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 Everyone is getting wealthier under capitalism and here's why (5)

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socratic4(102) pic



Everyone is getting wealthier under capitalism and here's why

Businesses profit by selling products and there are two main factors that determine whether people will purchase a product, these factors are affordability (the cheaper your product is, the more people will buy it) and quality (the better your product is, the more people will buy it) now in order for your product to be marketable you need 1 or 2 of 2 things, it needs to be cheaper and/or better than what the competition is offering, else people will buy from the competition. Henceforth the market is in a constant competition of providing us with Exponentially cheaper and better products.
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1 point

Well, the US is considered a shining example of capitalism. Here is a look at wealth in the US...

http://www.businessinsider.com/heres-the-average-net-worth-of-americans-at-every-age-2017-6

Note, this is not a declaration of rampant poverty, it's a comparison of average worth at various age ranges.

My point in sharing this is yes there is wealth. And at the older ages the wealth is pretty good at least until they hit retirement and start to wear down what they accumulated. But, and this is a fair but, it is NOWHERE NEAR the individual wealth the infamous US juggernaut economy is claimed to generate. When most people middle aged are worth a total of about 35K, which the majority of them could not live on if they had to make it a year out of work, then you've got solid evidence the current socioeconomic formula is not doing a whole lot for the majority of people.

Amarel(2384) Clarified
1 point

you've got solid evidence the current socioeconomic formula is not doing a whole lot for the majority of people.

Maybe. But then I would like to see a comparison of these metrics over time. If most middle aged people are worth about 35K, it's easy to say that isn't so great unless they used to be worth less.

-1 points

Hello s:

Oh, but were it only true..

I'm a capitalist, but I can't afford a lobbyist and I don't know any congressmen.. So, I compete in the market place WITHOUT any help from my government...

Then we got the crony capitalists.. They CAN'T compete for a variety of reasons, but they HAVE lobbyists, and KNOW congressmen.. So, they whisper in their congressmans ear while holding a bunch of cash in their hand, and ask him to pass a law that will ALLOW him to make money EVEN if his product sucks..

If you measure the tax code in feet as it sits on the shelf, it's about 4' wide.. 2" are devoted to you and me.. 3' 10" is devoted to making it EASIER for corporations to make money..

excon

Amarel(2384) Disputed
3 points

Oh, but were it only true..

Excon, it is true. Your issue with tax favoritism and corporate welfare is valid, but government involvement in the market is not yet so extreme that free market mechanisms no longer work. Companies can circumvent market forces by A: receiving government funding (Corporate welfare), by B: having the government create barriers to entry (regulations, tariffs, monopolies, etc), or by C: Excessive Government contracts (Cronyism). Letting corporations keep more of the wealth they produce is not responsible for market in efficiency.

If you measure the tax code in feet

The fact that there are so many different kinds of companies and so few kinds of families explains the difference in the amount of paperwork dedicated to the different kinds of tax deductions available. You keep harping on it, but it's just bad rhetoric. As bad as our tax code is, it does not make the rich richer, though it can make the poor poorer. Increasing taxes on the rich can help make the rich poorer, but how does that actually help poor people? The war on poverty has. It helped the poor. We have wasted tons of money on programs that typically create perverse incentives and keep the poor where they are. Despite this massive decades long Government failure, we are still told that the solution is to give the government more money while making the rich a little poorer because at least then all the poor people can feel better about still being poor. We shouldn't demand more taxes on the rich, we should demand less taxes in general and a more efficient government budget.

We live in a country where, in absolute terms, the rich get richer and the poor get richer and they do this despite the government.

Kalamazoo(478) Disputed
2 points

You're clearly nothing more than a resentful fool who has either never been in business or, as is more likely, been a total business failure.

Your fictitious and repetitious claims about tax codes with it's 4.wide and 3'10'' is total nonsense straight out of the 'Communism Today' magazine.

All businesses must 'evolve' or die.

Manufacturers in particular must allocate a significant portion of their profits towards research and development in order to keep pace with, or, ideally one step ahead of the competition.

The relentless battle to keep overheads under control and to find ways to reduce the retail price of your product while not compromising quality are the departments in which a Company's best brains are employed.

The outstanding American industrialist Henry Ford was a master at this and the Germans domination of the top automobile marques is a classic example of how innovative capitalism totally eclipses the inertia of the outdated marketing and manufacturing techniques of socialist/communist nations.

A graphic illustration of how the capitalist system of a free/private economy market is vastly superior to your cockeyed ideas is in the old divided Germany where the thriving economy of Western Germany with, for instance it's Mercedes, B.M.W's, Audi's and Volkswagens outshone the backfiring smokey bangers of Eastern Germany.

outlaw60(8861) Clarified
2 points

SUPER STUPID you are aware your Progressive Party depends on Crony Capitalism ! Where did Obama get his wealth ? Come on DUMMY you got an answer !