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Are We Heading Towards Totalitarian Capitalism?

“There are no constraints left to halt America’s slide into a totalitarian capitalism. Electoral politics are a sham.”

Full Article: http://www.commondreams.org/view/2010/03/08-2

I started my day by reading that sentence from a great article sent to me by a very smart woman who will remain anonymous. Do you know what makes America great?

Differences of opinion?

Big Cars and SUV’s?

50 different restaurants to choose from?

Huge shopping malls where we can buy anything we want?

Wal-Mart and Target competing for the lowest prices on everything?

NO! The thing that makes America great is FREEDOM!

You and I are FREE to choose any path we want and the only thing holding us back is our own fear. If this wasn’t the truth, then we would never have the apparently common rags to riches stories that fill our media and entertainment world here in this country. NO WHERE ELSE do people have that type of opportunity. And, it’s because of capitalism…. well that’s just one man’s opinion, but follow my thinking… The problem is when we associate two words together like “totalitarian and capitalism” we automatically make BOTH bad words! And, capitalism alone is not bad at all!

Let’s take a blue collar worker who earns an average wage of $30,000 and pays 15% in taxes each year. That would give him or her $26,000 a year or $2,200 a month in personal income. If he or she is married then you have over $50,000 in annual income. Because of capitalism they can now easily afford a big screen TV ($500), two new cars ($800), and complete insurance ($500) all for less than one of the couple’s monthly income! Without capitalism, there would be no healthcare. You would have to pay the doctor cash or credit for whatever he charges. Then again, without capitalism there would be no medical advancements because why would there need to be? Without capitalism, there would be no cars… at least none that are mass produced. Then guess what? They would cost more than just a fraction of an average workers monthly salary!

Later in the article was this quote:

“We are going to be poorer… Health care is going to eat up more and more of our income. We are going to have less and less for other things.  If we see the end of this country it will come from the right and our failure to provide people with the basic necessities of life,” says David Cay Johnston. The brainwashing continues! Totalitarian Capitalism is not an option. The reason is that capitalism is marked by competition and lower prices, where in Totalitarian control, there wouldn’t be any competition. In other words, Totalitarian Capitalism is akin to Socialism. And, if we transform into that type of economy, the wealth will leave this country faster than it did New Jersey!

The simple question is of morality comes from, should you be expected to care for your neighbors bills or should they be required to support themselves? Life – Liberty – Pursuit of Happiness! That’s all we’re afforded and until about 50 years ago, there was no healthcare industry to help us and even for that average blue collar worker, the cost of healthcare is VERY VERY INEXPENSIVE. Plus, until the bankruptcy laws were “reformed” (there’s that word again) those people who had to run up medical bills could easily file bankruptcy and get back into shape and have a life again without worrying about that burden. But that’s not the point.

The reality in America is this; the top 10% of wage earners (those making over $113,018) pay over 71% of the entire tax burden in this country.  Is that fair?

http://www.ntu.org/tax-basics/who-pays-income-taxes.html

Is it fair for those that go out and make things better for the rest of us are forced to carry over 2/3rds of the burden? They are the ones paying for your kids to go to school. They are the ones paying for the wars. They are the ones that own companies that mass produce the products you and I use every day for lower and lower prices.

Capitalisms goal is always toward lower prices – ALWAYS!

Of course, there is truth in this article. We do have a government that has been bought by corporations as evidence from the money spent on lobbying last year alone.

http://www.opensecrets.org/lobby/

But guess what? They didn’t have to take that money! If our “leaders” said no or were themselves already wealthy (like the leaders of the old school) then it wouldn’t be long before the lobbyists left Washington. Because in a capitalistic society businesses only do things that make business sense and if the government turned their back then all that money would be wasted.

Near the end of the article is the following:

“But we are not slaves. We have a choice. We can refuse to be either a victim or an executioner. We have the moral capacity to say no, to refuse to cooperate.” This is exactly the truth in our FREE SOCIETY. You don’t have to do anything or buy anything if you don’t want to. Of course, our leaders should be the first to exercise this right and stop taking money from lobbyists, special interests, unions, etc…

That’s it, I’m Done!

About the Author

Since 2001, I have worked with business men and women around the world providing coaching, information, and strategic advice that has produced a compounded rate of return close to 40% annually for their capital. Using that experience, I’ve written the first step by step guide book every published on how to find and buy the right stocks. Plus, each week investors can find new ideas, strategies, and reports on my website – www.jonathanpoland.com.