Tax the rich, find alternatives to capitalism

Guest Column

By JORDAN FANNIN

Published: Thursday, April 5, 2012

There is nothing more indicative of the fact that the play of humanity is a tragicomedy than when a worker can, in one gesture, turn out their empty pockets to the International Revenue Service while declaring with all sincerity that increasing taxes on the rich is, by its very nature, the punishment of success.

The crescendo of free market and doomsday prophecies has subsided and in its place we hear a new cry: Tax the rich! Finally awoken from their slumber, the people are just now recalling that the slanderous assault on so-called “socialism” was never a reality, but merely a nightmare. And how could we not? It was not three decades of harsh federal regulations that resulted in the global economic crisis, but the wholesale deregulation of risky, white collar gambling. It was not 30 years of overbearing taxes upon the wealthy that sucked dry the social and economic safety nets that provide us with stability, but tax evasion, cuts and fraud. Nor was it the bolstering of union power that crippled industry, but the outright massacre of organized labor.

One need only briefly examine the economic and political trajectory of the last three decades to come to an unwavering conclusion about the cause of the economic strife and political terror that threatens to suffocate us today.

Needless to say –– the residue of the McCarthy witch hunts and the astronomical effort put forth to smear and slander any and all elements of the Left continue to hamper our progress in encouraging a critical dialogue about capitalism and its alternatives. Luckily, recent events have helped us to begin to overcome these barriers –– from the Arab Spring to Occupy Wall Street, we find that even our greatest detractors feel the need to defend their sacred calf, whereas in the past its sanctity was supposedly self-evident.

While the Thatchers and Reagans of the world see this new popular discourse as a means of defending an obviously failing system, the mere existence of such a discourse betrays the frailty of capitalism.

Why must we tax the rich? Even if we set Marx aside and examine the current economic and political climate from a more moderate perspective, the reasons are clear: A deteriorating economy, abysmal levels of unemployment, overwhelming personal and national debt, depreciating wages, and low demand make for a cocktail of serious problems that cannot be ignored and whose solutions necessarily require large sums of money.

That money must come from somewhere and the reasons themselves speak to why that money must come from the wealthy: We cannot squeeze blood from a stone. The middle class –– if one ever truly existed –– is no more and the working class has shouldered the entire burden of our global economic crisis.

Only one class profited from the crisis, and even those who took a blow (though one could hardly call it such, given their enormous wealth) want for nothing. Except, perhaps, another personal jet. The logic is clear: We need money. Who has the money? The ruling class.

If we want to go so far as to base our judgment on moral or ethical grounds, again the reasons are clear. The economic crisis was not, as some may say, the result of this-or-that action of this-or-that individual or firm. It was, instead, an historical process that unfolded year after year. The ingredients that mixed to produce such a horrid dish, however, all came from the same pantry. Who had the will and power to deregulate hazardous markets? Who had the will and power to push for tax cuts, evade taxes and commit tax fraud? Who had the will and power to effectively assault the unions?

Who actively engaged in criminal (or at the very least unethical) activities that ignited and compounded the global economic crisis? Finally, who had the will and power to demand taxpayer money in the form of a bailout, which was never seen nor heard from again? It was not the teachers nor the coal miners. It was the wealthy.

While the suits repeat the refrain “There is no alternative to capitalism” we respond, with great humor “There must be!” For if there is no alternative to the current economic system –– whatever that alternative may look like –– then humanity is most certainly doomed.

Jordan Fannin can be contacted at fannin31@marshall.edu.

CONTINUE READING…

Advertisements

One thought on “Tax the rich, find alternatives to capitalism”

  1. This is a familiar theme from the Left….. blaming Capitalism instead of rampant Cronyism for our ails. Wealth creation in the name of Capitalism without ethics, honesty or morality is not Capitalism. Yes Sir!! There are corrupt people in this country and they have created an enormous contrast in wealth between a very few compared to a great many. For at least the last 50 years, this corruption has fleeced America and it is a travesty beyond words to describe. Judging by the standards set by the rest of the world however, there’s nothing out there I’d trade Capitalism for. If you want to talk enforcing legitimate law – returning to the practices that made us the envy of the world – legitimately punishing the corrupt – I’m with ya all the way. If the intent is to sell people that honest Capitalism doesn’t work then look toward Europe and count the tiny number of winners lavishing in the wealth created by their countrymen and take measure the enormity of their inequities.

    It is indeed a terrible thing for individuals to wrongly create such a fantastic contrast in wealth between so few compared to so many but it is much worse for government to impose the same thing. We have a chance yet to fix our corruption (though the window to do so is getting small). The Europeans have no shot at all short of a bloody 21st century version of revolution. This happened to them back in the late 1700s, it would be nice if we could remember that.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s