Extreme Capitalism/Power can lead to a "Poorer Society"!

[Luckyone]

Too much power in the hands of the few, especially if there are no restrictions or controls of that power, will lead to a poorer society.

Trio of professors win Nobel economics prize for work on post-colonial wealth​

However, they found that in countries where the aim was to exploit the Indigenous population and extract resources for the colonisers’ benefit, the impact has been detrimental, and resulted in far poorer societies, leaving some countries trapped in low economic growth cycles.

“The laureates demonstrated that this led to a reversal of fortune. The places that were, relatively speaking, the richest at their time of colonisation are now among the poorest,” the Nobel prize announcement said.

“This is an important reason for why former colonies that were once rich are now poor, and vice versa,” it added.

However, the academics said the effect can be reversed if a country can “break free of its inherited institutions to establish democracy and the rule of law. In the long run, these changes also lead to reduced poverty.”

History has shown this to be true. Here is the perfect proof of that. The statistics do not lie:

Was the US economy good in the 1950s?

By the mid-fifties, the US manufactured 2/3 of all the world's goods. Unemployment was very low, personal income doubled and individual purchasing power jumped significantly. It was a decade of prosperity: the American Dream was becoming a reality.

and

When was the golden age of the US economy?

The Golden Age of Capitalism spanned from the end of the Second World War in 1945 to the early 1970s, when the Bretton Woods monetary system collapsed. It was a period of economic prosperity with the achievement of high and sustained levels of economic and productivity growth.

This was the era where the rich were taxed much higher than today and has less power than today. Where Democracy was at its best.

and here more proof that Democracy works:

 

[Mac1958]

Too much power in the hands of the few, especially if there are no restrictions or controls of that power, will lead to a poorer society.

The Right has been conditioned to believe that regulation is the bane of capitalism, when the fact is that proper, efficient regulation is a critical and required component of capitalism. They have also been conditioned to believe that massive wealth inequality doesn't represent a clear and present danger, and just begs for an American version of the French Revolution. So most of their "ideas" on capitalism are shallow and not thought through.

The Left, as usual, takes things too far in the opposite direction. It should be about balance, equilibrium.

 

[DStar777]

Too much power in the hands of the few, especially if there are no restrictions or controls of that power, will lead to a poorer society.

Of course that is not what capitalism is. You're reference to the term "power" will cause many to infer that "capitalists" exercise a form of political power (the power to make and enforce laws) when in reality they posess no such power under real capitalism. What they do posess is the right to produce and trade in a free market.

 

[Votto]

Too much power in the hands of the few, especially if there are no restrictions or controls of that power, will lead to a poorer society.


History has shown this to be true. Here is the perfect proof of that. The statistics do not lie:

Was the US economy good in the 1950s?

By the mid-fifties, the US manufactured 2/3 of all the world's goods. Unemployment was very low, personal income doubled and individual purchasing power jumped significantly. It was a decade of prosperity: the American Dream was becoming a reality.

and

When was the golden age of the US economy?

The Golden Age of Capitalism spanned from the end of the Second World War in 1945 to the early 1970s, when the Bretton Woods monetary system collapsed. It was a period of economic prosperity with the achievement of high and sustained levels of economic and productivity growth.

This was the era where the rich were taxed much higher than today and has less power than today. Where Democracy was at its best.

View attachment 1026177

and here more proof that Democracy works:

View attachment 1026174

With all of corporate America in the tank for Kamala and the Dims, it is hard to argue really

 

[Luckyone]

Of course that is not what capitalism is. You're reference to the term "power" will cause many to infer that "capitalists" exercise a form of political power (the power to make and enforce laws) when in reality they posess no such power under real capitalism. What they do posess is the right to produce and trade in a free market.

Capitalists are greedy and they use their money and power to get more for themselves. When taxes are low and they are allowed to do what they want, the people get poorer and the economy does not grow as much. Economics 101

 

[Luckyone]

With all of corporate America in the tank for Kamala and the Dims, it is hard to argue really

Kamala is a Democrat and that is Democracy. Trump and the Far Right are all about Autocracy and that is the opposite of Democracy.

 

[sartre play]

The Right has been conditioned to believe that regulation is the bane of capitalism, when the fact is that proper, efficient regulation is a critical and required component of capitalism. They have also been conditioned to believe that massive wealth inequality doesn't represent a clear and present danger, and just begs for an American version of the French Revolution. So most of their "ideas" on capitalism are shallow and not thought through.

The Left, as usual, takes things too far in the opposite direction. It should be about balance, equilibrium.

Thanks,
All should read more C DICKENS, He tried to warn us with the many books he wrote so many long years ago.
About the power of money & keeping the working man down.

 

[LordBrownTrout]

We're closer to extreme govt. No one is forcing anyone to buy stuff but the federal govt sure does love it when the masses buy stuff, especially raking in all those taxes.

 

[Luckyone]

We're closer to extreme govt. No one is forcing anyone to buy stuff but the federal govt sure does love it when the masses buy stuff, especially raking in all those taxes.

You mean to say that it was different in the past?

 

[LeroyDumonde]

Capitalists are greedy and they use their money and power to get more for themselves. When taxes are low and they are allowed to do what they want, the people get poorer and the economy does not grow as much. Economics 101

And you're saying that this phenomena didn't exist between 1945 and 1980?

 

[Luckyone]

And you're saying that this phenomena didn't exist between 1945 and 1980?

No, what I am saying is that Capitalism between 1950 and 1980 was controlled by regulations and limits and that is what made "evrey American" benefit from it. When you allow Capitalism to run rampant (as Trump did when he got rid of the regulations and limits), it gets bad.

 

[LeroyDumonde]

No, what I am saying is that Capitalism between 1950 and 1980 was controlled by regulations and limits and that is what made "evrey American" benefit from it. When you allow Capitalism to run rampant (as Trump did when he got rid of the regulations and limits), it gets bad.

Capitalism is controlled by more regulations now than in 1980.

 

[BrokeLoser]

No, what I am saying is that Capitalism between 1950 and 1980 was controlled by regulations and limits and that is what made "evrey American" benefit from it. When you allow Capitalism to run rampant (as Trump did when he got rid of the regulations and limits), it gets bad.

When you say “regulations and limits” are you really wanting to say you want higher income taxes for Americas best, most productive citizens? Be honest?

 

[Luckyone]

When you say “regulations and limits” are you really wanting to say you want higher income taxes for Americas best, most productive citizens? Be honest?

Absolutely yes, among other things.

The loopholes presently in place makes them actually pay less of a percentage than normal Americans.

In addition, they were paying high taxes between 1950 and 1980 and they (and the entire U.S.) were doing fine then. Why should it be different now?

 

[Luckyone]

Capitalism is controlled by more regulations now than in 1980.

Yes but less taxes than in 1980

 

[BrokeLoser]

Absolutely yes, among other things.

Your pitch wasn’t very well thought out.

The loopholes presently in place makes them actually pay less of a percentage than normal Americans.

That’s all lies…here’s the actual data.

Summary of the Latest Federal Income Tax Data, 2023 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.

taxfoundation.org

In addition, they were paying high taxes between 1950 and 1980 and they (and the entire U.S.) were doing fine then. Why should it be different now?

Everybody sane knows the more money the treasury takes in the more they spend on liberal pet projects like illegal aliens, healthcare and education for Mexico’s children etc etc.
Good real core Americans want their fellow countrymen to pay less taxes and for your Father Government to spend less money.
You failed on this one bud.

 

[LeroyDumonde]

Yes but less taxes than in 1980

Government revenues have increased since 1980, even after correcting for inflation and population growth.

 

[Luckyone]

Government revenues have increased since 1980, even after correcting for inflation and population growth.

First of all:

The government needs more income now than in 1980 primarily due to increased spending on social programs like Medicare and Social Security as the population ages, rising healthcare costs, advancements in technology requiring increased infrastructure investment, and a larger overall population, all contributing to a greater need for government revenue to fund essential services.

In addition, the income inequality has exploded. Percentage-wise, the rich are contributing less now than they were contributing in 1980. This means that Americans are receiving less of the talent that the rich offer now than then. That is a negative to the nation.

This is a nation and not a place for the few to use. We should be acting as a team and not as a stepping stone for the few

 

[LordBrownTrout]

Absolutely yes, among other things.

The loopholes presently in place makes them actually pay less of a percentage than normal Americans.

In addition, they were paying high taxes between 1950 and 1980 and they (and the entire U.S.) were doing fine then. Why should it be different now?

Why not lower taxes on everyone? Let's make the govt do without for once.

 

[Luckyone]

Why not lower taxes on everyone? Let's make the govt do without for once.

Are you serious? Are you using your mind?

Why don't we just simply become a nation with no government and each of us accomplish what we need (education, health, infrastructurem, etc) by ourselves. Let the strong win and the week get destroyed, right?