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Income Inequality: Capitalism and Democracy; another reason to vote third party
Capitalism and democracy do not mix. That we have both in America is a paradox.
Unless modified by law, capitalism is a free market competitive process resulting in winners and losers. By its nature it favors capital over labor and promotes economic inequality with no consideration of the environment or community. It's guru, Dr. Milton Friedman states, "The businessmen believe that they are defending free enterprise when they declaim that business is not concerned "merely" with profit but also with promoting desirable "social" ends; that business has a "social conscience" and takes seriously its responsibilities for providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers. In fact they are–or would be if they or anyone else took them seriously–preaching pure and unadulterated socialism." While good at creating wealth, its ability to distribute wealth is appalling.All of the income growth from 2001 through 2005 accrued to the wealthiest 5% in America. That income growth was matched by an equivalent decline for 90% of Americans. Our form of capitalism has been called "Socialism for the Rich" by Michael Leon Guerrero.
This form of fiscal flatulence is a direct result of economic policy, driven by corporate deregulation, of the last five administrations, three Republican and two Democrat; Carter, Reagan, Bush, Clinton and Bush aided of course by their legislative henchmen-women.
Unless modified by law, democracy is egalitarian; one person-one vote. Democracy attaches rights to people while capitalism tends to attach rights to property. All social progress accrues from democracy; none from capitalism.
The social progress attained under the Democratic administrations of Presidents Roosevelt, Truman, Kennedy and Johnson were materially weakened by deregulating corporate capitalism by Presidents Carter and Clinton, not to mention again the above three Republican administrations. Since Nixon, the Democratic Party has elected to pay for its continued relevance with corporate money. The Wall Street Journal indicated the seven major industries that have been the most reliable Republican resources gave almost four times as much to Clinton and Obama when they were both in the race than to McCain.
Now ask yourself, if the Democrats were the party of the people, if they were truly going to make the corporations serve the American people, would the corporate executives be dumping millions into their campaigns? The answer is of course, hell no!
I say "a pox on both their houses, on both political parties". My guess is the only way to clearly express your concern with both parties is to vote for a third
