Originally Posted by DonDadda59
Let's continue the Bush tax cuts and let's give the big banks and lenders the green light to gamble us into a depression. That worked wonders for the country recently.
Again, this isn't a question of theory. We've seen the experiment play out in front of our eyes. It simply does not work. There's no way around it. The Republican fundamentals of economy were put to the test- we were supposed to see our economy boom due to the 'trickle down' of the rich getting richer and the financial sector being free to do as they please. Instead we got a recession that we only recently began to climb out of, that could've turned into a depression had someone like Mitt Romney been in power and allowed the financial and automobile sectors to go under as he wanted.
This is not a topic of debate. The Norquist plan is a complete and utter failure. The House Republicans need to cut ties with his failed philosophies and work with the President to undo the damage he caused and to start living in reality starting tomorrow morning
I am assuming by "Republican fundamentals of economy," you are referring to capitalism- even though the Republicans themselves don't actually understand capitalism either. But in any event, we have a central bank, we have a highly regulated economy, we have an income tax, we have an entitlement system, we have perpetual military action. All of these things are antithetical to capitalism.
If America is going to get past our struggles, everyone needs to start being honest with themselves. Left Right Libertarian Independent.. everyone needs to face facts, or else any solutions we come up with will be based on bad information. And it's just not factually correct to imply we've had free market capitalism over the last 10 years. I'm not even saying that because I support capitalism, which I do. But to say we've been operating under capitalism is like saying the sky is red and the grass is purple. It's just not correct, no matter if you support capitalism or not.
We have a mixed economy. There's a large element of capitalism, but don't get it twisted- major major elements of the economy are government controlled. And loads more are distorted by government policy, in my opinion negatively. I'm especially referring to the money, but the banking sector is not even recognizable from a free market standpoint, it's been so transformed by government intervention. We have regulation agencies for medicine, pills, the environment. Mostly everyone in the country is educated in government schools- not private schools. Anyone looking to start a business in almost any sector must deal with government licensing and regulation- why do you think businesses have compliance departments? Government hands out college loans and health insurance- both distorting the market and raising prices.
I think most anti-capitalism people look over these things, because they assume that without them... capitalism would perform even worse. So it's almost like they're doing capitalism a favor by not bringing them up. But pro-capitalism people have the exact opposite opinion- it's precisely these things that are causing the most harm to our economy.
If you want to argue that we still need less capitalism, or that our problems would be made worse by introducing more freedom into the economy.. fine. But when you imply "free market capitalism has been put to the test for the last 10 years," that is just wrong. And whoever told you that is either dishonest, or doesn't know what he's talking about.