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I’d rather pay half my income in tax to ensure everyone, including my family, the basic dignity and survival of food, housing, education and medical care.
The problem with capitalism is the high prices needed to pay for shareholder profits and executive bonuses. The key is to adopt some capitalistic programs but not so much that prices increase while quality of goods and services decrease in perpetuity.
Oh, and also end inherited wealth, because it’s antithetical to an egalitarian society.
No, competition prevents high prices. If a company increase prices to increase profits but a competitor doesn’t, it will result in a loss of business. Competition increases quality because a company selling poor quality products will lose business to one providing good quality.
What’s wrong with giving wealth to one’s children?
In competitive markets that’s how it worked. What we have now are mega corporations who build monopolies by buying out the competition or sending them broke by brute force. Then once the corporation has a stranglehold they are free to cheapen their products and services and/or jack up prices knowing they have no competition. That’s why formerly quality brands are constantly becoming poor quality trash.
Inherited wealth leads to spoiled, privileged idiots who have grown up thinking they earned their lives through talent and hard work, when in reality they’ve just been failing upwards while the family money and connections have been covering their asses.
In late stage capitalism, those idiots have amassed enough wealth and power to make them a genuine threat to all of us. If you can’t see that happening already then I have to assume you’re one of the many people who are just beyond help.
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Monopolies are not the result of laissez-faire
Monopolies are the natural product of capitalism with inadequate regulation. Laissez faire (hands off) is a lack of regulation.
If government does nothing to prevent a negative outcome that it has a duty to stop, it is complicit.
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So what makes that market free? Or is that just BS marketing?
High taxes are fine if it means that I don’t need a savings account to live. No need to save for retirement if my basic needs are met. Need being the operative word, it is important to still have the option at least until we can move to a post-scarcity gift economy, but I doubt we’d be ready for that in the next 250 years.
I got an idea, if we stop spending 1.1T per year on the military we can put most of that money towards America and your taxes don’t even need to change