Just so you know, Clinton signed that into law and his treasury secretary was very supportive of it, and I think was very involved in the evolution of it. I could be wrong but I think it may have been fairly bi - partisan. Im sure more Republicans than Democrats voted for it, but I wouldnt be surpriised if atleast a slim majority of Democrats voted for it. Clinton rightly defends signing that bill. All it did was allow investment banks to have retail banking branches, and I beleive the ones that did that were the ones who survived the Autumn panic. What caused this crisis was the federal governemnt distorting risk in the mortgage market.
Why are Americans so afraid of Socialism?
- Thread starter lurkingdirk
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Just so you know, Clinton signed that into law and his treasury secretary was very supportive of it, and I think was very involved in the evolution of it. I could be wrong but I think it may have been fairly bi - partisan. Im sure more Republicans than Democrats voted for it, but I wouldnt be surpriised if atleast a slim majority of Democrats voted for it. Clinton rightly defends signing that bill. All it did was allow investment banks to have retail banking branches, and I beleive the ones that did that were the ones who survived the Autumn panic. What caused this crisis was the federal governemnt distorting risk in the mortgage market.
Socialism doesn't work as a method of getting the goods , this is done much better by free enterprise and capitalism.The problem though with capitalism is that it has no room for the human dimension-posters have been complaining about outsourcing jobs to China for example.The market supports outsourcing-don't the customers want a range of goods they can afford? Cheap clothing , electronic and electrical goods?So send the work to China where wages are much lower.
The job of socialism is to put a human face on the economy.Those who believe that it removes independence and freedom need to realist that these have more than one manifestation.I for example live in a Welfare State , we pay higher taxes (but mustn't forget that much of these come back to us in benefits) and enjoy the freedoms it gives me.Like not having to worry about medical costs or being out of work.I don't become ill or become unemployed on purpose , neither do other people.These things often come from nowhere, but the worry doesn't sit on my shoulders.I am a freer person as a consequence.
If Chineese wages are much lower then it means that the price of the product that you buy from them will be lower. Which means you now have more disposable income to buy other things from companies who employ Americans, which will create more jobs. That is because you now have a more efficient allocation of resources. No country has an unlimited amount of resources or labor to be able to make EVERYTHING by themselves. It is the same basic reason why an engineer is better off buying from a grocery store rather than trying to grow his own food. The only difference is that in the case of outsourcing, that grocery store exists in another country.
I would wonder how you can put a human face on the economy with faceless beaurocrats who dont even know you, who can take your money by threatening to put you in jail.
The problem is that the higher taxes come from you and corporations that could otherwise be used to make jobs and grow income. You say it comes back to you in benefits, but because you arent paying directly for those benefits, you have no incentive to weigh the benefits and the cost, because there is no cost to you except what the government refuses to give you. What you demand depends entirely on what is supplied at what price. You are cenrtainly going to demand a lot more for an item that is free. Therefore someone is going to get screwed because of a non efficient allocation of resources, because there is going to be a shortage for some people.
Well, sure, but someone has to pay the people who provide medical services so that they themselves can earn a living. My medical costs are relatively low and I have the peaceful knowledge of knowing that I have a very high chance of beating cancer if I ever get it.
You seem to offer all the theoretical objections to what happens over here but nevertheless we do enjoy a comparable per capita income without the worries of a laissez-faire society.Some of the socialist countries actually offer a much higher standard of living than the US so the idea that taxation is a poor use of resources doesn't pan out in the real world.
If you are relatively young and fit then insurance bases medical provision will be relatively cheap.Like an umbrella when it isn't raining.It isn't denied though that Americans pay much more than Europeans for any comparable quality of service ; we have a health service which exists for the patients and not to provide dividends for shareholders-we cut out a whole layer of costs.
You can't drive an F150 Diesel with a gun rack and antlers mounted on the hood or shop at Wal*Mart in a socialist country. That's the level of understanding necessary for Joe Six Pack 'Murican.
However, you get a much higher quality of life, better healthcare, better food, shorter work week, yearly vacations, etc.
In America's form of Republican Capitalism, you basically have the incentive to harm and lie to your fellow consumer, in order to make yourself as wealthy as possible at his expense. Then, when you get rich enough and successful enough, you can form a monopoly and ensure your neverending and uninterrupted legacy. Hmm. That doesn't sound so good.
The other thing is that Americans seem to enjoy spending tax dollars on warfare (the whole Military/Industrial Complex thing) and are *happy* to shower conquered countries with lots and lots of tax money. If we bomb it, we'll *fix* it. Maybe? The Socialist Europe Model had their warfare problem but...hmmm...they don't seem interested in warmongering anymore? Why should they when we can handle that job for you and on our own dime?
The total cost of money spent on the Iraq Boondoggle could've put a new American Healthcare System at the top of the World...by now.
However, you get a much higher quality of life, better healthcare, better food, shorter work week, yearly vacations, etc.
In America's form of Republican Capitalism, you basically have the incentive to harm and lie to your fellow consumer, in order to make yourself as wealthy as possible at his expense. Then, when you get rich enough and successful enough, you can form a monopoly and ensure your neverending and uninterrupted legacy. Hmm. That doesn't sound so good.
The other thing is that Americans seem to enjoy spending tax dollars on warfare (the whole Military/Industrial Complex thing) and are *happy* to shower conquered countries with lots and lots of tax money. If we bomb it, we'll *fix* it. Maybe? The Socialist Europe Model had their warfare problem but...hmmm...they don't seem interested in warmongering anymore? Why should they when we can handle that job for you and on our own dime?
The total cost of money spent on the Iraq Boondoggle could've put a new American Healthcare System at the top of the World...by now.
