Is Capitalism Working?
Updated: Jul 28
It appears to be working very well for the privileged few. For the other 99%, perhaps not so much. Relax, dear Newsletter readers! We’re not advocating a full embrace of socialism. Rather, we’d like to address this question . . . What can we do to fight back against the Republican Party’s “corruption of capitalism” to help make our economy work more equitably for everyone? (Spoiler alert: VOTE. FOR. DEMOCRATS.)
We’re all-too-familiar with the Republican playbook’s “greatest hits”: Tax cuts for corporations and the rich will pay for themselves. A rising tide lifts all boats. Deficits only matter when a Democrat is in the White House.
John Cassidy, in his article for The New Yorker, "Why Socialism Is Back", quotes Bernie Sanders: “(T)hree families control more wealth than the bottom half of our country.” What?!? Mr. Cassidy goes on to say:
“In retrospect, a key moment for the revival of American socialism was the Wall Street bailout of 2008 and 2009, when taxpayers were forced to rescue the very rogues who had helped bring about the financial crisis, even as many ordinary families were being evicted from their homes for failing to service their mortgages . . . There is a direct linkage from the Wall Street bailout to the Occupy Wall Street movement, the Sanders campaigns of 2016 and 2020, and to the Presidential campaign of Elizabeth Warren, who made her reputation as a vocal critic of rapacious and irresponsible financiers.”
Senator Warren goes on to offer an impassioned critique of big money in politics:
“Washington works great for the wealthy and the well-connected, but it isn’t working for anyone else. This is deliberate, and we need to call this what it is — corruption, plain and simple. Like Sanders, she identifies the feed-the-rich G.O.P. tax bill of 2017 as the latest example of how the elites work the system to their advantage.”
What do you think? Once you’re done screaming at your phone, we’d like to hear from you. Please send your comments to: email@example.com and we’ll read a few of them at our next Membership meeting. Thank you!