The whole essence of socialism is public ownership. And you could call it anything 2.0, if you are going to argue that even though a core tenet has been abandoned it is still the original concept.
You could well be on to something here. All taxpayers own GMs liabilities, for a time, to save it. But later, after it's saved, do all taxpayers get a share of GM's profits? Perhaps. But it's highly differential; I suspect the river is choked to a creek by the time all the diversions have been made.
But you see what I'm getting at here right? Citigroup is our nations largest bank. And GM is our largest manufacturer. These are not little companies. And I've heard rumblings about the government taking over the airlines. And then throw in green energy. The government for all practical purposes owns that industry. They own the defense industry. I mean what's left? We're getting there man.
What I'm saying is that we're not getting there, if we're both talking about socialism still, if only the costs are being given to the taxpayers.
No...you're not listening. The tax payers are getting the distribution as well, just not the middle class. The rich are getting the inflation and the poor are getting the subsidy. You're not seeing this? Really?
Yes, it's definitely a hybrid of crony capitalism/kleptocracy at the upper echelons of government/conglomerates bridged together thru the lobbyist network. To appease the masses (wards of the state), generous social welfare programs are expanded and extended. Likewise, public sector unions are given generous pay packages and benefits, with mandatory raises, etc...
------------------------------------------------------------------------------- http://www.cfr.org/industrial-policy/evolving-structure-american-economy-employment-challenge/p24366 "They note that the American economy has seen the lower and middle components of the value-added chain moving to the rapidly growing markets abroad and warn that soon higher-paying jobs may follow low-paying jobs in leaving the United States. The actions of the free market have made goods less expensive for Americans, but the free flow of labor and capital has also diminished the employment opportunities available in the United States and will, the authors warn, continue to do so at all levels of society.