Capitalism is NOT Democratic: Democracy is NOT Capitalist

[georgephillip]

Real estate isn't taxed? Real estate income isn't taxed?
How should a junk-bond takeover be taxed? Any specifics?

Reaganomics - Wikipedia

"Reagan lifted remaining domestic petroleum price and allocation controls on January 28, 1981,[17] and lowered the oil windfall profits tax in August 1981.

"He ended the oil windfall profits tax in 1988.[18] During the first year of Reagan's presidency, federal income tax rates were lowered significantly with the signing of the Economic Recovery Tax Act of 1981,[19] which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%.

"This act slashed estate taxes and trimmed taxes paid by business corporations by $150 billion over a five-year period. In 1982"

 

[struth]

How did the Founding Fathers promote or provide for Facebook, Amazon, and JP Morgan Chase?

via capitalism. They would exist without it

 

[Toddsterpatriot]

Reaganomics - Wikipedia

"Reagan lifted remaining domestic petroleum price and allocation controls on January 28, 1981,[17] and lowered the oil windfall profits tax in August 1981.

"He ended the oil windfall profits tax in 1988.[18] During the first year of Reagan's presidency, federal income tax rates were lowered significantly with the signing of the Economic Recovery Tax Act of 1981,[19] which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%.

"This act slashed estate taxes and trimmed taxes paid by business corporations by $150 billion over a five-year period. In 1982"

"Reagan lifted remaining domestic petroleum price and allocation controls on January 28, 1981,[17] and lowered the oil windfall profits tax in August 1981.

No more gas lines/gas shortages.
And oil and gasoline prices dropped. That was awesome!

You avoided my questions.

Real estate isn't taxed? Real estate income isn't taxed?
How should a junk-bond takeover be taxed? Any specifics?

 

[georgephillip]

In its pure form, capitalism involves a market where free people are FREE to engage in commerce together FREE of government interference. A garage sale or a flea market is very "free-market" and "capitalistic" in that there are buyers and sellers who FREELY choose to buy and sell. That is free-market capitalism in action and, yes, that freedom is what allowed Americans to become so prosperous. And the left is opposed to it? Amazing.

Who currently controls your (mythical) free market?
Here's a hint:

The Fed Announces Plans to Permanently Backstop Wall Street with a Standing Repo Loan Facility of $500 Billion…Starting Tomorrow

"You really can’t make this stuff up. A G30 Working Group Chaired by Tim Geithner, the former President of the New York Fed, that secretly sluiced $29 trillion to bail out the Wall Street banks from their hubristic collapse in 2008, released a report today calling for a Standing Repo Facility from the Fed that would be 'open to a broad range of market participants….'

"The ink was barely dry on that report when the Fed issued a press release today saying it was doing just that.

"The Standing Repo Facility (effectively meaning that it is permanent until the Fed says otherwise) will be able to lend out $500 billion in overnight loans each day at below-market interest rates."

Who owns the New York Fed?

 

[Burgermeister]

Well one is an economic theory and the other is a political theory so yeah, different things. Deep.

 

[Toddsterpatriot]

Who currently controls your (mythical) free market?
Here's a hint:

The Fed Announces Plans to Permanently Backstop Wall Street with a Standing Repo Loan Facility of $500 Billion…Starting Tomorrow

"You really can’t make this stuff up. A G30 Working Group Chaired by Tim Geithner, the former President of the New York Fed, that secretly sluiced $29 trillion to bail out the Wall Street banks from their hubristic collapse in 2008, released a report today calling for a Standing Repo Facility from the Fed that would be 'open to a broad range of market participants….'

"The ink was barely dry on that report when the Fed issued a press release today saying it was doing just that.

"The Standing Repo Facility (effectively meaning that it is permanent until the Fed says otherwise) will be able to lend out $500 billion in overnight loans each day at below-market interest rates."

Who owns the New York Fed?

Is there anything worse than fully collateralized overnight loans?

 

[K9Buck]

Who currently controls your (mythical) free market?
Here's a hint:

I guess that's what I'm trying to tell you. A truly "capitalist" market is FREE of government interference. You dislike the market and, rather than advocating for LESS government interference, you apparently want MORE government interference.

It goes beyond that. Ultimately, guys like you don't want individuals to be free to pursue their own prosperity. You view individuals as subjects of the state that must do the bidding of your statist masters.

 

[boedicca]

 

[georgephillip]

No that's what stupid people do. Anyone who refuses to save for future expenses is just plain stupid. And don't pretend such expenses are really unexpected, anyone with a brain knows things will happen. Do you really think the refrigerator or car will run for ever?

Do you really believe someone working multiple jobs to keep a roof over their family's head and has to purchase that refrigerator or pay for car repairs by putting the charges on their credit card has the capacity to save for inevitable "unexpected" expenses?

The State of the American Debt Slaves, Q1 2020: How Are Consumers Positioned Going into the Crisis?

The richest ten percent of Americans are strangling the majority of Americans with eternal debt.

 

[georgephillip]

Capitalism is democratic. Each share you own in a company allows you 1 vote per share for who sits on the board of directors.

One dollar one vote is NOT democratic:

Wealth gap grows as rising corporate profits boost stock holdings controlled by richest households

"A separate Federal Reserve report indicates the top 10% of households by net worth control 87.2% of the equities in this country at the end of the first quarter.

"While the top 1% have always controlled 70% to 80% of stock market value since record-keeping began in 1989, this is the highest level of ownership ever, other than the fourth quarter of 2019, when it was 88.1%."

 

[Toddsterpatriot]

"A separate Federal Reserve report indicates the top 10% of households by net worth control 87.2% of the equities in this country at the end of the first quarter.

Why didn't you ever buy any equities?

 

[Deplorable Yankee]

https://projects.iq.harvard.edu/fil...-_is_capitalism_compatible_with_democracy.pdf

"Capitalism and democracy follow different logics: unequally distributed property rights on the one hand, equal civic and political rights on the other; profit oriented trade within capitalism in contrast to the search for the common good within democracy; debate, compromise and majority decision-making within democratic politics versus hierarchical decision-making by managers and capital owners.

"Capitalism is not democratic, democracy not capitalist.

"During the first postwar decades, tensions between the two were moderated through the socio-political embedding of capitalism by an interventionist tax and welfare state.

"Yet, the financialization of capitalism since the 1980s has broken the precarious capitalist-democratic compromise."

Reagan's tax cuts facilitated low interest rates and financial bubbles to promote US financial expansion by making real estate speculation and junk-bond corporate takeovers effectively exempt from income taxation.

This set in motion a chain-reaction of asset price inflation that is still polarizing this economy today.

The primary mode of accumulation has become financial, enabling investment bankers to replace government planners.

For the 98957th time

Capitalism is not really an ideology

 

[georgephillip]

Now be honest, he's the first thing you think about when you wake and all you dreamed about all night, RIGHT? Dude there are professionals that can help with your obsession.

Why don't you try thinking about this question: Do vast private fortunes exist in a world without eternal war and endless debt?

 

[Nostra]

Thanks to MAGA, Moron

Voter suppression helped decide presidential election - The Pitt News

Nope. Never been a Democracy, Dumbass.

Oh, and your source is a Hitlery Clinton supporter. Even looks the part of a libtard hipster dufus.

Henry Glitz is a junior double major in Political Science and Economics, minoring in French and History. He is an opinions columnist for the Pitt News and a Hillary Clinton supporter in this year’s election.

Columnist: Henry Glitz - The Pitt News

Henry Glitz is a junior double major in Political Science and Economics, minoring in French and History. He is an opinions columnist for the Pitt News and a Hillary Clinton supporter in this year’s election.From Henry: Pitt anomaly: Urban campus pride Pittsburgh housing occupancy limit hurts...

pittnews.com

 

[Nostra]

sorry but youre wrong,,
we are a constitutional republic,,

I wonder why ol georgephillip hasn't renounced his US citizenship and moved to Cuba.

 

[LAUGHatLEFTISTS]

The New Deal created the greatest middle class in history after capitalism collapsed the global economy in 1929. Central planning won both world wars in the 20th century. By early 2020 when the MAGA pandemic first began shutting down the world economy, 87 million US residents lacked adequate healthcare and 40% could not afford an unexpected $400 expense.

In the richest country in history 40 million people were poor, half of all workers lived paycheck to paycheck, and 12% of the population had experienced food insecurity at some point during the preceding year.

That's what capitalism does.
It consolidates wealth in fewer and fewer hands with each passing generation.
Only slaves call that freedom.

I read the thread title and laughed. Then I checked the author and laughed harder. Then I checked the link and it’s origins and doubled over in laughter. Then I read this post and laughed so hard I cried.

 

[LAUGHatLEFTISTS]

Thanks to MAGA, Moron

Voter suppression helped decide presidential election - The Pitt News

Hillary’s going to be pissed. Nancy and Chuckie told her it was the Russians!

 

[LAUGHatLEFTISTS]

How did the Founding Fathers promote or provide for Facebook, Amazon, and JP Morgan Chase?

They wrote documents to keep the federal government out of the way.
Anything else I can help you with?

 

[georgephillip]

well they are two different things all together…one is an economic system and one a Govt system. Both promote freedom and individual rule.

Capitalism divides society into two unequal cohorts: owners and employees.
Those who own the means of production determine what to produce, where to produce it, and how to distribute profits. Their stock market functions on the basis of one dollar one vote. Democracy operates on the version of one person one vote. Capitalism can function with authoritarian or representative government while democracy can not.

 

[struth]

Capitalism divides society into two unequal cohorts: owners and employees.
Those who own the means of production determine what to produce, where to produce it, and how to distribute profits. Their stock market functions on the basis of one dollar one vote. Democracy operates on the version of one person one vote. Capitalism can function with authoritarian or representative government while democracy can not.

um owners don’t determine what to produce or how much…demand does, demand by the people.

capitalism also allows employees them selves to become owners