside in favor of those with “no skin in the game”.
Rather than making decisions based on the best interests of the corporation and its shareholders, corporations would now be serving the whims and vagrancies of Capitol Hill. In a single blow, Sen. Warren could bring our economic system crashing down.
You might think America’s strength lays in its military. While those proud service members are a vital part of our national security, it is our economic vitality that truly sets us free.
To contemplate destroying that represents a very clear threat to our national security.
It’s something worth considering.
Barry Boswell is a semi-retired engineer with over 35 year’s combined military and civilian government service