Corporate Capitalism Is Against the Greater Good

Everyone should know by now that Barack Obama is not a Socialist, not even close--c'mon look at the definition of the word.

Socialism: An "economic, social and political doctrine which expresses the struggle for the equal distribution of wealth by eliminating private property and the exploitative ruling class. In practice, such a distribution of wealth is achieved by social ownership of the means of production, exchange and diffusion." [Rius, Marx for Beginners (New York: Pantheon Books, 1976), 152.]

No matter what side of the political spectrum you are on, does this look like the country you live in? Does this even approximate the things that either Obama or the Democrats have legislated with or without bipartisanship? Not hardly.

Does it seem like the rich are being forced to sacrifice unfairly for for the collective good? Not according to uber-Capitalist Warren Buffett. Buffett told lawmakers that because of the cuts to the capital gains tax passed under former President George W. Bush, he pays taxes at a lower rate than some of his company’s employees and he doesn't think that is fair.

But let's say you think Warren Buffett, hallowed-be-thy-name, is on cuckoo pills. Just ask people earning $30,000 to $80,000 if they enjoy making tax payments; I doubt you would have a parade forming to beat the Buffett drum. Most of us see taxes as the cost of doing "business" for having the quality of life the average citizen of the US does.

If the Tea Party and other flat taxers want to get mad at anybody, why not get mad at corporate capitalists? The problem, as I see it, is it is citizens like you and I who pay most of the taxes and corporations who are supported by our welfare.

That's right, I'm saying that we the People are the "Nanny state" that is taking care of Exxon/Mobil and other firms who pay little if any US tax dollars. Corporations are the welfare "cheats" that we should be going after. The problem is that they lawyer up much more effectively than those among us who live in real poverty.

So while some folks bemoan welfare frauds and tax cheats and say "Not in My Backyard," it might pain them to know that they may be working for one. And, as much as some find it easy to blame the poor for being poor, how is it that we don't bemoan the fact that our tax dollars often go to encourage companies who don't pay their taxes to move into our neighborhoods?

In Iowa City, there are some who want those people who aren't carrying their weight to go back where they came from--well, isn't it time we say the same to those companies that aren't carrying their weight?

Corporations are like the "friends" that invite the group to have drinks with them and then walk the check. Corporate Capitalists hear us roar--No free drinks--tea or otherwise!

Thoughts From Sen. Joe Bolkcom

The following is from Senator Joe Bolkcom from his weekly Networker:

Angry Tea Party – What’s in that Tea?

Who isn’t mad as hell about how things are going in the America? We are in a deepening recession that has been caused by the irresponsible, greedy behavior of Wall Street and those in the so-called financial services industry that counted their paper profits as they turned their back on the ticking time bomb of the sub-prime housing market meltdown and years of a Republican philosophy of lassie fare capitalism that has allowed a no holds barred approach to executive compensation, unregulated lending schemes and virtual criminal activity in the management of our financial system.

Capitalism Gone Wild! Where were all the adults?

The house of cards has collapsed. And now all of us are being asked to pay; to bailout, to not allow the too big to fail. I never dreamed that I would be the part owner of the largest insurance company in the world! Mad? Count me in!

And all of this as the standard of living (income growth) for many Americans is slipping away as they work harder and harder to make ends meet. Trillions of dollars robbed out of our retirement accounts and home values. When is someone going to prison?

This frustration has welled up in anti-government Tea Party activism across the country. This week, three thousand people at the State Capitol, hundreds in Iowa City all mad at government and government spending. While I completely get the frustration and anger, I’m confused about the focus.

Cutting funding for our local schools, community colleges and public universities won’t do much to return value to the stock market or help our kids adjust to a changing world and economy. Laying off teachers actually will worsen the problem. Cutting health care spending will do the same. This is also the case for spending on public safety, prisons, courts, environmental programs and flood recovery efforts.

We actually need more, not less governmental regulation and oversight over the financial services industry.

I’m all for the activism. I just think it needs to consider far more carefully how we got here and recognize that NO ONE is very happy with all the not so optimal choices for driving this wreck out of the ditch. What's your analysis?

I'll get back to you Senator, you ask an important question which requires a thoughtful answer.