How accurate is this? Helpful answers only please.?

Question

Capitalism is on a bell curve. Capitalism will never thrive under high income equality. Capitalism will never thrive in a society overly concerned with the environment. Capitalism will never thrive if people stop their natural want for more of something or a bigger and better version of something.

The less we reign in capitalism, the more this country will develop, and the better it eventually will be for everyone... For example, tax the rich less and they will be motivated to earn more, and this smaller tax on their increased income will eventually result in a larger sum of collected tax money than if you taxed them more but on an income that they would have less incentive to increase.

Note that my statements are not contradictory. Growing capitalism will create growing ineqaulity, but those at the bottom will still see a change for the better over what they previously had... Although they will be even further from the top as a whole.

How accurate? Honest answers.

Please explain your answers because I am making a sincere effort to not bicker and learn. Thanks.

So the further question is... As long as the entire world is materialistic... If we "slow" capitalism (higher taxes) to "save" some humanity, won't we fall behind other countries and, in the end, do ourselves in?

Answer 1

These ideas are an extreme right-wing view of how society works. The premise of the Bell Curve comes from a book by Charles Murray, a neo-fascist 'think tanker' of the 1990's. Basically he says because rich people, who are rightly focused only on making money, are smart enough to be rich and stay rich they should be rewarded.
Whereas poor people, who are poor only because they are too dumb to be anything else, deserve to stay poor so that the rich, clever people can get richer. Even though these poor people don't deserve to be any better off there is a trickle down effect from all the clever rich people getting richer that benefits the poor. And this is the way Capitalism makes everything better for everyone!

Personally, I think these idea are a load of old rubbish and indescribably arrogant, self-serving and obscene. This was a popular belief in the Reagan/Thatcher regimes. It totally ignores the social context of human existence and makes money the only consideration and the only reward for doing anything!

It is a soulless and insane premise which I personally find extremely offensive and will not subscribe to in anyway, at anytime.

Answer 2

The US economy, and all advanced economies, are controlled capitalist economies, somewhere between full state planning and unbridled free dealing. So the first sentence is correct. But if the rest of the question is meant to imply that no regulation or no taxes are better for everyone, then it is not accurate.

Weak regulation in the late 19th and early 20th centuries produced several depressions where the economy shrank and most people suffered. On the other hand, government action permitting unions eventually produced enough wealth in the working class to turn it into a consumer class, greatly benefiting business by creating more customers. As far as the last paragraph, known as "a rising tide floats all boats"---well, it hasn't worked in the last 7 years--by all measures, the very rich have got very much richer, but the lowest quintile is not wealthier, even though people are working much longer.

Any good economics resource will provide dozens of more examples of the failures of unbridled capitalism or total state planning.

Answer 3

The rich are not motivated to earn more by lower taxes. That's absurd! The rich are concerned at all times with maintaining their income and expanding the wealth they already hold. Capitalism does not foster inequality per se, it favors industrious laborers to work. If there were no rich, there would be no industry and no jobs. The Communist Ideal is a great foundation for a peaceful nation but it wears against the common human nature to be better than the guy beside you. Political solutions to the problems of society will never make the population as a whole happy or satisfied and will never bring about a harmonious state where all can live in happiness. Pipe dreams, Nonsense. Eradicate hate among different people first. That will never occur.

Answer 4

That is called trickle down economic theory and the republicans swear by it. I really don't think that it is working out they way they promise. Consider this.....before Reagan, a man could earn a decent living and support his fanily working one job. They might not get rich but he could provide for them anyway. Once Reaganomics took hold, it began to be necessary for both parents to work in order to support a family.

If the current trend continues and wages and benefits continue to drop as we lose good paying jobs and gain low paying jobs in their place, eventually, working class americans will be back to where they were during the depression.....they will need to have large families so that the children can work and help support the family as a whole. The rich on the other hand are spreading their domination throughout the globe using trickledown economics propaganda

If you want to know how it ends just grab a few friends a play monopoly....that's a good game for understanding capitalism at work. I think it's about time to start this game over.

Answer 5

I agree with most of the statements.
I disagree that being overly concerned with the environment will stifle capitalism.
If special interest exemptions are eliminated, then even with stricter environmental rules, everyone will still be on a level playing field.
As far as taxing the rich somewhat less, it may well be an incentive for the rich not only to earn more, but also to expand their enterprises which will inevitable lead to more employment and, hence, even more tax revenue.
America is a shining example of the success of a free enterprise system - despite the "monkey wrench in the gears" effect of government intervention and wealth redistribution.

Answer 6

well capitalism is system that has no meaning but satisfies, all as its the biggest hypocrisy of modern culture and times but that's how it is as the social fabric of our world can never get rid of ignorance so as long as ignorance persists with the combined force of the bourgeoisie having their ways capitalism will end when judgment day is upon us or climate change and resource depletion catastrophes really occur on a level as its being thought as.

We have growing economies of china and India and it is so obvious the growth in those nations is widening the rich poor gap ever then before but there is a paradox as china was a communist country it ran on that system though people desired change and leading that change is not political and social freedom its economic meaning they wanted to get rich well today those that made it are getting richer then ever and the rest are facing worser conditions.

India is about similar to china where the people have voted for communist and socialist parties well in a majorities but yet the desire for money and the tainted lies that capitalism offers as it today comes almost exclusively with the illusion of democracy another hypocrisy makes its position unchallengeable almost

Answer 7

this sounds like the theory of reaganomics,
let the wealthy have free reign at getting wealthier
and eventualy some of their fortune will trickle down to the little peaple!

as for the tax situation warren buffet one of the countries top billionaires who has a gathering of followers meet in my state every year says that "it is amazing that my secretary pays more in income taxes each year than i do!!!

something is wrong with this, the already wealthy ones find loopholes and tax shelters to pay lower taxes!!!

cause they can afford to pay for tax accountants and tax lawyers who get them the best tax breaks they can get, wich helps them get even wealthier in the long run!!!

and it was the lower wage earners that helped win the cold war, disabled peaple were thrown off disability only to have to struggle and appeal the decisions by social security, and lots of other programs suffered from lack of funds because there wasnt any money trickeling down, it was all going to our pentagon to outspend the ussr on defense weapons!!!

free reign to the weathy or reagonomics will cause even more poverty and in turn more crime and prisons and a bigger gap between the privelidged and the underpriveledged, more crime, drug use, lower moral, and just `deeper disrespect all over again!!!

Answer 8

Are you talking about trickle down economics, where the rich make a bunch by importing products made with low cost labor in another country and everybody here works in the service economy for a little amount that trickles thru.