Posted by: coastcontact | June 9, 2012

Capitalism is the Dominant force in the U.S.A.

Why Barack Obama Cannot Re-Make America

The American system of free enterprise is designed for people to make money.  Those that are smartest find every way to earn money, as long as it is legal, no matter who it hurts.

Bain Capital is an asset management and financial services company that provides venture money for new and struggling companies.  Like any privately held company it is in business to earn the highest possible return for its investors.  There are many other companies like Bain Capital.  The Blackstone Group and the Carlyle Group to name just another two.  Sam Zell, a wealthy real estate investor in Chicago, bought the Tribune Company without investing a single dime of his own money (thanks to some ingenious financing) but the company is now bankrupt (you thought he bought it to prop up that company?).

John_Hancock

John_Hancock

The system has always functioned that way.  The founding of the nation was all about free enterprise.  Those leaders in Philadelphia were mostly rich men who objected to taxation by the crown.  They invented the expression “taxation without representation” to rally the general public.  The best example is John Hancock.  Before the American Revolution, Hancock was one of the wealthiest men in the Thirteen Colonies, having inherited a profitable shipping business from his uncle.  John Adams was a well to do lawyer living in the Boston area.  Thomas Jefferson and George Washington were both wealthy land owners in Virginia.

If you do not agree with this form of economics you will have to live elsewhere.  You will not be successful in changing 200 plus years of a system that has built the wealthiest nation in the world.

Alternative countries that you ought to consider are Italy, France, Germany, Canada, UK, Australia, and New   Zealand.  You might notice that many of these countries are part of the British Commonwealth that Americans hated in 1776.  They do have capitalism but also make a greater effort at providing more social programs.

The choice is yours.  Just stop complaining about our system.  It is what it is!

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Responses

  1. I disagree with you. We can remake our country into what it used to be, if we all commit to the long haul. Just by reversing the tax policies and regulations to pre 1980 would make a huge difference. Once more use tax rates to encourage corps and companies to invest in their people and company, by giving tax breaks for not paying the top ceo more than 30% times the employees pay(used to be much closer than 30%) and by tax breaks for not outsourcing. It works. The rich used to pay their taxes with pride because they realized that their continued profit lay in having the best infrastructure and schools possible and to ensure that the workers are happy, well paid, healthy and educated, which in turn means better products and services. Just like before the great depression, the rich were allowed rampant trampling of the tax policies and regulations and thus created the largest transfer of wealth in only 30 years in history and we now are tied with yuganda with the highest wealth inequality in the world. Until the middle class is able to have money to spend, and the poor are given enough aid to ensure survival and wages are livable we can have no economy. The rich and corporations need to be removed from control of our government.


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