interestingly, some of those corporate recipients did not actually want them, but were told in no uncertain terms they would accept them because of concerns that in certain regions the social fabric would fray. that is the essence of the superstructure.
Yes, small business owners tend to make a good living, thuse the "top 1/5", if the business goes out of business, the workers don't have jobs.
Most Of The $800 Billion In PPP Loans Did Not Go To Workers, New Study Finds
According to a new study, only about a third of the $800 billion in PPP loans went directly to workers who otherwise would have lost their jobs.www.cbsnews.com
But, according to a new study, only about a third of the $800 billion went directly to workers who otherwise would have lost their jobs.
A new National Bureau of Economic Research study found that 66% to 77% of the money from the program did not go to paychecks. Instead, most of money ended up in the hands of business owners and shareholders.
The study traced the money from the federal relief program even further and found 72% of the money flowed to the top-fifth of household incomes, meaning most of the money from PPP loans went to people making six-figures.
The study notes, prior to the pandemic, the US had no system in place to target the most needy Americans during emergencies. So instead, the US flooded the entire small business sector with money.
The report notes it may have been necessary, but only because the US was not prepared with better system in place for a more targeted relief program.
For every job saved by PPP loans, the study found it cost taxpayers between $170,000 and $257,000.
According to the study, 2 to 3 million jobs were saved by the relief program.
Yep, I definitely understand the cost.
I'm not arguing for or against any of these things (small business is the lifeblood of this country) but, back to the original mention of bailouts in this thread - bank bailouts, auto industry bailouts and COVID relief are not remotely comparable to the creation of social security, minimum wage or unemployment insurance IMO.
understood; but i do think they're comparable in the marxist superstructure sense.
Oh, for preserving capitalism, for sure. Any socialist reforms would fit in that category.
You’re trying to equate true capitalism - which certainly doesn’t exist in the US or any other ‘free’ nation, with crony capitalism, which is essentially a form of fascism.
True communism hasn't existed anywhere in any free nation either. Not even sure what you're trying to argue, you don't think the US is responsible for the deaths of millions?
I don't mind people pointing out that what we have isn't "true capitalism."
Alright, I disagree on several of these, and in an very unhortlike manner would attempt respectable debate.
I agree with you that it isn't always as straightforward as we might expect. I think capitalism does drive war, but I wouldn't necessarily attribute every war to capitalism just because profit was made. Capitalists will certainly try to profit on wars - because wars are good for that. But if a war wasn't fought to control trade, capture and exploit resources and so on, you might not call it a capitalist war. And even there there's room for debate.
How could it?
It’s pretty obvious you have never done anything with your life.
Why does this blatantly racist con-splaining always rear its head in these discussions?
He said the opposite, obviously war existed before capitalism but the profit motive constantly seeks exploitation of other nations for their resources, natural and people. Even more so when war itself is profitable. A communist would ask why workers in France are fighting workers in Germany in a war that has nothing to do with them, in fact Marx did exactly that.
Who controls the governments, in the USA for example? Certainly not the working class. Obviously it's the capitalist class. Why do you think we have two terrible options for president? For the illusion of choice. From an economics standpoint, they are the same choice. Both beholden to those with wealth and power.
You seem to want to tie politics to something man has done since the beginning of time.
Not at all. Take the 2 current headline wars: Ukraine and Gaza.
Central planning and authoritarianism is a common misconception, under pure communism, there is no government.
You know what's cool about watching YouTube videos on HROT?
Haha, why, because I try to be educated enough to have reasonable discourse across a variety of topics? Terrific logic.
[T]he Biden administration is considering a new $18 billion arms package for Israel that would include dozens of F-15 aircraft. This is in addition to the recent U.S. approval of 1,800 2,000-pound bombs and 500 500-pound bombs, as well as 25 F-35 fighter jets.
Agree 100% on our non-choices for POTUS but, again, you’re trying blame it all on a system which we don’t even have.
The problem is that true capitalism and communism don't exist except on paper. Invariably they fail because of greed. I agree with you but I guess I just don't see the point in discussing something that does not nor will not exist.Agree 100% on our non-choices for POTUS but, again, you’re trying blame it all on a system which we don’t even have.
Oligarchs or crony capitalists aren’t capitalists in the true sense of the word. They work in collusion with a central bank, the M.I.C., the media, etc.
The Founding Father of Crony Capitalism | Mises Institute
Hamiltonian mercantilism is essentially the economic and political system that Americans have lived under for several generations now.mises.org
If you want to say our system isn't really capitalism, fine. It's what passes for capitalism. It's what our political and corporate leaders call capitalism. It is strongly dominated by markets. Looks like a duck, and all that.
The only thing you’re educated is in government handouts. Only a jealous, bitter and horrible human being would try and defend Marxism like yourself.
This conversation is reminiscent of the old saying ‘The best slaves are the ones who think they’re free’. If you live under ANY statist rule you’re a slave - whether it be the communist Chinese or the capitalist Americans.
