Forum Post: Greed is the Sugar in the Gas Tank of Capitalism.
Posted 13 years ago on Nov. 2, 2011, 9:24 p.m. EST by LetThemEatCake
(43)
from New York, NY
This content is user submitted and not an official statement
There's nothing wrong with being able to make a good living for yourself and family. Free enterprise brings new products and services that make everyone's lives better, and improves our world. What doesn't work is when a group of people decide that they are more important than everyone else and will do anything possible to take whatever they want. They form giant banks or companies and bribe politicians in order to own and control everything. I support capitalism and free enterprise, it works well everyday. But companies that ruin the lives of others, destroy our planet, urposely withhold disease cures to profit on treatments, bribe politics, and otherwise commit crimes against humanity and the planet, are what's wrong with this world.
Greed is the enemy, not free enterprise. The question everyone must ask themselves is, "How much must I own to be happy?".
Greed is not the enemy. Greed has a root cause. A system of perpetuated scarcity where greedy behavior is rewarded is the system we have. Capitalism unfortunately depends on a monetary system and will always eventually lead to monopolies and cartels. There is no such thing as a free enterprise. And beyond that, Capitalism creates the excessive waste that pollutes the planet, destroys foreign lands for resources which will not always be around, and it's also great at helping WARS continue. But greed has a root cause beyond a system of scarcity. It lies within the ego first. Which means the problem ultimately is a spiritual one.
"Greed is the sugar in the gas tank of capitalism." Thats a damn good analogy.
MIAMI (CBSMiami.com) – Florida is touting the new jobs it created Friday after a positive unemployment report. But based on numbers from all W-2’s filed in the country, the wages simply aren’t keeping up.
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans, saw their earnings fall by $4.5 billion collectively.
The sobering numbers were a far cry from what was going on for the richest one percent of Americans.
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion.
In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009.
Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.
Another word about the first Great Depression. It really was a perfect storm. Caused almost entirely by greed. First, there was unprecedented economic growth. There was a massive building spree. There was a growing sense of optimism and materialism. There was a growing obsession for celebrities. The American people became spoiled, foolish, naive, brainwashed, and love-sick. They were bombarded with ads for one product or service after another. Encouraged to spend all of their money as if it were going out of style. Obscene profits were hoarded at the top. All of this represented a MASSIVE transfer of wealth from poor to rich. Executives, entrepreneurs, developers, celebrities, and share holders. By 1929, America's wealthiest 1 percent had accumulated around 40% of all United States wealth. The upper class held around 30%. The middle and lower classes were left to share the rest. When the majority finally ran low on money to spend, profits declined and the stock market crashed. Of course, the rich threw a fit and started cutting jobs. They would stop at nothing to maintain their disgusting profit margins and ill-gotten obscene levels of wealth as long as possible. The small business owners did what they felt necessary to survive. They cut more jobs. The losses were felt primarily by the little guy. This created a domino effect. The middle class shrunk drastically and the lower class expanded. With less wealth in reserve and active circulation, banks failed by the hundreds. More jobs were cut. Unemployment reached 25% in 1933. The worst year of the Great Depression. Those who were employed had to settle for much lower wages. Millions went cold and hungry. The recovery involved a massive infusion of new currency, a World War, and higher taxes on the rich. With so many men in the service, so many women on the production line, and those higher taxes to help pay for it, the lions share of United States wealth was gradually transfered back to the middle class. This redistribution of wealth continued until the mid seventies. This was the recovery. A massive redistribution of wealth.
Then it began to concentrate all over again. Here we are 35 years later. The richest one percent now own well over 40 percent of all US wealth. The lower 90 percent own less than 10 percent of all US wealth. This is true even after taxes, welfare, financial aid, and charity. It is the underlying cause. No redistribution. No recovery.
The government won't step in and do what's necessary. Not this time. It's up to us. Support small business more and big business less. Support the little guy more and the big guy less. It's tricky but not impossible.
No redistribution. No recovery.
The government is owned by or are former employees of major companies. Not only are they not "stepping in", they are willingly causing the damage.
Damn right.