Capitalism is pretty clever

submitted by RatherSmallPotato from self.Capitalism

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[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

I'll give it a go. 50% of all payroll bypasses the country the 99% of us. 70% of all money created goes directly to the one% the fed is pumping billions into overnight lending to keep rates low. All of the money being borrowed by banks at near cost. All of that money is borrowed by us we pay for it's printing and the interest on the debt is how much money we produce even though we can't ever us that money ever again. Hording by the rich and wall Street. We have to correct this with taxes and federal pay limits. They won't give it back and the rich don't pay as much as the average by percentage of income they pay taxes. This imbalance is not going to correct itself. And we all pay for 24trillion of debt. Created not for the public good just the very few. The dollar is the world currency. A lot of this money was never in America to begin with just backed by the USA. It's rigged against every one and reflects in how America treats it's workers less then they treat if filthy rich, why it matters? Let's say you give 80 million folks a five dollar and hour raise... That's 400 million an hour with no increase on taxes. Every hour of every work day.... Now the kid getting your burger he gets a raise. Being still broke he wants to save it but needs to fix his her car. You know 80% of America will still be living pay check to pay check. They will spend that money all 400 million every hour everyday. Thats the economy in a nut shell this kind of spending will translate to trillions being spent every year that we don't have now. My company will see a 13% quarter increase with the minimum wage increase and save another 7% buy Medicare for all. Even With the payroll tax. That money is needed right now an right here at home where America creates the economy. Right in your back yard. Let's face it inflation happens even with out our help we fix that with a living wage law that adjusts. For the common good. People spending is the only way forward. Holding us back is foolish and mostly short sighted for all business big or small. That guy or two will fix their car and keep a mechanic employed. Just the way it is.

[–]One_Jack_Move 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

Hey, thanks for your reply.

I think I agree with you in that hording money is bad for the economy, and that spending is good. That's why I think incentives are so powerful and important. We need to encourage people with money to spend it. And I also believe it is important to encourage people to work (if they are able).

But in all your points, I'm not seeing why it's wrong that some are doing much better than others (income inequality) as long as, by-far, most are doing better overall. Sounds like you feel that percentage-wise, the rich will spend less. That may be true, but I'd like to see some study on it. It's my understanding that the rich don't just pile their money up in a vault, but instead invest it (there is incentive to do so), and investing is seen as very good for the economy.

Capitalism is a system that incentivizes productivity (aka profit), and in my opinion that is necessary or we risk doing the opposite. And I think one could see, if you encourage people to be unproductive then everyone get's poorer and worse off.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Capitalist will be just fine with a hair cut. No where in the world is a better market then the USA. Unless we continue to starve the worker. I think your a?most there. Because the filthy rich are not hurt by what ever we do, they are simply hurting us by holding America back. The simple fact we can spend that money now it all goes right back to them anyway unless you still fear socialism as taking over the means if production? Nobody is calling for that. My leaning is honest our little business is looking for more people spending money. Same as them. There is nothing that hurts the business man worse that 8 bucks an hour😜 progressive is the way out for the rich.

[–]One_Jack_Move 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

I really wish you would try to (more directly?) answer my primary question about why income inequality is supposed to be bad.

But since we are expanding our thoughts, I will say I agree that lots of jobs out there suck. But at least a suck-ass job is better than starving... If history is to be our guide, the only way to reach a Maxist utopia is to have capitalism pay for it.

And we aren't there yet, not for many generations I think. Even in an isolationist USA. Maybe with a discovery of unlimited, free, and clean energy we might make it there (and keep it going). But that's only if there is a way to keep power hungry individuals in check as well.

I'll go out on a limb and say you agree with some of that, and I might even say that we really only disagree on how much socialism our economy can support. I would agree that the richest can take a "haircut" as you put it, but it's tricky, we mustn't go too far. Good economies have been destroyed by good intentions.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

400 million dollars an hour with a five dollar raise. Explained enough. No body gets hurt with good policy it why you work 40hours a week and enjoy the weekend taking care of workers is the only thing you need to do as a business owner any less then that it's your own fault if we do correct the real problem the banks.