MrRodgers -> RE: repenting of our ways (4/11/2016 5:21:52 PM)
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ORIGINAL: thompsonx ORIGINAL: MrRodgers Well Buckley lost me when he became a corporatist. While professing the dogma that the power to tax is the power to destroy, that to tax at all is axiomatically an economic disincentive, he favored the complete elimination of all federal and state corporate and capital gains tax which then places the almost the entire burden of tax revenue collection...on labor. This not only then places the largest disincentive on labor but completely the reverse of our founders who believed similarly to Hamilton, that the country and the treasury could do just fine with a small tax on business and no tax on labor which Lincoln later very accurately described as the world's real wealth. "Without labor, you have no capital." So did marx. What, Marx became a corporatist ? Hardly. Mid and late 19th century, for Marx, the industrial corp. produced a 'surplus' of capital (price minus labor, tools and material) called profits, the owners of which (Bd. of Dir.) would distribute to themselves and investors. This resulted in the concentration of wealth and a tendency toward monopolization. Lenin came along and noticed, that had happened and was a verification of Marxist theories. He saw the tendency toward monopoly had developed to the point of imperialist, or international capital domination, with finance capital playing the primary role of centralizer. Or, are you saying that Marx agreed with Lincoln and also believed and correctly so, that the only real wealth...was labor ? Thus without labor...you have no capital. The ensuing creation of currency (monetary system) as a means of that exchange in wealth, has come to dominate economics and policy and whose underlying value of which is now both labor and the supply of the capital, now subject to the whims of central bankers.
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