Quote:
Originally Posted by Asheth
Excellent point! That is true and in a true capitalist the rich get richer and the poor get poorer and dog eat dog! But lets say that when you started your job at the bottom or you job to make ends meet to get to where you are now. You benefited by those that are "More Fortunate" albeit maybe not with the best of benefits but still benefits nonetheless.
But America really isn't capitalist anymore its more of a blend of Socialism and Capitalism. If it was Capitalist then government bailout wouldn't be apart of our vocabulary. Ford, GM, and Chrysler would have been allowed to burn and been bought by the highest bidder. Notably Nissan would have bought controlling shares of Chrysler they tried to purchase a large chunk recently but it didn't happen.
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Well, let's not forget that Nissan had to be bought/bailed out by Renault many years ago! But yes, I agree, America isn't truly capitalist anymore, and it hasn't been for decades. For the record, I have no objection to the wealthy helping out the less fortunate via taxes. It's not like I'm against taxation or anything like that. What irks me (and has irked me long before Obama came onto the scene), is
progressive taxation, where the more you make, the greater percentage you pay. I would prefer a system where everyone pays a flat percentage of their income as income tax. So it doesn't matter if you make $10k per year or $500k, you're always going to pay the same percentage to income tax. The wealthy are still going to end up contributing more to the public treasury than lower income individuals, as n% of $500k is going to be a lot more than n% of $10k. Point being, one doesn't have to make the wealthy pay a higher percentage in order for the lower income folks to benefit from their wealth.