"If you laid all of the (PhD) economists end to end, to tell you which way to go, they would look like the spokes of a wheel."
I am not recommending government ownership 0f the means of production. But I am recommending more regulation and control over the means of production as well as the financial industry.
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The conservatives have done a better job of changing the wording of political ideas to help sell them. For example, they have been calling the Estate Tax a “DeathTax” to help convince people to not support it.
Progressives must wise-up and do the same.
The purpose of the estate tax is to reduce the economic problem of the rich growing richer and the poor poorer.
The more money one has, the easier it is to make more money. This process feeds on itself. If it continues for several generations what we end with is an hereditary nobility or aristocracy.
Therefore, progressives should call it what it is,
and start labeling the estate tax as the
The tax does not even begin until the amount of the inheritance is greater than $5,340,000. Then the percentage slowly increases up to a maximum of 40% for billionaires.
Conservatives are fighting to abolish the tax completely.
We fought the American revolution to get away from the British aristocracy.
Let us not create our own hereditary nobility right here in America.
As a former business man, I am extremely passionate about finding ways to improve our current economic state. Americans know that something is very wrong with the kind of capitalism we have been practicing. They know that the rich are getting richer and the poor, poorer at an astonishing rate. Socialism used to be a “dirty word” but now more and more, capitalism is being seen that way. People are beginning to wonder why we worship at the altar of capitalism to the point that we just accept recessions and depressions as though they are a necessary by-product of capitalism.
We simply can do better than the kind of capitalism we have been practicing, which enriches the few at the expense of the many; and that trend is getting worse. There is a general feeling that America needs systemic change in our politics, the economy, and our collective consciousness. We seem to have swerved from the better angels of our nature. We are moving contrary to the long arc of human history which is slowly bending towards empathetic equality. And as John F. Kennedy said “If a free society cannot help the many who are poor, it cannot save the few that are rich.”
We can unify capitalism with the right kind of socialism.
If we do not do that, we may be headed towards some kind of a revolution!
Please feel free to look around, leave any comments and check back again for more common sense political economics.