Cash is what greases the wheels of a capitalistic economy. That cash must be shared by everyone in the society for financial growth and stability.
Put cash in Americans pockets and they will spend it. That will create the growth we need to get back to financial strength.
Government has plenty of Socialistic tendencies that give money back to the people (social security, welfare benefits, medical benefits, etc., etc..) And more is needed during this time of the pandemic. It's corporations who need more Socialistic tendencies towards its workers (profit and benefit increases).
They can well afford it and claims to the contrary are false. One multi-million dollar salary paid to one of their executives could pay for a pay raise to their whole work force. In order to spur financial growth even the lowest paid worker needs a pay raise.
The greatest growth period in American history happened when we paid taxes three times higher than we pay now. At that time only one worker in a household was needed to not only pay the bills, but have a nice lifestyle. That's because people had disposable income and they spent it spurring economic growth.
Capitalists have a responsibility to the community they do business in and that responsibility goes beyond their stock holders and must include their workers. We have killed off our unions, but if we ignore our workers, our national economy suffers. Prices may go up, but it's all relevant. Everyone can afford the higher prices, if their pay raises are high enough. Twenty five cents an hour won't cut it.
Walmart (one the nations largest employers) pay their work force so poorly, that they qualify for Federal and State benefits. Why should tax payers subsidize Walmart's workforce? Especially when Walmart is posting outrageous profits.
Put cash in Americans pockets and there will be a boom in our economy, but everybody must be included in getting more cash.
Unfortunately my friend you're attempting to give virtuous character enhancement to Capitalism. Capitalism is about PROFIT thus virtue is out of the question.
ReplyDeleteI like your thinking; though I'm a bit further Left, just left of Vlad Lenin.
What I'd do - if I were King -
I'd hit a reset button. I'd confiscate the liquid, monetary wealth from the 50-70 1% FOR THE COMMON GOOD. I'd let them keep their gouging businesses and corporate stash. All of their personal property would still be theirs. But I'd take all that money and redistribute it FROM THE BOTTOM UP!
THAT ... in a nutshell is why Capitalists
https://www.youtube.com/watch?v=cKUaqFzZLxU
Thanks for listening,
bj in CO
A wealth tax, a financial transaction tax, and restoring the inheritance tax would be good start.
ReplyDeleteHow about a death/estate tax on boomers who did not pay their fare share which is why we have a 30 trillion dollar debt?
DeleteYes, and luxury taxes on yachts, planes, and other high end items no average person can afford.
DeleteCapitalism is the economic system that when functioning as it should creates wealth that rises ALL boats. One only need look at our growth between 1946 and 1970 to understand this. A period of huge economic expansion and growth covering a mere quarter century.
ReplyDeleteOf course during this period CEO's were making 50 times the average workers salary and taxes were higher. No CEO make 500 times plus what their workers make and corporate taxes are the lowest I can ever remember.
What is killing our growth and diminishing our nations economic potential is, ready for it, GREED AND CORRUPTION. And the republicans and cons want to triple down on stupidity. And they have Dunder tRump on their side.l00
2'nd paragraph, 2'nd sentence first word. Now, not no.
DeleteAnd not only that, CEO's these days often receive muti million dollar bonuses to boot.
RN,
DeleteThanks for stopping by.
During that time companies shared more with their employees. That allowed buying and growth of the economy. Those were the days when one worker in a family could afford more than just the basics of life. It also showed us that higher taxes do not inhibit growth.