Capitalism is NOT Democratic: Democracy is NOT Capitalist

[georgephillip]

Yes. Let's soak the people with ability. Those greedy bastards, hoarding all the ability to themselves. They should give me free shit

"What makes you believe greedy bastards with the ability to acquire vast amounts of "unearned income" need more money?

The inversion of Classical Economics | Michael Hudson

"The essence of classical economics was to reform industrial capitalism, to streamline it, and to free the European economies from the legacy of feudalism.

"The legacy of feudalism was landlords extracting land-rent, and living as a class that took income without producing anything."

 

[georgephillip]

What's your point, moron?

Milton Friedman was NOT a disciple of Keynes, Loon.

 

[georgephillip]

$15 billion taxes on a $28 billion gain is not 15% or 20%.

How would $15 billion (or $25.2 billion) affect the greedy freeloader's net worth?

Visualising Elon Musk’s vast wealth in four charts

 

[Toddsterpatriot]

Do you know the difference between primary and secondary securities markets?
Secondary Securities Market

Secondary Securities Market

Do you know what percentage of the total value of Wall Street's equity is new money going into firms as opposed to speculators' bank accounts?

"Look closely at the stock market and it betrays some fundamental assumptions about the creation of wealth in today’s markets.

"Only 1% of the total value of equity on Wall Street is actual investment in the sense of new money going into firms.

The Divine Right of Capital by Marjorie Kelly

"The remaining 99% is speculation – people buying and selling existing stock in the aftermarket of equity.

"In the preface of the book, Kelly makes the good analogy of buying a car.

"When you buy a new car, the money goes to Ford.

"But when you buy a used car, it all goes to the previous car owner – Ford doesn’t get a cent.

"Stocks are the same – and the vast majority of money sloshing around is just trading hands and not actually being invested in firms."

Do you know the difference between primary and secondary securities markets?

How well do primary markets work if you don't have a strong secondary market?

"The remaining 99% is speculation – people buying and selling existing stock in the aftermarket of equity.

That's awful!!! People freely buying and selling existing stocks.
There ought to be a law against that, eh comrade?

 

[Toddsterpatriot]

How would $15 billion (or $25.2 billion) affect the greedy freeloader's net worth?

Visualising Elon Musk’s vast wealth in four charts

OMG!!

How much of that did he steal from you?

Freeloader? DURR. How many jobs did he create?
Is he selling a product that people are freely buying? That bastard!!!

 

[bripat9643]

"What makes you believe greedy bastards with the ability to acquire vast amounts of "unearned income" need more money?

The inversion of Classical Economics | Michael Hudson

"The essence of classical economics was to reform industrial capitalism, to streamline it, and to free the European economies from the legacy of feudalism.

"The legacy of feudalism was landlords extracting land-rent, and living as a class that took income without producing anything."

Your first mistake: Capitalists are not the same as Feudal landlords. The later obtained their land by grant from the king. Capitalists have to obtain their land or capital by buying it.

 

[bripat9643]

How would $15 billion (or $25.2 billion) affect the greedy freeloader's net worth?

Visualising Elon Musk’s vast wealth in four charts

Who is the "greedy freeloader," Musk? How is he a freeloader?

 

[bripat9643]

Milton Friedman was NOT a disciple of Keynes, Loon.

I'm well aware of that. How is that relevant to this discussion?

 

[georgephillip]

.I feel like I’m on board with “eat the rich” mentality. Although, I’d label it as more “eat the elite”. The inflation, gas prices, supply chain issues, gutting of small business, all of it is being done on purpose. Build back better and the great reset is the elites trying to institute modern day sharecropping on a global scale.

Bloomberg and others reported on Joe Biden's commitment to economic elites in the summer of 2019:

Biden to rich donors: "Nothing will fundamentally change"

"Former Vice President Joe Biden assured rich donors at a ritzy New York fundraiser that 'nothing would fundamentally change' if he is elected.

"Biden told donors at an event at the Carlyle Hotel in Manhattan on Tuesday evening that he would not 'demonize' the rich and promised that 'no one’s standard of living will change, nothing would fundamentally change,' Bloomberg News reported..."

"'I mean, we may not want to demonize anybody who has made money,' he said.

"'The truth of the matter is, you all, you all know, you all know in your gut what has to be done. We can disagree in the margins but the truth of the matter is it’s all within our wheelhouse and nobody has to be punished. No one’s standard of living will change, nothing would fundamentally change.'

"Biden went on to say that the rich should not be blamed for income inequality, pleading to the donors, 'I need you very badly.'

"'I hope if I win this nomination, I won’t let you down. I promise you,' he added."

 

[georgephillip]

What the hell is "excess wage?"

How many links do you need?

Figure 2: Historical overview of excessive wages in the financial sector

 

[georgephillip]

Call it whatever you like. But the whole "from each according to ability" thing just seems naive. People don't like being used. They'll push back.

You're too naive to notice how you are being used under capitalism, so maybe you'll find this interpretation more worldly:

From each according to his ability, to each according to his needs - Wikipedia

"The French socialist Saint-Simonists of the 1820s and 1830s used slightly different slogans such as,' from each according to his ability, to each ability according to its work'[8] or,' From each according to his capacity, to each according to his works.'[9]

"The origin of this phrasing has also been attributed to the French utopian Étienne-Gabriel Morelly,[10][11] who proposed in his 1755 Code of Nature 'Sacred and Fundamental Laws that would tear out the roots of vice and of all the evils of a society.'"

 

[georgephillip]

The last thing we need is government deciding how much bankers get paid

You prefer bankers bribing government to decide how big their bonuses should be AFTER crashing the global economy?

 

[georgephillip]

BTW, "cracker" is a racist term

fyi: crackers are racists.

 

[georgephillip]

So democracy is having a vote so you can vote for a representative to represent you in government, and you think capitalism stops this?

I'm pretty sure rich voters have more influence with their representatives than the vast majority has

 

[georgephillip]

They are all communists. The Democrat party platform is indistinguishable from the Communist party platform.

"Former Vice President Joe Biden assured rich donors at a ritzy New York fundraiser that “nothing would fundamentally change” if he is elected.

"Biden told donors at an event at the Carlyle Hotel in Manhattan on Tuesday evening that he would not 'demonize' the rich and promised that 'no one’s standard of living will change, nothing would fundamentally change,' Bloomberg News reported.

"Biden’s assurance to donors in New York came shortly after his appearance at the Poor People’s Campaign Presidential Forum in Washington on Monday."

Biden to rich donors: "Nothing will fundamentally change"

 

[bripat9643]

You prefer bankers bribing government to decide how big their bonuses should be AFTER crashing the global economy?

I prefer no government at all. Then there is no one to bribe.

 

[georgephillip]

All humans are mammals.

All Libertarians are ???

 

[georgephillip]

The kind of democracy george advocates is unlimited majority rule. It's not about representation. It's about getting what you want out of others through force.

 

[danielpalos]

I prefer no government at all. Then there is no one to bribe.

Only private sector bakers?

 

[dblack]

All Libertarians are ???

... wise to the propaganda you're disseminating.