To see what President-elect Joe Biden thinks is wrong with the economy today and how he would try to fix it, look to his relationship with DuPont Co. For much of his life the company was the largest employer and philanthropist in his home state of Delaware, funding schools, libraries and theaters.
At age 29, Mr. Biden staffed his first Senate bid with DuPont employees, who opened a campaign office on the highway built by and named for the chemical giant. While bashing other big companies for tax avoidance, Mr. Biden singled out DuPont as a “conscientious corporation” for paying a higher rate. He celebrated his long-shot 1972 victory in the Gold Ballroom of the Hotel du Pont.
More than four decades later Mr. Biden, by then Barack Obama’s vice president, watched with concern as DuPont, struggling to boost profits, was, sold the hotel, eased out its chief executive, merged with another company, split into three pieces and cut its Delaware workforce by one-fourth. Mr. Biden seldom publicly discusses DuPont by name, but in private, according to aides, he regularly cites its restructuring and downsizing as Exhibit A of modern capitalism gone awry. He often bemoans what he believes to be corporate America’s prioritization of investors over workers and their communities.
His platform during this year’s campaign was thick with policies aimed at altering corporate behavior: a minimum corporate tax to curb tax avoidance, penalties for shipping jobs overseas, measures that make it easier for unions to form. “It’s way past time we put an end to this era of shareholder capitalism,” he declared in a July speech.
Guess it’s time to quit this site. Twitter sucks!
If his views are so up and down, why did he take money from China and the Ukraine? Wasn’t that about business?
Corrupt old man sell the interest of Americans.
China owns Joe, so the jobs won't be here long anyway. chinasbitch
If only he ever served in the private sector. Owned or ran a business, etc.
He again the dems totally do not understand business. The reason you have a business is to MAKE MONEY!!!!! You don’t create a business just to create jobs.That’s a byproduct of the endeavor. Plus investors invest in a company to MAKE MONEY!!!!
Is Joe going to cause massive joblessness?
He'd be correct.
This is rich coming from a guy whose been a public servant his whole life, has somehow afforded to enrich himself to the point he owns multiple multi million dollar homes, and recently exposed as running a charity that funded nothing but its employees?
And he won’t do anything about it.
Does Joe Biden not realize that a good chunk of America depend on that stock market for their retirement. Why would he? Someone with a cushy pension that most of us have lost over the years of him being in government. Ignorant thinking from a man who truly doesn’t care...
I really don't care what Beijing Biden has to say about business. He will never be president. He lacks the mental ability at age 78 to do the job. He is also a crook, but can't remember when people tell him.
Dupont’s priority is the safety of their employees to the extent that they sell their expertise to the world.
But trust Uncle Joe ... he’s not Socialist ...
And he is totally right. People working for corporations shouldn’t have to be subsidized by the taxpayers.
Is that what Obama told him to say❓🇺🇸
Oh boy here we go
This is what Compassionate Capitalism is about.
Biden's been in government since the Civil War - how would he know what Wall Street and US corporations actually do?
Oh please, what's next? Is he going to cite Karl Marx? This is ridiculous. Companies that don't make profit have no employees, no retirements, no social benefit payments. Enough with the second rate socialism.
Has Joe Biden actually run a business, or does he just collect bribes?
What did he do in the past 47 years? What did he deliver? Can we trust any words from his mouth? Where’s Hunter?
Lol this guys a winner. What a joke. Can’t wait til this election is over and we don’t have to hear about him anymore.
Communism started ....
What would he know about working for a living anyway.
he's full of shit....or should I say the person/person's that are talking for HIM!!!!!
Call me naive but a corporation is obligated to maximize shareholder value & that means profits & well cared for gore workers
Wall Street has become too focused on participating in corporate welfare in lieu of maintaining efficiency and competitiveness. Too big to fail is a failed policy.
😲, it’s not DuPont that was involved in criminal activities with Illegal chemicals, it’s Wall Street that pressures the CEO in killing people by poisoning them with Teflon. I get it. Sorry dupont ErinBrockovich this is a joke, is it? JoeBiden
Isn’t that the entire purpose of a business?
The level of stupid has only just begun
Election 2024...let’s get ready to rumble!
DowDuPont
Biden doesn’t give a tinkers damn about workers. He’s in it to line his own pockets and those of his kin...period!
If you don’t like your pay, find another job or suck it up
loading communism... in 3 ,2, 1 .... == workers are workers, not owners . capitalism . if you don't like your job , find another one, in other place. Find a place that meet your requirements.
wall street owns biden, the media lies on his behalf
Trump's World Peace Plan hopefully will not be blown up! NATO's Pres thx Trump-rebuilding NATO. Ukraine Thx Trump-protecting against Putin. Challenged Germany for LNG pipeline from Putin Helped Poland defend against Putin. First POTUS to challenge China. ME Peace Caliphate fell
Don't worry Mr. President. Next year those jobs will be in China.
Governor Abbott is great! 'We have been ready for the distribution of COVID treatments and vaccines for months.' 'The Governors are meeting today with HHS Azar to finalized those plans now that another treatment (Regeneron) is available.'
Maybe if he wasn’t too busy shipping jobs overseas this would not be a problem
That's happened everywhere. Since everything is about exit strategy now, everything is profit focused. I want to go back to the overall revenue days.