Adam Smith was a Marxist

[georgephillip]

You can't lose your home to a medical bankruptcy. The primary residence is judgement proof.

"4. A homeowner who files for bankruptcy will lose her house.Yes and no. In New York State, under what is called the 'homestead exemption,' an individual is allowed to keep the first $10,000 in equity in her home above all liens and encumbrances despite the bankruptcy filing (the exemption is $20,000 for joint debtors).

"For example, consider an individual who is current on his mortgage payments, has little equity in the property, and has a lot of credit card debt. Assume that the property is worth $250,000 and the mortgage is $240,000. In this instance, the individual can file for Chapter 7 and keep the house.

"Assume, however, that the same individual has a $200,000 mortgage on the property. After taking into consideration the $10,000 homestead exemption, the individual is left with $40,000 in nonexempt equity. If this individual files for Chapter 7, the trustee in the case will sell the property and the individual will be given the first $10,000 from the proceeds."

Top 10 Misconceptions About Bankruptcy

 

[georgephillip]

George, why do you suppose rich people are willing to spend so much money on politics?

To receive favorable tax and trade legislation.

 

[Londoner]

Smith was okay with the rich paying more than their share, since they got more out of society, wanted no taxes on necessities but was fine with taxes on luxuries, and wanted corporations to continue to be banned. That Marxist enough for you?

The Right has created an industry out of the invisible hand comment, but very few people who quote Smith have read T.W.O.N.

Smith sounds like Marx when he talks about monopolies, anti-trust and the exploitation of labor markets. He was also an anti-globalist who favored Main Street over large corporations. In short, the majority of his views are slightly Left of center.

If Obama had nominated him (a current version of him) to the Fed, the Right would have called him a Marxist. In fact, he would be far to the Left of any economic advisors for Carter, Clinton or Obama.

Turn off talk radio people .... And read some books

 

[georgephillip]

It is truly unbelievable that posters praise Marxism, ie slavery. regardless of who allegedly supported.

Marx came from the Enlightenment, and his thinking was motivated by a commitment to the scientific method and individual freedom. Obviously, communism didn't live up to that lofty ideal, but you can't blame Marx for that part.

 

[Staidhup]

Cronyism is the antithesis to free open markets. Structure of the export import bank was designed to assist small and large companies, however, only large well connected corporations benefit. Tax policies and legislative action in most cases aide the large public corporation at the expense of small private companies in reducing competition. Cronyism dictates through lobbyists and special interest groups policy which maintains an unequal field of competition that benefits large deep pocketed firms. Until such time that special interest groups are run out of Washington we will be plagued with the semblance of a free market based economy in rhetoric only and not practice.

 

[bripat9643]

There is no such thing as government controlled by private fortunes. It normally works the other way around. Government controls private fortunes

Private fortunes elect the best government money can buy:
"In the 2012 election, 28 percent of all disclosed political contributions came from just 31,385 people. In a nation of 313.85 million, these donors represent the 1% of the 1%, an elite class that increasingly serves as the gatekeepers of public office in the United States.

"More than a quarter of the nearly $6 billion in contributions from identifiable sources in the last campaign cycle came from just 31,385 individuals, a number equal to one ten-thousandth of the U.S. population."

The Political 1 of the 1 in 2012 - Sunlight Foundation Blog

The fact that rich people give money to politicians proves only that rich people give money to politicians. It doesn't prove that rich people control politicians. In fact, precisely the opposite is the case. Elections are a form of extortion racket where politicians shake down rich people and corporations for protection money. Failure to pay could have serious consequences for those who are delinquent.

 

[bripat9643]

It is truly unbelievable that posters praise Marxism, ie slavery. regardless of who allegedly supported.

Marx came from the Enlightenment, and his thinking was motivated by a commitment to the scientific method and individual freedom. Obviously, communism didn't live up to that lofty ideal, but you can't blame Marx for that part.

There is no scientific method behind any of Marx's work. He simply made it up from whole cloth.

 

[bripat9643]

People aren't slaves under Socialism. Sweden is socialist. Socialism is another approach to fulfilling human needs, that's all.

Sweden is not socialist - I deflated this lie several days ago, whilst you were so obviously "winning."

To those here it is, with their socialized healthcare, high tax rates, public schools, environmentalism, and generous welfare.

That sounds just like the United States.

 

[georgephillip]

Smith sounds like Marx when he talks about monopolies, anti-trust and the exploitation of labor markets. He was also an anti-globalist who favored Main Street over large corporations. In short, the majority of his views are slightly Left of center.

Smith came from a background of moral philosophy; it seems unlikely he would approve an economic system as fundamentally unethical as capitalism.

 

[EdwardBaiamonte]

Smith came from a background of moral philosophy; it seems unlikely he would approve an economic system as fundamentally unethical as capitalism.

yes it was very unethical for China to switch to capitalism and prevent another 60 million from slowly starving to death under liberalism!
liberalism is ethical for slowly starving 60 million to death. Its obvious!

 

[bripat9643]

Smith sounds like Marx when he talks about monopolies, anti-trust and the exploitation of labor markets. He was also an anti-globalist who favored Main Street over large corporations. In short, the majority of his views are slightly Left of center.

Smith came from a background of moral philosophy; it seems unlikely he would approve an economic system as fundamentally unethical as capitalism.

What's "unethical" about capitalism?

 

[hazlnut]

dear, almost all historians think of him as the founder of capitalism. What makes you so stupid? Marxist wanted public ownership of all industries and small businesses.

Isn't thinking fun?

Yes, sweet pea, you should try it sometime...

The OP was obviously making a sarcastic comment, an exaggeration, to make the point of how little the far-right free market nitwits know about Adam Smith - like his position on Taxes.

The GOP in the House and Senate are going to run this country into the ground if they refuse to raise taxes on the rich.

 

[bripat9643]

dear, almost all historians think of him as the founder of capitalism. What makes you so stupid? Marxist wanted public ownership of all industries and small businesses.

Isn't thinking fun?

Yes, sweet pea, you should try it sometime...

The OP was obviously making a sarcastic comment, an exaggeration, to make the point of how little the far-right free market nitwits know about Adam Smith - like his position on Taxes.

The GOP in the House and Senate are going to run this country into the ground if they refuse to raise taxes on the rich.

All he did is prove that he knows nothing about Adam Smith. Dims have been running this country into the ground for the last 80 years.

 

[EdwardBaiamonte]

The GOP in the House and Senate are going to run this country into the ground if they refuse to raise taxes on the rich.

too stupid and liberal by 1000% we have already raised taxes on the rich ( top 1% now pay 40%-of Federal income taxes-up from 20% under Reagan- and 50% of state Taxes) and what do libturds want most: to tax them more as if doing something stupid over and over again will be helpful.

See why we say liberalism is based in pure ignorance??

 

[georgephillip]

There is no scientific method behind any of Marx's work. He simply made it up from whole cloth.

Marx sought to marry a scientific view of human social arrangements with a muscular conception of human rights. Possibly that's a reason why book sales for Das Kapital rivals those of the Bible?

 

[EdwardBaiamonte]

There is no scientific method behind any of Marx's work. He simply made it up from whole cloth.

Marx sought to marry a scientific view of human social arrangements with a muscular conception of human rights. Possibly that's a reason why book sales for Das Kapital rivals those of the Bible?

yes he sought and failed and thus 120 million human beings slowly starved to death.

 

[Contumacious]

Smith sounds like Marx when he talks about monopolies, anti-trust and the exploitation of labor markets. He was also an anti-globalist who favored Main Street over large corporations. In short, the majority of his views are slightly Left of center.

Smith came from a background of moral philosophy; it seems unlikely he would approve an economic system as fundamentally unethical as capitalism.

What's "unethical" about capitalism?

Capitalism is unethical because

1- it wouldn't let the FCC control the internet
2- it wouldn't let the government steal from taxpayers in order to feed, clothe , insure, educate, and quench the thirst of parasites
3- Under Capitalism SLAVERY would be illegal


.

 

[bripat9643]

There is no scientific method behind any of Marx's work. He simply made it up from whole cloth.

Marx sought to marry a scientific view of human social arrangements with a muscular conception of human rights. Possibly that's a reason why book sales for Das Kapital rivals those of the Bible?

Marx and his followers like to call what he did "science," but there's nothing scientific about it. Can you explain what makes it scientific?

 

[Contumacious]

There is no scientific method behind any of Marx's work. He simply made it up from whole cloth.

Marx sought to marry a scientific view of human social arrangements with a muscular conception of human rights. Possibly that's a reason why book sales for Das Kapital rivals those of the Bible?

Marx and his followers like to call what he did "science," but there's nothing scientific about it. Can you explain what makes it scientific?

Under Marxism criminality is a science.


.

 

[georgephillip]

yes it was very unethical for China to switch to capitalism and prevent another 60 million from slowly starving to death under liberalism!
liberalism is ethical for slowly starving 60 million to death. Its obvious!

Can't we all just get along here?
"What is Capitalism?

"Our understanding of capitalism is incredibly limited. Despite this being the prevailing world economic system, it is not taught until University in the United Kingdom. This means the vast majority of the population have never even had a structured, informed conversation around the mechanics and iterations of capitalism, let alone whether it is ethical or not. People, on the whole, don’t know what it is, what it does, what it means, where it came from or what it replaced."

Is there such a thing as ethical capitalism openDemocracy