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Capitalism vs Socialism November 12, 2010

Posted by Fritz in Yachts and other things that float.
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The recent draft recommendations released yesterday by Alan Simpson and Erskine Bolles on how to reduce the country’s budget deficit has lit up the political airwaves. The bi-partisan committee, appointed by Obama, has made some stunning proposals to address the financial fiasco our country is facing.

Both the Left and the Right are howling over much of what was proposed but for very different reasons. The Left sees it as a direct attack on sacrosanct entitlements and the Right feels it doesn’t begin to go far enough in tackling the problems. As a Conservative I am amazed to even see an attempt to address the Ponzi scheme that is Social Security. I am also tickled to death that the Administration is looking like it is about to capitulate on not letting the Bush tax cuts expire on January 1.

One of the reasons I think we have had so much difficulty with the latter is how the discussion has been allowed to be framed by the Left. Their perception that people of means can afford to pay more is wrong in so many ways. To begin with, the notion that just because you earn (key word) lots of money you should be taxed progressively is absurd. To think like that attacks Capitalism at its very foundation. Money is a reward. With very few exceptions if you make a lot of money you are either making someone else a lot of money or providing a good or service that others are willing to pay you handsomely for. In either situation your reward is lots of money.

To penalize anyone for their abilities defies logic and screams of unfairness in its most blatant form unless of course you’re agenda is to destroy Capitalism.

Before the arguments can be debated on the ‘fairness’ issue we have to set the ground rules for the entire debate. Of course, once that is done, the argument for progressive taxation crumples like an old suit. Capitalism is an economic system in which the means of production are privately owned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies.

A key sentence is: …are made by private actors in the market… The market sets the arena in which everything occurs. If a good or service is popular people pay for it and the producer is rewarded financially. If it is not, the producer is not rewarded. Smart people who invent things or develop better ways of doing them should and do become wealthy. They have earned a reward and it is theirs to do with as they see fit – period. The notion they must surrender a greater portion of their reward just because they have more to give is insane. I would argue that the richest man in the US (and world) derives the exact same benefits from his taxes as does the guy making minimum wage.

Every bureaucrat in Washington, every soldier serving this country, every government paid employee in whatever state you choose serves both of these men equally. They drive on the same roads, are served by the same postal service; the list goes on and on. So why should one pay more for the same services? To make one man pay more because he makes more is wrong. It attacks Capitalism and supports Socialism.

I had a conversation a few months back with a guy who told me with the utmost conviction that if we don’t force rich conservatives to give up their money they will never do it. I pointed out the fact that conservatives do in fact give more to charity than liberals by an overwhelming majority. He scoffed and said that couldn’t possibly be true. My conversation proved once again there is no way to argue with an idiot.

We need to paint this argument in the context of Capitalism vs Socialism. In that way we can begin defending the inevitable attack from the Left that “if we don’t take it from the rich, we will never get our fair share”. We will also call out all those libs who are really Socialists which is helpful since they just upped the bag limit on commies to two a day.





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