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Smart Capitalism - How Capitalism Should Work for All Americans
by Future Majority
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  • Sharon
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    Inefficient capitalism is the result of “supply side” a/k/a “trickle down” economics that the Republican party and the super rich have promoted for years despite the hard data that indicates it does not work as they claim - it does not distribute opportunity and wealth throughout the citizenry nor does it increase opportunity for the middle and lower socioeconomic strata due to reinvestment by the upper 10% in research and development or new businesses. It is a false statement just as the claim that the tax windfalls to corporate America from the 2018 tax cut for the rich package would lead corporations to give pay raises, bonuses, and to increase hiring. Instead, the money was used primarily to buy back stock. What bonuses were given were small and increases were negligible when they were given. Hiring did increase, but what kind of jobs were they? Temporary? With or without benefits? Part time? Contract? Low wage? Who knows? We’ve not been told that information. Inefficient capitalism has created a country where political power is, according to the data, vested almost entirely in the super-rich. We need to consider term limits across the board and government-fundedelections so politicians no longer have to chase campaign dollars or regard politics as a career guaranteed by voter apathy. We need to think about changing the system of taxation to close loopholes, to make it expensive and legally risky to hide money overseas, and to remove tax-avoiding strategies that encourage corporations to place offices overseas. All of this is only my opinion, of course, but it is founded in provable fact and hard data.

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