Captain Oblivious thinks corporate America pays no taxes so they're not a factor. In reality, the effective corporate tax rate in the U.S. is the highest in the OECD which ultimately drives jobs out of the U.S., stifles wage growth and lowers the standard of living by discouraging domestic capital formation and foreign investment. China used to have a much higher effective tax rate but was wise enough to realize the economy is global and lowered it. Some of our politicians don't understand this and think they can stick it to the evil corporations in a vacuum without affecting jobs and wages.
You make a good point. There was too much risk in letting a billion Chinese go the route of North Korea. We could have, and should have done a better job of managing their growth, but that would not have generated the profits which corporate America has enjoyed. Our incompetent and corrupt government facilitated the mess when they should have been managing it. Government in and of itself is not the problem. A corrupt government, bought and paid for by the globalists in corporate America...that's the problem. The jobs lost aren't coming back and unless there's some grand new technology on the horizon we're in trouble, big trouble. And just like a China living in abject poverty, America will be a very dangerous place as well, for us and the world. Couple hundred million people aren't just going to lay down and die. But back to the point of the topic on socialism. I don't see 666 or any of the other corporate thug apologists giving a good explanation of why it's OK to socialize losses, while profits are private. If socialism is so bad, then it's bad for the corporations too, not just the working class trying to slug out a living wage from these greedy bastards. Capitalism without business integrity, and moral obligation to help those who helped you is doomed to fail.
There's a grain of truth in what you're saying but how can one reason with someone who's spewing populist horseshit like this? Taxes aren't relevant to corporate America. They don't pay any. http://www.elitetrader.com/vb/showthread.php?s=&postid=3064049#post3064049 You keep talking about socializing losses... how many total corporations are there in the U.S.? Of those, how many were bailed out? And of those, how many paid it all back with interest or are in the process of doing so? How many will not? How many millions of individual citizen deadbeats are there who lived beyond their means and are just walking walking away from their mortgages and other debts forever? Whose losses are really being socialized? You also ranted that "all the investment is going overseas." Why shouldn't it if conditions overseas are more favorable? Or aren't businesses in business to maximize profits?
========================== Good question.Captain Mainly because, banking,investing.... is not gambling Insane leverage/business is not banking, investing also. Ask BSC, Lehman or Citigroup............................................................ Great illustration of socialism / like a tumbleweed One black preacher was more blunt; Socialism is a doctrine of demons.