Wednesday, February 19, 2020

We need to say 'no' to the dominance of money in politics, philanthropy, culture

We need to say 'no' to the dominance of money in politics, philanthropy, culture
The problem is not the money. It is capitalism itself. That rich people get more and better stuff is not the problem. It is who the money buys. Capitalism is and always has been about controlling labor, politics, style and customers. This is true of everyone who sits on a throne (including bishops). The Democratic brand is about building a better cage to get people to work. The Republican brand is about fouling the nest to force them to work. Socialism is about opening the cage and putting the capitalists. Bernie is not a socialist, he is a social democrat. So were Benedict, Pius and Leo. Not sure about Francis, who is a communist in his personal life, even though as a bishop he is released from his vow. That is why conservatives fear (and loath) Francis.

As luck would have it, there was a conference yesterday at the Tax Policy Center on the tax treatment of philanthropy since the passage of the Ryan-Brady tax bill. I passed on it, but my comment on theit Facebook page and Twitter feed was that they should look up how philanthropy worked before the income tax. I suggested (as MSW says) that they go to a Carnegie Public Library or CMU to see. Tax benefits are not needed for the wealthy to build monuments to themselves.

Tax reform is needed to increase the existing child tax credit to middle class levels (while raising the minimum wage so people don't live off the child credit). A subtraction value added tax on employers to channel tax benefits through pay or paid education is how to do charity and social justice.  It can also be used to fund retirement savings, shifting ownership from the rich to the workers. as well as a vehicle to shift stock ownership. A portion of shares can be pooled among such firms so that no one loses their retirements to bad management. That is what socialism looks like and neither Bernie nor Elizabeth are going there. Unions used to be the socialist vanguard, but they have been tamed into making the cage better.

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