Capitalism is NOT Democratic: Democracy is NOT Capitalist

[danielpalos]

I agree, "neither USSR type socialism of US style capitalism is based on economic democracy", but I believe both the USSR and the US are oligarchies of the wealthy elite capitalists.

That is why the equality of equal protection of the laws matters.

 

[georgephillip]

he private label securities market, or PLS, Wall Street’s alternative to the government-backed secondary mortgage markets, grew significantly in the lead-up to the crisis. The expansion of an unregulated PLS market and the development of the ever more complicated financial instruments tied to it are what transformed a housing bubble into the largest financial crisis since the Great Depression.

"We expand the debate on incentives embedded in the originate-to-distribute lending model by presenting evidence on the placement of mortgage-backed securities (MBS) with mutual funds. We do so by capitalizing on a unique testing platform encompassing institutional holdings of private-label MBS and their corresponding underlying collateral risk char..."

Private-label securitization process

 

[georgephillip]

Where is the wealth created by capital in your simplistic cartoon?

What do you know about commodities?

The Labor Theory of Value and Surplus Value

"Once the economy is overtaken by commodities, things that people never imagined could become commodities finally succumbed. Marx offered this description:

"'Finally, there came a time when everything that men had considered as inalienable became an object of exchange, of traffic and could be alienated.'

"'This is the time when the very things which till then had been communicated, but never exchanged; given, but never sold; acquired, but never bought – virtue, love, conviction, knowledge, conscience, etc. – when everything, in short, passed into commerce. It is the time of general corruption, of universal venality, or, to speak in terms of political economy, the time when everything, moral or physical, having become a marketable value, is brought to the market to be assessed at its truest value.' [The Poverty of Philosophy]"

 

[georgephillip]

Now can you explain why it's totally full of shit?

Right after you explain why it isn't, Hater.

How MAGA Hats Became Synonymous with Hate

 

[progressive hunter]

Wrong.
All employees are doing business.
They do labor and are paid for it.
You are only supposed to be taxed on your profit after overhead expenses.
Rent is a valid overhead expense, but they don't let workers deduct that.

employees are doing a job and getting paid for it,, the owners are doing business,,

why is it called an income tax then??

rent for what?? the owners pay the rent for the building the company is in,,

 

[progressive hunter]

Yes it is.
The cost of living is not profit and should not be taxed.

cost of living isnt taxed,, unless you have a link to something no one knows about,,

 

[bripat9643]

Right after you explain why it isn't, Hater.

How MAGA Hats Became Synonymous with Hate

Because it's a big fat commie lie, asshole.

 

[Mac-7]

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.

We are asked to believe that the collectivists just want America to be like Norway or Denmark

But those happy little pockets of “democracy” will not be happy for long without America to protect them

And we need a booming capitalist economy to do that

 

[kaz]

Very little scares conservatives more than equality of opportunity:

Political Economy

"1. Liberalism​

"The liberal ideology stems from the concept of labor and exchange and the use of land, labor, and capital to produce durable goods. Liberal economists believe that economics can benefit everyone and that society can progress with the improvement in the standard of living.

"They think that the wants of the community rather than of individuals are most important for decision-making. They also believe in equal opportunity for everyone and are concerned with the structure of civil society."

You're a liar, that's what conservatives want. It's your side that is focused on equality of results, lying racist pig

 

[danielpalos]

You're a liar, that's what conservatives want. It's your side that is focused on equality of results, lying racist pig

The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States.

 

[Toddsterpatriot]

The point is only profit is supposed to be taxed.
The cost of living is not profit.
It should not be taxed.
To tax the cost of living would violate the survival rights of the individual.

The point is only profit is supposed to be taxed.

If you're a business.

The cost of living is not profit.

Poop isn't ice cream.

To tax the cost of living would violate the survival rights of the individual.

LOL! You should definitely only elect people who don't violate your survival rights.

 

[Toddsterpatriot]

Does not matter if the bubble had already burst or not.
The teaser should not have been able to increase by so much, so quickly, and the LIBOR did spike, greatly increasing the defaults.
Then the home buyers should have been bailed out, not the banks.

Does not matter if the bubble had already burst or not.

Only if you don't understand cause and effect. Or time.

The teaser should not have been able to increase by so much

Why? Did you not understand the contract you signed? Or math?

and the LIBOR did spike, greatly increasing the defaults.

When? How much? For how long? Be specific man.

Then the home buyers should have been bailed out, not the banks

Banks got short term loans that they quickly repaid.
Would a similar "bailout" have helped many home buyers?
What about the actual handouts that were given to bailout homeowners?

 

[Toddsterpatriot]

Yes it is.
The cost of living is not profit and should not be taxed.

Who told you it was a profit? Why did you believe them?

 

[Rigby5]

I think you need to itemize instead of taking the standard deductions.

If I am a home owner, then I can itemize deductions like mortgage interest, capital improvements, property taxes etc.
But if I am a renter, I have to pay for those same things, as well as more to landlord profit, and yet I am unable to take any deductions for it, whether or not I itemize.

 

[Toddsterpatriot]

What do you know about commodities?

The Labor Theory of Value and Surplus Value

"Once the economy is overtaken by commodities, things that people never imagined could become commodities finally succumbed. Marx offered this description:

"'Finally, there came a time when everything that men had considered as inalienable became an object of exchange, of traffic and could be alienated.'

"'This is the time when the very things which till then had been communicated, but never exchanged; given, but never sold; acquired, but never bought – virtue, love, conviction, knowledge, conscience, etc. – when everything, in short, passed into commerce. It is the time of general corruption, of universal venality, or, to speak in terms of political economy, the time when everything, moral or physical, having become a marketable value, is brought to the market to be assessed at its truest value.' [The Poverty of Philosophy]"

What do you know about commodities?

A shit-ton more than you.

Marx offered this description

Marx was funny. Especially when he talks about economics.

 

[Toddsterpatriot]

But if I am a renter, I have to pay for those same things, as well as more to landlord profit, and yet I am unable to take any deductions for it, whether or not I itemize.

That's when you take the standard deduction.

 

[Rigby5]

Does not matter if the bubble had already burst or not.

Only if you don't understand cause and effect. Or time.

The teaser should not have been able to increase by so much

Why? Did you not understand the contract you signed? Or math?

and the LIBOR did spike, greatly increasing the defaults.

When? How much? For how long? Be specific man.

Then the home buyers should have been bailed out, not the banks

Banks got short term loans that they quickly repaid.
Would a similar "bailout" have helped many home buyers?
What about the actual handouts that were given to bailout homeowners?

Wrong.
All Adjustable Rate Mortgages likely are deceptive and should be illegal.
But the buyers are told that the adjustable rate will be based on the economy, and they were lied to.
When the economy tanked, the adjustable mortgage rates close to doubled.
No one could afford that.
It was outright fraud and theft by the banks.
Nor did the banks have to foreclose.
The rate did not have to increase.
There was no new expense to the banks.
They could have kept things at the same profitable rates, without foreclosing.
But they wanted the defaults.
Then they got all the previous payments for free, and the buyer lost everything, including down payment.

But I would NEVER take an ARM.
They are foolish and deceptive.

 

[Rigby5]

Who told you it was a profit? Why did you believe them?

It is not hard to itemize the cost of living, just as companies do with itemizing their cost of doing business.

 

[Rigby5]

That's when you take the standard deduction.

The standard deduction is less than a third of what it actually cost to live.
That is totally unfair.

 

[danielpalos]

If I am a home owner, then I can itemize deductions like mortgage interest, capital improvements, property taxes etc.
But if I am a renter, I have to pay for those same things, as well as more to landlord profit, and yet I am unable to take any deductions for it, whether or not I itemize.

Renters: 7 Tax Deductions & Credits You May Qualify For | The Official Blog of TaxSlayer

Rent itself can't be deducted from your taxable income, but there are other tax breaks you can claim to lower your liability when you don't own a home.

www.taxslayer.com