Bernie Sanders Plans to End Corporate Buybacks with…Chuck Schumer?

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After watching a recent clip on Youtube from Bernie Sanders and Chuck Schumer about a proposal they are working on together to end corporate stock buybacks, among other things, a few cringe-worthy alarm bells began worrying loudly in my ears. 
Here’s the clip.

~ And, Here’s my take on the latest issue of:


ThWeekly Rant

02/07/2019

While I understand the political strategy here, seeing Chuck Schumer, one of the biggest corporatists and anything BUT a defender of working and middle-class taxpayers, pandering to voters, trying to piggyback off of Bernie’s long-held agenda for reigning in corporate greed and closing tax loopholes for corporate billionaires just bothers me.

Chuck Schumer, known defender of tax breaks for hedge fund managers and private equity firm CEOs, whose biggest backers include investment lawyers, real estate, insurance, and corporate lobbyists (in that order), whose top nine campaign contributions between 2013-2018  were all from financial institutions, with over $4.5 million from corporate PAC donations alone (vs. the less than $600K he’s raised in small individual contributions under $200) between 2013-2018.

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The New York senate democrat who held seats on both senate banking and finance committees when the New York Times cited in a 2008 article that he’d,

“…embraced the industry’s free-market, deregulatory agenda more than almost any other Democrat in Congress, even backing some measures now blamed for contributing to the financial crisis.” 

And his subsequent support of the big bank bailout at taxpayers’ expense, now trying to position himself as an alleged proponent of stricter regulations for big corporations and/or changing the tax code to limit profits made off corporate dividends, I find just a little hard to swallow.

Sen. Bernie Sanders (I-VT), accompanied by Senate Minoirity Leader Chuck Schumer, speaks with reporters following the party luncheons on Capitol Hill in Washington

The same Chuck Schumer who, as senate minority leader in 2016 said,

“For every blue-collar Democrat we lose in western Pennsylvania, we will pick up two moderate Republicans in the suburbs in Philadelphia, and you can repeat that in Ohio and Illinois and Wisconsin.” 

(and we all know how well THAT strategy turned out)

~ This, After ringing in the era of the “New Democrat” (a.k.a. moderate-republican/economically conservative centrists) in 2004-2006, sixteen of whom recently voted to roll back Dodd-Frank banking regulations put in place following the 2008 financial crisis, three of  them (Donnelly, HietKamp and McCaskill) subsequently losing re-election in 2018, largely due to running “republican-lite” pro-Trump/corporate tax cuts, anti-democrat campaigns.

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~NOW, all of a sudden, we are supposed to believe that same ol’ Chuck is just like Bernie- looking out for low and middle-income workers in America?

Who wants to reign in Wall Street, stop corporate buybacks and tax dividends for corporations?

That he, too, wants to raise wages, invest in pension funds and ensure working families have the opportunity to live the “American Dream”?

~Really?

Well, I’m sorry, Schumer, if I’m a little bit skeptical of your intent.

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I’m even more skeptical of politicians trying to align themselves with Bernie progressives by alleging support for some of Bernie’s progressive policies while remaining less-than-enthusiastic about his key platform positions like medicare-for-All, Free college tuition, the fight for $15, expanding Social security, The green New Deal, lowering prescription drug prices, Campaign Finance Reform, Ending Citizens United, the crisis in Yemen, and closing private prisons and detention centers, among other issues, or for Bernie himself, especially if/when he decides to run for president…

Still, it’s good to see Bernie pushing democrats like Chuck Schumer back to the left and their democratic base, ~ the working and middle-class majorities that make up this country, still struggling so hard to survive, for whom the “American Dream” is simply out of reach.

TishaC.P.

Have a Thought or Comment or a different take on this issue? Please feel free to add your own opinions below!

(please keep any personal attacks to yourself).
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