Capitalism Is Awesome
- Thread starter What Would Jesus Do?
- Start date
Still the best 'ism' we've found so far to raise the most ships
While at the same time making sure a lot of people don't have ships.
And a lot of people don’t know what to do with the ship when they have been given one for free and have been given sailing instructions.
Plenty of people will never act in their own best interest even given every opportunity.
Attacking the system that works for the most people won’t change that.
Quit looking to others to fix your problems in your life and get to work. Nobody feels sorry for you.
More people need to look up to Jensen Huang than Bernie Sanders or Che Guevara.
Kameltoes can’t get one rural high-speed internet hookup with $4B+ but capitalism figured out how to give remote tribes in Africa access to broadband.
People who wear Che shirts need tased or punched…just an opinion, probably wrong.
hawkeyetraveler
HB Heisman
It is easy to shit on capitalism OP, until you study other economic systems and realize that capitalism is the best system we have. Sure there are have’s and have not’s. But that exists in communism, that exists in feudalism, that exists in socialism. At least in capitalism there is a far, far better chance than any other system that one’s wealth will be correlated to their work (trust fund babies aside!)
Show me a better system in history.
Show me a better system in history.
Yes... And ... the trust fund baby and passive income outcomes of capitalism are driving a bigger and bigger wedge between 'your work' and 'your wealth'
hawkeyetraveler
HB Heisman
I 100% agree with the trust fund baby point you make. Inheritance has nothing to do with the underlying principles of capitalism. If anything it is a hold over from feudalism.
If we truly believe that the best economic system is about hard work leading to good returns (which I do) then we should also contemplate limits on inheritance.
Personally I would tax any capital gain anyone makes when they dispose of gifts or inheritance. So if you inherit the family farm you get to run it and pay tax on any normal income. However, when you sell it, tax the proceeds at your actual cost basis (zero cost from inheritance plus whatever capital improvements you made) which is fair. It should not matter who your parents are, it should be about what you did to contribute.
It could only be a holdover of feudalism if the inheritance included some serfs required to work your land and not allowed to leave.
Inheritance is a consequence of property rights, which are the critical element of capitalism.
Don’t concern yourself with the worthless heir. If their mind is truly smaller than their fortune they will soon liberated of it by better minds.
hawkeyetraveler
HB Heisman
Our GOP candidate says otherwise. I am 100% in favor of property rights, just in combination with a capital gains tax based on the value when you dispose of property. Inheritance concentrates wealth in the hands of people who have done nothing to earn it. This is obvious and the wealth concentration is easily seen in our economic data. The more this happens the less people will believe in the American dream which is a core tenet of our system.
