Democracy and Capitalism are the same thing. Consumer of goods or government have a vote.  End of story.

I keep hearing arguments about the “greed” of the wealthy, the greed of banks, etc. Here’s a quote I liked a lot from Thomas Sowell writing about democracy:

Among the favorite sloppy words used by the shrill mobs in the streets is “Wall Street greed.” But even if you think people in Wall Street, or anywhere else, are making more money than they deserve, “greed” is no explanation whatever.

“Greed” says how much you want. But you can become the greediest person on earth and that will not increase your pay in the slightest. It is what other people pay you that increases your income.

The number of people earning over a million dollars per year paying no taxes is something like .9% of the people earning over $1 million per year. The top 1% of the income earners in this country pay 40% of the income taxes. The wealthy DO pay their fair share. This argument gets so old. Looks at the IRS data on income taxes, which account for half of the governments revenue.

If we have no right to take the wealth from other countries, why do we have the right to take wealth from citizens of this country? Are foreign countries not also members of governing bodies? We have NATO, the EU, the UN. We all have several common governments, why can’t we take each others’ wealth?

“The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism – ownership of government by an individual, by a group.” ~Franklin D. Roosevelt

That FDR quote is brilliant. If we had 0 taxes on business what incentive would they have to change tax law so that they wouldn’t pay taxes? Or if we had less regulatory code they wouldn’t have any incentive to lobby and buy politicians to help their bottom line. Big businesses and small businesses could compete on the same playing field.  I think people are quick to forget that we have a court system in which parties can seek compensation for damages done to them by private and public institutions. Small business can’t afford big lawyers and lobbyists to go to Washington year round year after year. Not to mention most people can’t grasp the idea that business don’t pay taxes. Where do they get the money with which they pay those taxes? They’re writing the tax check with the money they collect from you and I.

The idea of capitalism is based in the idea of voluntary exchange. What part of voluntary exchange do you disagree with? We don’t have capitalism in the U.S., not when the government intervenes in the economy and picks economic winners and losers. Is that right? Or fair? For the government to decide who succeeds and who fails? Explain to me how a private power becomes so powerful that it cannot be destroyed by the democratic method of capitalism? If we don’t like the idea of high interest on our credit cards, pay the bill on time. Or don’t use one. Humanity was just fine for thousands of years without consumption borrowing. Collective private decisions have far more power than you’d like to give them credit. If we didn’t like the idea of people making money we wouldn’t give it to them. Big government equalizers like yourself, Lenin, Chavez, Otto von Bismark, Hitler, Mao, have been trying to level the playing field for hundreds of years. Why do all of these countries have some of the lowest median income in the world? Their income disparity is low, so I suppose you might think that is good.

Do you realize that 80% of the world lives on less than $10 per day? If we had a world government, almost everyone in the U.S. would be in the top 1%. Why don’t we have a 1 world government, send 15% of everyone’s paychecks all over the world and poverty will end over night!!! Brilliant!!!