Quote:
Originally Posted by Brian249x
Whereas under unfettered capitalism competition had been wiped out by Standard Oil and U.S. Steel creating monopolies. Unfettered capitalism is much like slavery and communism.
"Whenever I hear anyone arguing for slavery, I feel a strong impulse to see it tried on him personally." - Abraham Lincoln
"Whenever people go into politics and they try to say that Communism was a good thing, I say, 'Go ahead and live in a Communist country then, if you think it's so great.' " - Martina Navratilova
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I am completely against warmongering for the benefit of multi-national corporations and banks. I am also against the exploitation of third world labor. The diamond trade is one particularly disgusting practice.
All I would like to see is companies being able to compete without government intervention and favoritism on behalf of certain businesses over others. The mindset of "too big to fail" should never enter into the conversation. The bailout was a perfect example of why we don't have competition in the marketplace. It's also a reason why it's so damn hard for people to get the money necessary to start up a business and compete against the established ones. This is why the corporate tax needs to be addressed. Small businesses cannot hire teams of lawyers to exploit tax loops like a fortune 500 company can. That isn't competition, it's corporatism.
Remove all tax loops so that they cannot be exploited, and then lower the corporate tax. Ironically, these larger companies may end up paying slightly more than they did when they could protect much of their revenue from taxation.
Economic determinism, meaning the pursuit of profit as the highest virtue for a business, is also deplorable.
I'm in complete agreement that the current US economic model needs to be overhauled. The only problem I have is saying we have a free market capitalist system. By definition we don't.
Just another reason to strip the federal government of much of its power, to get back to what was intended in the first place.