Stom wrote: ↑Wed Sep 04, 2024 3:08 pm
Son of Mathonwy wrote: ↑Wed Sep 04, 2024 2:16 pm
Stom wrote: ↑Wed Sep 04, 2024 1:14 pm
I would say that...it's an extremely difficult balancing act. The problem with economies in this
post-capitalist world is just how beholden they are to massive corporations.
So take actions to reduce poverty by increasing corp. tax and other actions that "harm" shareholder profits, and the economy tanks, causing a bigger problem.
So it's step by step and stealth changes.
It's f***ed up, for sure. But it backs "progressive" governments into a corner. I'd trust Starmer more than nearly every progressive to actually have a plan to deal with this. He's not simply a fundamentalist, but the way he's talked about his politics and how he thinks about other people in the past paints him very much as a humanist and a realist. And I think that's exactly what we need right now.
Post-capitalist? When did it stop being a capitalist world?
Yeah, well I don't think the economy tanks if you tax the corporations a bit more (although my focus would be on taxing the rich directly, not via their corporate shareholdings). I really don't think progressives are backed into a corner. More likely that Starmer really isn't much of a progressive.
Anyway we'll see how it goes in the budget.
Well, it’s really Neo capitalism, but it stopped being a capitalist society sometime in the 2000s or early 2010s, because capitalism can’t exist with monopolies or oligopolies, and we definitely exist in that world now.
The “rich” aren’t the problem. The problem is corporations. But they wield too much influence over economies, so we need to be careful
Yeah, well we probably shouldn't waste too much time arguing over these terms. I think capitalism is generally considered to be a broad category including any system based on private ownership of capital and its operation for profit. Capitalism can certainly exist with monopolies and oligopolies because it still fits that definition. Also, do you really think monopolies and oligopolies only appeared this century? They've always existed.
https://en.wikipedia.org/wiki/Capitalism
What we have now, as the dominant model of capitalism, is
neoliberalism, which broadly took control in the 80s, with Reagan and Thatcher: the idea that markets are free and will deliver the best solutions, so should be unregulated and the state should do as little as possible.
Re corporations, I don't disagree that they are a massive problem - too powerful, monopolistic, unregulated, influential over politics etc. My point is about raising tax revenue, not about regulating corporations (which absolutely needs to be done better). However, I disagree that the rich (separate from their corporations)
aren't a problem - if they can buy politicians or fund think tanks (or have an obscenely large carbon footprint) then they are a problem.
The problem with trying to raise revenue by increasing corporation tax is that the rich who control the companies will simply pay themselves more through salaries (rather than through dividends or share issues), and thus get taxed more via income tax rather than corporation tax. (NB I'm not saying I'm against corporation tax but I don't think it's the main answer).