This is what Democratic socialism is all about:
Let the engine of capitalism generate wealth (as it does so better than any other economic system) … but then make sure that wealth is going to the people who generate it.
If the top is getting more than their fair share, redistribute it through government programs that benefit the workers and their families.
We need to do this nationwide so that tax cheats can’t just run away to a different state… And we need to do it at much higher level that recognizes the reality that no one has ever EARNED a billion dollars. They’ve only stolen it from their workers because of a rigged government and legal system.
And by the way, the rich should be super happy if we able to get this done, because the alternative is that we keep heading down the current path until the working class gets so poor that they can no longer feed their kids… and at that point, history tells us, the guillotines come out.
They won’t be happy about it. You are right, they should be. But, they don’t have that kind of perspective.
Being rich isn’t about money, it’s about ego. They think they could solve this with better outcomes and efficiency themselves, even though they will never actually do it.
It’s why union busting is so popular from otherwise “good” companies run by “socially minded” executives. It’s why companies will continue to amass wealth to the point where it negatively effects customers ability to purchase their products. It’s why rich individuals continue to amass wealth when it doesn’t really improve their quality of life, they could just stop working.
Because to them it’s just a contest. They just need to show they are better than someone else; first one person, then another, then another, real world outcomes and everyone else be damned. They will take it as far as they’re allowed until no one is left and everyone’s lives and the planet are catastrophically ruined.
Let’s not forget, rich people like to treat their wealth like an Arcade leaderboard competition.
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Good post!
Does capitalism really generate wealth better, or is it the industrial machinery? Major confounding factor there
Well the USSR did also have a huge industrial machinery. But one thing that seems to emerge as a lesson from its downfall is that it is really hard to steer an economy with quotas and plans from the top.
A good market usually gives better incentives for people at every level. The problem is getting a good market which is definitely not the same as the libertarian dream of a super free market. Without good regulations it’s really easy for markets to get captured or become exploitative.
Some thinks should never be privatised(like infrastructure). And I think lots of industries would benefit from a state run (mostly nonprofit) competitor.
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Capitalism. Full stop.
The issue is about economic efficiency.
Take a look at why communism failed: When resources are distributed by a central authority, it doesn’t matter how well intentioned they are, at best they can only approximate which goods will be valued most by which individual at any given time. People would end up with an abundance of stuff they didn’t want, and a deficit in things they needed.
In a free market, supply and demand are constantly adjusting on an individual level with every transaction. Can’t get flour at the price I want? Fine, I’ll get potatoes. Can’t get flour or potatoes? Maybe a communist government thinks rice would be a good substitute.
But if it’s money in my hand, maybe I know I’ve got some other carbs and starch, and if I can’t get flour or potatoes, my money would best go to medicine or shoelaces… the point is, I’m setting my own priorities, and they aren’t always related or predictable.
Maybe I really want shoe laces, but they aren’t worth $6 to me. Maybe I’d pay 50 cents for them, otherwise, I’d rather use butchers twine, for a fraction of the cost, and just resign myself to retying my shoe.
Capitalism allows people to be nimble and adaptive. Communism was a: you take what you get, and that’s IT.
So people were getting things they didn’t value, and highly valuing things they couldn’t get, and it was just … inefficient.
Why would the rich be happy about that lol. They could give a fuck less if they burn the world down and people starve.
Oh hey look, it does trickle down. You just have to poke the holes yourself.
You mean we can’t just rely on the benevolence of wealth hoarders to keep society afloat?
Imagine telling people the benevolence of the rich will lift everyone, in a system built to reward NOT BEING BENEVOLENT. With a straight face.
I couldn’t keep a straight face repeating anything from a republicans mouth with any level of seriousness.
One thing that is eye opening is looking into the education system as a place to indoctrinate kids. Now here me out. The fringe right were not wrong. Except they didn’t go far enough. The vast majority of current executive class come from private education streams. The executive class are what rule us. They make the rules like pay, benefits and just about every other part that of our society as they also buy the politicians that serve them. Private schools were untouched by the fringe rights claims of indoctrination because it is where you can actually see the way these schools train new generations to worship at the feet of Adam Smith and hate on social programs as part of some conspiracy against these private institutions. Nobody cares about brain washing the labour. The real indoctrination is happening at the most prestigious private schools and those kids go on to be the next Musk, Jobs, Gates, Clinton, Bush
They don’t tell you that the trickle we feel from trickle down is an increasingly thin stream of piss
The idea that we require children to go to school but don’t feed them healthy food automatically when they’re in class is insane. We’ve got money for all the fighter jets but can’t feed kids.
The sad thing, is that there are people out there the seem to think that “hunger is a good motivator”.
And I really just want them to be hungry for the remainder of their lives.
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Increased million dollar per year income tax. Not millionaires tax. Its very different.
Well at the moment the revenue is not paying for the school lunches, the text says it will in 2024. I wonder if this will work out, or if the rich will leave as many opponents of rich-taxes often argue.
Sadly this is still just another income tax rather than a wealth tax, despite the name. It won’t affect the truly rich
Can we try to fix the T a bit, too?
Best we can do is smokeless fire.
I guess that’s technically an improvement over smoky fire.
