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+--- Thread: Why is Capitalism failing in the USA? (/thread-42048.html)
- Glenn Keys - 11-18-2012 01:09 PM
We would be much better off, but when you are not able to let it keep working without getting hit with friendly fire (I really can't say about the friendly) from the Left, you get setbacks that become harder and harder to smash.
Quick opinion, I believe if our Fore Fathers could be here now, they would be crippled up crying in shame. seeing their country in the shape it.
Crying for all the lives lost in war, for things not to go in this direction.
- anonymous - 11-18-2012 01:09 PM
Capitalism has to have a hangover for every boom it creates. The government is messing around because it gives it popular support.
- ****** - 11-18-2012 01:09 PM
you can blame Obonga for that commie shi*t
- Joe - 11-18-2012 01:09 PM
It is not failing. Government is growing as a result of those on the left believing that it is the responsibility of the US government to provide a host of social entitlement programs that are failing in Europe and leading to austerity cuts in nearly every member state and in England.
Capitalism is not a government system, it is an economic model.
- brucec83 - 11-18-2012 01:09 PM
Capitalism failed and we abandoned it during the late 19th, early 20th century. Now the word is just used as a talking point.
Consider that Capitalism can be defined as an economic system in which 1) the means of production are privately owned and controlled for private profit; 2) all decisions regarding production are made by owners in the free market; and 3) profit is distributed and control exercised by owners in proportion to their investment.
Want proof. In 1840 we abolished indentured servitude. In 1868 we abolished slavery. In 1869 we mandated an eight hour day. In 1890 we agreed that the government could break up companies which promoted restraint of trade. In 1890 we enacted a corporate income tax. In 1934 we abolished child labor, agreed workers could unionize, be paid for injuries, securities and exchange, fair labor standards etc. etc.
I submit that as the government is entitled to a 35% share of the profits of every business, it is not completely privately owned, but 65% privately owned. It is operated for profit, with the proviso that it must be operated in accordance with the above and numerous other laws and regulations. Finally, much of the profit is distributed to the government and many CEOs who are paid enormous bonuses based on profitability, not to owners.
So what we have is neither capitalism nor socialism, but a Mixed Free Market Social Democracy.
- Snowcat - 11-18-2012 01:09 PM
As another answer pointed out, capitalism is not a form of government. The US has a democratic republic as its government. Capitalism is an economic system based on profits flowing to the owners of capital and with most capital being in private control. We do not have a purely capitalistic system as there are areas of government involvement in the economy. Some government involvement improves the market/capitalistic system by providing for fair competition, equal regulation so that good companies don't have to compete with bad ones in an unfair way. Government also provides a framework for currency and financial transactions. We have had periods of less government involvement, but have chosen through democratic means to have more. I think this is partly due to the increasing complexity of the society and the complex market system that creates winners and losers. Since we don't always approve of the outcome, we involve the government. The current state of the economy is typical of the cycles found in capitalistic systems. The boom/bust cycle was even more ruinous when we had less government regulation in the 1800s. I'm not sure if the answer now lies with more government or less government, my guess is that a certain amount of regulation of the financial sector could have prevented the worst abuses that helped to make this last recession worse.
- elizabeth - 11-18-2012 01:09 PM
abuse. Greed gone wild. I wish people would stop talking about social programs that they themselves are probably on in 1 way or another. If capitalism was so groovy we wouldn't be in this financial crisis. The rich bankers got out of control & the gov't. HAD to step in & save the rest of us (altho' the unemployed surely disagree). They just want to feed their children before the rich rape them anymore.
- Dylan Lewis - 11-18-2012 01:09 PM
Well in a capitalist government the people must work hard for money in communist no one cares unless you are the government. So we are failing because the people are getting to used to freedom and aren't working hard as a child to adult. I am going to be a politician shooting for presidency and frankly the people are like the governments child and we are becoming spoiled in general. Kids only realize life is hard when they're grown and that there wasted. So then the government is trying to teach a lesson by taxing us and getting more involved. So picture leaving your kid alone for a while, ya they might fend for them selves and learn a few things on adventures of there own but eventually they'll get to spoiled (free) and do what they want.(not pay taxes or work hard in school or follow the law) if the newer generation will work hard we will succeed in making a total capitalist country.(be completely free) So teach your kids to work hard and people wouldn't need those of the hierarchy trying to control them.( the government taxing and interfering with civilians. It's too late for the government to do much but the people must control them selves to be free from their chains.(we have to guide our children right and expect the best out of them)
America will suffice but only with the people guiding us forward.
- ugotthat - 11-18-2012 01:09 PM
Why turn a profit if tax breaks and foreign income makes up for the lost revenue? Ever hear of a loss leader? The tax extension that just passed has breaks for corporations that invest overseas.
New tax law packed with obscure business tax cuts
http://news.yahoo.com/s/ap/us_tax_cuts_goodies
There is a generous tax break for banks and insurance companies that invest overseas.
An exemption that allows banks, insurance companies and other financial firms to shield foreign profits from being taxed by the U.S. through 2011. Cost: $9.2 billion.
That's pretty funny. Americans can't get a loan at home but American banks are free to help the economy of countries other than America. We're extending tax breaks to companies that create jobs outside of the U.S. But not here. Obama tried to stop that and the Republicans took issue with that idea.
America may have the highest "TAX RATE" but after all those tax breaks no one pays anywhere close to it.
Why your tax bill is higher than GE's
http://articles.moneycentral.msn.com/Taxes/Advice/why-your-tax-bill-is-higher-than-ges.aspx
GE got a 1.1 BILLION dollar refund. On revenue of $157 BILLION. A company has $157 BILLION in revenue but pays not a dime in taxes?? That's some break. Can I get one too??
"But the tax benefit of overseas operations is the biggest reason many multinationals end up with lower tax rates than the rest of us. It makes sense that multinationals "put costs in high-tax countries and profits in low-tax countries,""
Not ready for that 'adult conversation' on debt?
http://www.msnbc.msn.com/id/40573747/ns/politics/
CBO predicts that by 2016 interest payments will be larger than military spending. All that interest is because of UNFUNDED tax cuts. Meanwhile corporations are reporting record profits.
Americans have screwed themselves right into the ground. China is doing phenomenal thanks to our propensity for cheap goods and no taxes.
- гà¹à¹“คгє - 11-18-2012 01:09 PM
Because we don't have true capitalism. We have a system where they privatize the profits (so the rich get richer when things are going well) and socialize the losses (so all of us have to pay for it when things aren't going well). True capitalism would have allowed all the financial firms to fail instead of being bailed out.