Saturday, January 31, 2009
Capitalism to Socialism? Really?
Recently this week, it was reported that the executive bonuses for US corporations exceeded 18 billion dollars in 2008. The premise of the American bonus system, as known by the people the U.S. Middle class, is that upon one's hiring bonuses are subject to change, and issued to employees contingent on the financial success of the company; a principle of capitalism that helps destroy mediocrity.
However, in the last year, banks failed, corporations tumbled, and what was thought to be timeless names, vanished in part due to the greed of the ones who ran them. CEOs were hired and fired, without repercussions, leaving in their path a destroyed corporation reeling for survival, i.e. Home Depot. On their departures, CEOs walk off, after crashing their companies into the ground, with a hefty compensation package. Why? Capitalism rewards success, not failure. Firing middle class business (wo)men would not yield such rewards. So why is the CEO the exception?
The firms that requested, urged, stated that the financial health of the nation was in peril if they were not bailed out, walked away with 18+ billion dollars in tax payer money. It was told to me the other day, its a dog eat dog world. That would be a fair statement, if the losing dog ever had a fighting chance. As a tax paying nation, we were/are being white collared robbed under the mask of a bailout. Unfortunately, for President Obama, he is being blamed for supporting the First Round Bailout. However, was it not former President George W. Bush and his adminstration that was supposed to oversee the 2008 bailouts? Yes, and under his watch, the oversight had more holes that needed plugging than the popular whore around the corner. Many are turning around and blaming Obama for turning the nation towards socialism. This is where we, as a nation, need to take a history lesson.
Socialism is an economic theory whereby state/collective ownership administers the means of production and distribution of goods. Its society is characterized by equal opportunities for all individuals with an egalitarian method of compensation. Basically, if an individual decides to be a doctor or a first year engineer, they will more likely than not be paid the same. Socialism lacks a reward structures which is the motivation that human beings seek for their actions.
Under the McCain/Palin campaign, the world was introduced to the real Republican Party, one which mongers hate and fear. One which led people to falsely believe Obama was a terrorist, marxist, and hell bent on destroying the lives of the American People. Stupidity coupled with under education was touted as the saviour to the world, while intelligence and careful planning was torched as they enemy;similar to historical book burning. Regardless, Keep in mind that McCain was a supporter of the Bank Bailout (and industry bailouts). However, bailing out the corporations so that millions of Americans can keep their jobs, homes, and families is not Socialism. It is very much still capitalism. They will continue to receive their wages, not set by egalitarian bounds. From what is understood, government intervention is minimal for those that have taken bailout funds. However, when executives act recklessly and without shame by lining their pockets as their companies and its members suffer, a line must be drawn. Many did not imagine that the aforementioned executives would be so audacious to falsely reward themselves as they plummeted their companies to the ground, yet it happened. Putting a cap on executive pay is not socialism; controlling their reckless behavior is not socialism; stopping white collar robbery is not socialism. Its Capitalism at its finest.
Yesterday, former NY mayor Rudy Giullani stated that these Executives' bonuses help keep the economy alive as they are able to spend money at restaurants, bars, clubs, exquisite stores, for fashion, cars, jewelry, etc. The logic is incomprehensible...How does a very few select group spending money stimulate an economy over curbing job losses? If ten more people retained their jobs, in lieu of overzealous compensation, banks would continue to take in mortgage payments, utilities would get payments on their bills, and modest stores would see continuing customers. The logic of Rudy the Repube defeats me.
Party affiliation is, again, not at the helm of the discussion; however much it may play into the view points. Democrats are as much to blame along with their republican counterparts for the happenings of this nation. Nevertheless, President Obama is fighting both parties for the em betterment of this nation, for it to move ahead, and back into its proper spot at the top. As children, we were taught to lead by example...this should apply to adults and the global nations as well.
"My president is black, in fact he's half white, so even in a racist mind, he's half right." - Jay-Z
However, in the last year, banks failed, corporations tumbled, and what was thought to be timeless names, vanished in part due to the greed of the ones who ran them. CEOs were hired and fired, without repercussions, leaving in their path a destroyed corporation reeling for survival, i.e. Home Depot. On their departures, CEOs walk off, after crashing their companies into the ground, with a hefty compensation package. Why? Capitalism rewards success, not failure. Firing middle class business (wo)men would not yield such rewards. So why is the CEO the exception?
The firms that requested, urged, stated that the financial health of the nation was in peril if they were not bailed out, walked away with 18+ billion dollars in tax payer money. It was told to me the other day, its a dog eat dog world. That would be a fair statement, if the losing dog ever had a fighting chance. As a tax paying nation, we were/are being white collared robbed under the mask of a bailout. Unfortunately, for President Obama, he is being blamed for supporting the First Round Bailout. However, was it not former President George W. Bush and his adminstration that was supposed to oversee the 2008 bailouts? Yes, and under his watch, the oversight had more holes that needed plugging than the popular whore around the corner. Many are turning around and blaming Obama for turning the nation towards socialism. This is where we, as a nation, need to take a history lesson.
Socialism is an economic theory whereby state/collective ownership administers the means of production and distribution of goods. Its society is characterized by equal opportunities for all individuals with an egalitarian method of compensation. Basically, if an individual decides to be a doctor or a first year engineer, they will more likely than not be paid the same. Socialism lacks a reward structures which is the motivation that human beings seek for their actions.
Under the McCain/Palin campaign, the world was introduced to the real Republican Party, one which mongers hate and fear. One which led people to falsely believe Obama was a terrorist, marxist, and hell bent on destroying the lives of the American People. Stupidity coupled with under education was touted as the saviour to the world, while intelligence and careful planning was torched as they enemy;similar to historical book burning. Regardless, Keep in mind that McCain was a supporter of the Bank Bailout (and industry bailouts). However, bailing out the corporations so that millions of Americans can keep their jobs, homes, and families is not Socialism. It is very much still capitalism. They will continue to receive their wages, not set by egalitarian bounds. From what is understood, government intervention is minimal for those that have taken bailout funds. However, when executives act recklessly and without shame by lining their pockets as their companies and its members suffer, a line must be drawn. Many did not imagine that the aforementioned executives would be so audacious to falsely reward themselves as they plummeted their companies to the ground, yet it happened. Putting a cap on executive pay is not socialism; controlling their reckless behavior is not socialism; stopping white collar robbery is not socialism. Its Capitalism at its finest.
Yesterday, former NY mayor Rudy Giullani stated that these Executives' bonuses help keep the economy alive as they are able to spend money at restaurants, bars, clubs, exquisite stores, for fashion, cars, jewelry, etc. The logic is incomprehensible...How does a very few select group spending money stimulate an economy over curbing job losses? If ten more people retained their jobs, in lieu of overzealous compensation, banks would continue to take in mortgage payments, utilities would get payments on their bills, and modest stores would see continuing customers. The logic of Rudy the Repube defeats me.
Party affiliation is, again, not at the helm of the discussion; however much it may play into the view points. Democrats are as much to blame along with their republican counterparts for the happenings of this nation. Nevertheless, President Obama is fighting both parties for the em betterment of this nation, for it to move ahead, and back into its proper spot at the top. As children, we were taught to lead by example...this should apply to adults and the global nations as well.
"My president is black, in fact he's half white, so even in a racist mind, he's half right." - Jay-Z
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