Tuesday, April 23, 2013

Who are the takers?

Some pro-capitalist apologists refer to the lowest-income 47% of Americans as the "takers," who enjoy government benefits at the expense of the high-earning one percent. But their claim is meaningless. The total amount paid out in 'welfare' (Temporary Assistance for Needy Families) is less than the investment income of just three men in a single year (Gates, Buffet and Ellison)

The monthly TANF income for a family of four is less than what the average member of the Forbes Top 20 made in one second at the office.

The 47% don't own stocks. They don't own anything. The so-called 'takers' have zero (0) wealth. The value of any assets owned by nearly half of the country is surpassed by their debt.

While corporations have doubled their profits and cut their taxes in half in ten years

The world's 200 richest individuals, ask each one his or her net worth, get the actual numbers from Forbes, and then add it all up, the total would be more than the total wealth of half the population of the world, .5 billion people .

Capitalism cannot be regulated. Wishing for the regulation of capitalism is wishing for the impossible. It is as if we wished the capitalists regulate themselves, since they own and control the legislators and the regulators. There is no chance at all that capitalism can be successfully reformed.
Capitalism is not benign and it cannot survive by remaining content; it must grow and grow more and more. It is like a tumor that keeps growing until it become malignant and cancerous.

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