The Reality of Capitalism

RECEIVED Fri., Sept. 16, 2011

Dear Editor,
    1) These complex tax credits and financial games are all supply side, which does not work. If an electrician has laid off one-third of his workers and persuaded the other two-thirds to take 30-35 hours, a tax credit will not persuade him to hire. Demand for his services and products will cause him to hire. It's about demand. Build bridges and roads, put solar panels on every government building, run fiber to every household, hire 100,000 teachers. That is what will create jobs and taxpayers. Demand, not supply.
    2) Be aware that for the upper-middle class who vote, contribute, and run this country, full employment is a bad thing. It means higher wages and prices. They are not on the side of reducing unemployment.
    3) Social Security, Medicare, property taxes, sales taxes, gas taxes, and a host of hidden taxes ensure that the lower-middle class pay a higher percentage of their income in taxes than the wealthy. If only Social Security were a flat tax, it would be a great step forward. Stop the myth that Social Security is an insurance program. It is a tax on the middle class and the poor on the first dollar earned. And there are no deductions.
    4) Reject the myth that this is or ever was a "capitalist" country. There never has been a laissez-faire large economy in the world. Socialism, taxing for the common good, is the foundation of all industrialized nations. Now define the common good.
    5) The president should open the recruiting offices, enlist 14 million "soldiers," put them to work building, invoke the 14th Amendment, and borrow the money to pay them, and say "impeach me."
    6) A society in which people who want to work are denied the opportunity to work is so corrupt, greedy, and unpatriotic that it is doomed.
Phillip Watts
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