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UPSG -> RE: Amerika: of the Rich, by the Rich, for the Rich (2/16/2009 9:12:51 PM)
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quote:
ORIGINAL: MrRodgers
Without re-quoting both Sanity and cory but with all due respect, what we see is actually how things operate.
Something bought (anything, real estate, art, co. stock etc. bonds, securities) at one price and I sell later either creates short term capital gains or loses. Here we assume gains for our debate. Any corporation, LLC, sole proprietorship Sub chapter (s) corp...any business can do this and it goes down on schedule C income or some appropriate tax form.
After only a year my profit or gains are for tax purposes...long term gains which is ridiculous. I owe taxes of 15% of the net which is my sale price minus my basis (basis is all purchase costs and capital improvement costs) If I work for a salary that goes on 1040 either from w-2 or 1099 and my chart can take me up to about 35% of my adjusted gross income. That is immoral prima facie.
On China, they are NOT communists except in name only so the party leaders control the military (may not last forever) and maintain the police state while Chinese peasants may buy shoes making a few $/hr many millions come from the countryside (their land being stolen and developed) to earn $3/DAY to make 20 pairs of $200 basketball shoes, blue jeans, computers etc.
The so-called communist party has created between 100 and 200 Chinese 'communist' Billionaires some of which party and lose millions in Vegas. They steal the profits from the labor of their peasants.
For many capitalists, China is the modern role model of mixing 1 billion peasants into an industrial economy as to essentially steal their labor just as was stolen from slave cotton-pickers back in the day.
Note: There are 70-80,000 yes, THOUSAND riots every year in China put down by the brutality of the police to maintain this fascist slavery.
The western capitalist is taking great advantage of this and Sam Walton made himself a multi-billionaire building a chain of stores fighting unions, paying Americans as little as possible while purchasing his toys and sundry from the fruits of this Chinese slave labor.
China, call them or their govt. what you want but it is the prototypical modern slave state and have formed the model of capitalist fascism but ONLY to the benifit of party leaders and their most trusted and necessary staff, police, law, admin. etc. and that pay drops real fast or otherwise how could they create all of those great Chinese billionaires and captains of industry. Under all of that is the fascist corruption of management actually making a practice of stealing from their employees and without penalty.
Not everyone in China lives in such extremes. Some of the greatest impoverishment exists in the rural areas of China. This is true of parts of rural Northeastern Brazil that are on par with the most impoverished section of Haiti. The United States still has rural poor in the backwoods part of the U.S. South that live in shacks off of dirt roads (littered with cotton), that are hoisted on stilts, no running water or electricity, outhouses, and the shacks look like they about to fall over. I've seen this (a community) with my own eyes driving through a section of Virginia. If you dropped out of the sky, but for the black skin, you would not be able to tell if that was the United States or Peru.
Rio de Janeiro, Shanghai, Chicago... all offer "first world" amenities and boast middle-class citizenry that live a world a part in lifestyle from those poor I just mentioned.
Consumerism is marching so fast ahead in China that they are marked in less than 10 short years to surpass both the United States and Japan as the number one consumer of luxury goods in the world. In fact the Chinese youth in the cities are probably worse than U.S. youth as spendaholic consumers. These are young people from 35 years of age downward who buy, buy, buy. Cell phones are in such demand in China that the Chinese market has something like 80 more different brands than the American market to choose from - something like that but don't quote me on the exact number.
Of course there are millions of people in Chinese cities (and not just rural areas) living in abject poverty and virtual wage slaves. But let us acknowledge China has a growing middle-class too and an ever growing consumer population.
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