Varney: Successful people shouldn't let socialists destroy prosperity
FOX Business’ Stuart Varney’s on the future of American business as Sen. Elizabeth Warren stakes her campaign on wealth taxes and Jamie Dimon’s pushback against the Democratic candidate.
Elizabeth Warren versus Jamie Dimon. Top banking critic versus top banker. It’s a big fight: socialism versus capitalism. It looks like the 2020 election!
It really started in the summer of 2011, when Warren famously laid out her socialist position.
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Senator Warren is now a front runner for the Democrats in 2020. She has staked her campaign on "tax the rich", confiscate their wealth, and make big companies ask the government for permission to do business! That’s her pitch.
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Referring directly to banker Jamie Dimon she tweeted: "it’s only fair that he and his billionaire friends chip in to make sure everyone else has a chance to succeed."
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Ah! The fight is on and Mr. Dimon jumped right in.
Warren, he says, would change "the complete nature of how you run a corporation." He's right. If you have to ask the government for permission to operate, if you are forced to change the way your company is governed, and if the government tells you who takes the profits and which workers to hire, you really have fundamentally changed American business!
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"She uses some pretty harsh words. I don't like vilifying anybody. I think we should applaud successful people," Dimon went on.
Isn't that the point? Financial success gets no respect. The socialists of this world peddle a harsh message of jealousy and confiscation: “you've got more than me. It’s not fair! We'll take it off you.” The socialists make us all victims.
It’s good to see Jamie Dimon pushing back. Successful people should not stand quietly by and let the socialists destroy our prosperity.