Capitalist Voters

Capitalist Disgrace: Megaload.com sought to make millions with no respect for artists' rights

This week a massive file-sharing service partially headed by hip hop producer Swizz Beatz -- singer Alicia Keyes' husband -- was shut down by the federal government for copyright infringement. Beatz, who has worked with Jay-Z and Chris Brown, is the chief executive officer of the company, MegaUpload, that allegedly raked in millions without getting permission from record companies and artists to swap their intellectual property.

You would think that as a creative artist himself Beatz would show more respect for copyrights. Of course, I guess for many leeches pretending to be businessmen, nothing is more persuasive than greed. Read more about Capitalist Disgrace: Megaload.com sought to make millions with no respect for artists' rights

Is Stakeholder Capitalism Right for America?

This week, Michael Lind, economic policy director of New America Foundation, theorized that in order for capitalism to thrive again America, the country must shift from shareholder capitalism to stakeholder capitalism.

I like the tenets of stakeholder capitalism, although I’m sure some conservative Americans will dismiss it as too socially conscious and utopian.

In a nutshell, stakeholder capitalism is when corporations seek to benefit not just themselves but everyone who has a stake in their business, from customers who buy services and products to vendors who supply necessities to communities at large. This clashes with how capitalism is currently practiced where companies are focused on reaping dividends for investors and profit for themselves with no thought about how workers, families and communities are affected. Read more about Is Stakeholder Capitalism Right for America?

Yogic consumers hate capitalism?

Unless they are practicing yoga naked, I sense a conflict.

When a Texas-based fitness store, which sells loads of high-priced garments for yoga decided to add the famous “Who is John Galt” slogan from “Atlas Shrugged” to its shopping bags, some yogis were incensed, claiming a conflict of values.
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Young people think more highly of socialism than capitalism?

Blame Madoff, Lay and all the other tricksters

A recently released study by the Pew Research Center would make Ayn Rand roll over in her grave. The Russian philosopher who touted America’s laissez faire capitalism as the best economic governing model in the world would be shocked to know that nearly half of today’s Americans between age 18 and 29 view socialism more favorably than they do capitalism.

The "99%" Recuits The Other "1%"? Maybe.

The Resource Generation, claiming to represent the other 1%, joins the Ocupy Wall Street protestors.

Occupy Wall Street has continued to grow and spread over the previous months into not only a national movement, but an international one. Recently, it seems, the movement, which refers to themselves as “the 99%”, have even converted another group to their cause: the other 1%. Similar to ultra-rich mogul Warren Buffet asking President Obama to raise his taxes, a group of alleged One Percenters has come forward in support of the other 99%. This group, called The Resource Generation, has been plugging their message on social media networks. A mission statement on their website reads: “We believe that we have more than we need, while the 99 percent struggles to survive. This has to change. We believe in an equitable distribution of wealth.” Read more about The "99%" Recuits The Other "1%"? Maybe.

Goldman Sachs Pulls Donation to Non-Profit Honoring Occupy Wall Street

The Lower Manhattan People's Credit Union became a battleground between stakeholders in the OWS/Wall Street melodrama.

A small fundraiser for an equally small credit union turned into a battleground when Lower Manhattan’s People’s Credit Union invited Goldman Sachs to a fundraiser where, amid other honorees, the Occupy Wall Street protestors were being honored. Shortly after invitations went out, Goldman Sachs pulled a $5,000 donation to the non-profit unless Occupy Wall Street was removed from the list of honorees. The People’s Credit Union refused and Goldman Sachs withdrew, along with its donation. Pablo DeFilippi, associate director of the National Federal Association of Community Development Credit Unions, told The Wall Street Journal, "Their money was welcome, but not at the price of giving up what we believe in.”

Paul Krugman: “Economic Royalists” Are The Real Extremists

In defense of Occupy Wall Street protestors, Economist Paul Krugman points to reactionary Republicans and super-wealthy as the real extremists.

In a recent Op-Ed in the New York Times, economist and essayist Paul Krugman came to the defense of Occupy Wall Street protestors, whom had been characterized as “mobs of extremists” and “anarchists” by opponents. He points out the “hysterical reactions” of Wall Street financiers, as well as the conservative pundits and politicians that “reliably serve them”. The reactions show a knee-jerk defensiveness among segments of the population that have institutionally protected many of the Wall Street interests that are so derided by OWS activists, even making flagrantly sensationalized pronouncements that have nothing at all to do with the moderately sized, and growing, protests. Read more about Paul Krugman: “Economic Royalists” Are The Real Extremists

Tax Breaks for Families Far Outweigh Tax Breaks for Corporations and Special Interests

They damn well better.

A recent article by the Washington Post hopes to shed light on exactly where the federal money is going, and in their game of chase-the-buck they hit on something that, although conservatives may shake their heads in dismay, have me thinking there might actually be some justice in the system. Of course, it's all in how you look at the numbers. According to the Post, tax breaks in total have nearly doubled since the last overhaul of our tax code nearly 25 years ago. In addition, the lion's share of those cuts to the tax code have been paid forward to American families. As the conversation has turned steadily toward the question of government handouts to special interests and corporations; loopholes, "carve outs", subsidies, and the like, this may come as somewhat of a shock. $1.08 trillion goes out the door in tax cuts and, as the GOP likes to characterize them, "hand outs". Only 8% of what the government pays out is to corporations and special interests. Here's the aftershock: the government brings in about $1.09 trillion in income tax revenue. In other words, they're almost paying out as much as they're taking in. Admittedly, that is a problem. However, the ratio of tax cuts to American families to subsidies and the like for special interests sounds about right. Read more about Tax Breaks for Families Far Outweigh Tax Breaks for Corporations and Special Interests

Obama Considers New EPA and Transportation Regs With $1 Billion Price Tag

President Obama is considering 4 EPA regs and 3 DOT regs with an annual federal cost of $1 billion.

President Obama and congressional lawmakers' famous squabble over the debt deal this summer has left some firmly entrenched ideologies on both sides of the economy. In one case Democrats are dead-set against major cuts to entitlements like Medicare and Medicaid, and are advocating further stimulus spending. Among economists that believe in further federal stimulus to bolster the economy, there are estimates that as much as $300 billion would be necessary to prevent backsliding. Of course any kind of increase in spending will be anathema to congressional Republicans that have already established a hard line against any increases to government spending, instead pursuing a strict campaign to cut federal spending and taxes. That makes president Obama's recent announcement, that he's considering seven new regulations that would cost the government up to $1 billion annually, a highly unlikely sell to "limited government" Republicans across the aisle. Read more about Obama Considers New EPA and Transportation Regs With $1 Billion Price Tag

Koch Brothers Rebuff Buffet On Raising Billionaire Taxes

You know the whiny rich kid in class that had everything and still threw tantrums when the teacher didn't treat them first? Meet the Kochs.

Last week free-market guru Warren Buffet wrote an open letter to what he called a "billionaire-friendly congress" that asked them to stop coddling the super-rich and to raise their taxes; a welcome bit of lucidity from the upper-most tier of the upper class. The reactions to Buffet's congressional admonishment were predictable, with many of the Republican conservatives spouting more anti-government rhetoric, and liberals and Democrats hailing him as a capitalist hero. His letter even coincided with another private sector appeal from Starbucks CEO Howard Schultz; for companies and corporations to stop donating to political campaigns until they can come to a "fair and bipartisan agreement" and for the private sector to start hiring. In that moment it almost sounded like big business actually had middle-class backs. Then the Koch brothers put their two cents in, and we're back where we started. Read more about Koch Brothers Rebuff Buffet On Raising Billionaire Taxes