Capitalism has been hijacked

Capitalism has been hijacked:

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Capitalism has been hijacked.

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It’s been ruined by corporations, aristocracy and the ultra-elites.

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Not just in the West but globally.

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Decreased corporate taxes.

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Decreased capital gains.

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Free flow of capital between countries.

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No tax jurisdictions.

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Ability to buy elections.

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Ability to influence policy.

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Ability to change laws.

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Concentration of wealth to a smaller portion of the population.

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There’s a reason I keep writing about inequality.

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It’s one of the biggest threats facing humanity the next decade.

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History tells us when inequality gets too high, revolutions happen.

Sadly it feels like that’s where we’re headed.

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We live in a world of socialism for the rich with the free market for everyone else.

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And for all you billionaires who believe you’re capitalists, why not allow businesses to fail?

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Even banks?

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Central bankers and corporations hijacked politics to where they now get bailed out when they screw up.

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Capitalism works when it’s regulated and things are allowed to fail.

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It fails when we bail out everyone and deregulation happens.

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When the rich and corporations are allowed to decide tax policy.

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When companies like Apple, Amazon and Facebook pay nothing in federal taxes.

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NOTHING.

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The US government, for all the work, IP and time they’ve provided those companies, get nothing.

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ZERO.

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They make billions of dollars a year in profit and pay nothing.

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It’s disgusting.

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It’s getting out of hand.

Productivity has massively increased in the last 50 years but that wealth is being concentrated in the hands of smaller and smaller groups of people.

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That is a horrible trajectory for society.

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Very similar to the British and French in the 18th and 19th centuries.

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Was beautifully described in the documentary ‘Capital in the 21st Century’.

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It’s based on a book by a French economist, Thomas Piketty.

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What a beautiful human being.

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Thank you for sharing your knowledge with the world.

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The lesson is pretty clear.

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History follows distinct patterns.

The battle between capital and labour has existed for millennia.

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All the way back to the Ancient Romans and Greeks.

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When you have an eroding middle class, people rise up and revolt.

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Given the last 50 years and the widening inequality gap, that future doesn’t feel too far away.

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Doesn’t mean we have to go there.

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We need politicians and leaders globally to change their tax policy.

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Whether by volunteering now when things are peaceful, or when the revolutions begin.

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As one of the interviewees put in the documentary, capital will be forced to change it no matter what they think.

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Higher taxes are coming.

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Spending cuts are coming.

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Tough decisions are coming.

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The issue is we need a global system.

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Higher taxes makes no difference if you can just move money around.

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Which is what the rich and corporations have done for decades.

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As mentioned in the documentary, you need sanctions on all jurisdictions that are tax havens.

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That only happens with a political change.

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Will that happen when every congress member only has their job because of donations from the rich?

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The same people who buy elections and candidates?

The same people who are hiding the money in these places?

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Not voluntarily.

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But it will happen when they see revolutions in their backyard.

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On our current path, that future is coming.

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It doesn’t have to be that way but it will.

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It will if capitalism isn’t reformed.

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Corporations and the ultra-elite have hijacked it.

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It’s time to take it back.

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