Is Capitalism Doomed?

[Patrick2]

WHO IS IT WHO GETS PREFERENTIAL TAX TREATMENT? THE RICH? THINK AGAIN, SPARKY.

Look at your chart... for the love of God man.... $11k or less/year? These are the people you are pissed at? yeah... they don't need no help.. let them eat cake.

You missed the point - when I posted that, the leftwingers were blabbering about a "tax preference given the rich" fiction.

 

[georgephillip]

The essential argument boils down to this:

(1) It is completely capitalist and disgusting that the banks hijacked the economy and heisted a bailout for their bad faith efforts.

(2) It is completely socialist and disgusting that the banks hijacked the economy and heisted a bailout for their bad faith efforts.

Privatized gain; socialized losses. Capitalism or socialism? One thing we should all agree on: its disgusting. We need to unite around that.

If you believe the only safe place for power is in many hands, you might consider Social Credit, the interdisciplinary political economy put forth by CH Douglas in 1924.

"Douglas disagreed with classical economists who divided the factors of production into only land, labour and capital. While Douglas did not deny these factors in production, he believed the 'cultural inheritance of society' was the primary factor.

"Cultural inheritance is defined as the knowledge, technique and processes that have been handed down to us incrementally from the origins of civilization.

"Consequently, mankind does not have to keep 'reinventing the wheel'. 'We are merely the administrators of that cultural inheritance, and to that extent the cultural inheritance is the property of all of us, without exception.'"

As I understand Douglas's philosophy, this cultural inheritance justifies an an annual dividend paid to all citizens in a society independent of all other sources of income.

Subsistence becomes a human right, paid for by a thousand generations of human work.

 

[rdean]

Is Capitalism Doomed?

It is as long as we keep being held hostage by Republicans. They don't understand "supply and demand". None of their leaders can even say the words. They live in a kind of "fantasy" where corporations are "charitable organizations" who "make jobs".

No conservative I know of has ever called a corporation a "charitable organization", but in fact they DO give money to leftwing charities and causes, to buy peace with them.

You are a person who has NO CLUE about economics or free markets or how they work for the benefit of all - your ignorance has a crystalline perfection.

Yea, because "supply and demand" has nothing to do with economics. Every Republican knows that to be true.

Because we all know jobs come from corporations and rich people.

 

[rdean]

WHO IS IT WHO GETS PREFERENTIAL TAX TREATMENT? THE RICH? THINK AGAIN, SPARKY.

Look at your chart... for the love of God man.... $11k or less/year? These are the people you are pissed at? yeah... they don't need no help.. let them eat cake.

Did you see Rick Perry in that diner eating cake while someone was in the background shouting, "Let them eat cake". It was pretty funny.

 

[BoycottTheday]

[

I think the time is rapidly approaching in this country for a serious discussion about whether or not capitalism is still capable of providing jobs to all who need one. If not, what takes its place?

Dude, what we have today is NOT CAPITALISM!

Its democratic socialism + crony capitalism and that equals Facism.

The only capitalistic system today in the States is the underground economy.

ps get a life.

 

[georgephillip]

WHO IS IT WHO GETS PREFERENTIAL TAX TREATMENT? THE RICH? THINK AGAIN, SPARKY.

Look at your chart... for the love of God man.... $11k or less/year? These are the people you are pissed at? yeah... they don't need no help.. let them eat cake.

Soooo... the more money you make, the less you are an American? Is that how we're working the system now? Pay more, get less because in the eyes of government you are worth less, save the amount of parasites you support?

good thinking!

Noooo...the more money you make the more governmental services you require to hold on to your money and acquire more. If you employed others to earn your money, their basic literacy likely came from government-supplied schooling. The roads and bridges you and your employees drive over are partially created by government. Police and fire protection? Courts?

Do you honestly believe the richest 400 Americans should pay federal income taxes at an 18% rate today when they paid a 40% rate in 1961, back when they earned on average $13.7 million per year?

How many public servants would hold onto their jobs if today's richest 400 paid 1961's tax rate on the $260 million they currently "earn" every year?

The parasites who threaten this country are at the top of the food chain.
Not in the middle or bottom.

 

[Steelplate]

WHO IS IT WHO GETS PREFERENTIAL TAX TREATMENT? THE RICH? THINK AGAIN, SPARKY.

Look at your chart... for the love of God man.... $11k or less/year? These are the people you are pissed at? yeah... they don't need no help.. let them eat cake.

Soooo... the more money you make, the less you are an American? Is that how we're working the system now? Pay more, get less because in the eyes of government you are worth less, save the amount of parasites you support?

good thinking!

Those are your words asshole, not mine. But I would say the more money you make, odds are those people you find so disgusting to you are the ones helping attain your success. you cannot sell something without a buyer. The people you hate are the ones buying your shit. How fucking arrogant of you to play the "poor little rich boy" with me.

You know... I find that the more people use the word Parasite and the like, the more likely they are very much as dependent upon others for their survival as the ones they despise so much.

 

[georgephillip]

"I was sure it had been coined by Franklin D. Roosevelt against the Big Business opponents of the New Deal. In fact, when I looked it up I was surprised to learn that the memorable words were used by Republican President Theodore Roosevelt in a speech at Provincetown, Mass, to accuse the Trusts of causing the financial 'panic' of 1907.

"He went on to say:'. . . [these men] combine to bring about as much financial stress as possible, in order to discredit the policy of the government and thereby secure a reversal of that policy, so that they may enjoy unmolested the fruits of their own evil-doing. . .

"'I regard this contest as one to determine who shall rule this free country—the people through their governmental agents, or a few ruthless and domineering men whose wealth makes them peculiarly formidable because they hide behind the breastworks of corporate organization."

High-Stakes Blackmail: "Malefactors of Great Wealth" | Truthout

Sounds a lot like our contemporary class war that's being waged by Wall Street terrorists and their hired minions in media and government.

 

[georgephillip]

WHO IS IT WHO GETS PREFERENTIAL TAX TREATMENT? THE RICH? THINK AGAIN, SPARKY.

Look at your chart... for the love of God man.... $11k or less/year? These are the people you are pissed at? yeah... they don't need no help.. let them eat cake.

You missed the point - when I posted that, the leftwingers were blabbering about a "tax preference given the rich" fiction.

Another "fiction" like the recent Washington Post-ABC News poll taken shortly before the debt deal passed that showed 72 percent of voters supported raising taxes on high-income US households to reduce the deficit.

"Federal revenue is at its lowest level since the 1950s.

"The income share of the top-earning 1 percent of Americans has reached heights unseen since 1928, just before the Great Depression.

"Despite these phenomenal gains, this elite group continues to enjoy historically low federal taxes.

"Between rates, deductions, and loopholes, they often pay lower effective rates than many middle-class families. As such, it should come as no surprise that the richest 1 percent of Americans now controls nearly as much wealth as the bottom 95 percent of the country combined.

"Our circumstances are the result of decades of reforms that shifted taxes off the wealthy onto the middle-class under the pretense of 'trickle-down' economics.

"That strategy has proven ineffective and needs to be reversed.

"Yet, conservative officials gnash their teeth and threaten the global economy at the mere mention of correcting those policy mistakes..."

Let's 'Make Them' End the Great Recession | Common Dreams