socialism for the rich meme
The quote from The Other 98% was quite similar to Kings original version, but not identical. The best evidence is the last year: Were in the middle of a pandemic that has crushed jobs and small businesses but the stock market is soaring. unelected bureaucrats pick economic winners and losers, a massive influence over the distribution of income, indolent Americans live off the hard labor of others, wage growth must be tepid while corporations sit on cash, required massive state violence and investment, consequential policy choices of the past decade, needlessly consign Americans to involuntary unemployment. Overnight, Wall Street became big-government socialists and begged for the largest federal bailout in American history over $1 trillion from the Treasury and even more from the Federal Reserve. But the Laffer curve did remind economists that a revenue-maximising top tax rate somewhere between 0% and 100% must exist. Many people see this outcome as a reflection of the different values that shape US and European societies. Judy Shelton, the top candidate for Donald Trumps next Fed nomination, understands the hazards of acknowledging that America already resembles a socialist country, at least in the nomenclature of a conservative polemicist. Nov 01, 2016 Common Dreams. And it builds on what Martin Luther King, Jr. said in 1968 when he stated that; This country has socialism for the rich, and rugged individualism for the poor. It builds on the success of many other countries around the world that have done a far better job than we have in protecting the needs of their working families, the elderly, the children, the sick and the poor. They have a lazy-image-editing-is-the-point aesthetic that was made popular via 4Chan then, later, Tumblr. While it's not entirely clear who coined the phrase "socialism for the rich, free enterprise for the rest," its ability to provoke -- and, more importantly, to describe -- is beyond question. Think infrastructure, energy . They exert more and more influence on politics, from election-campaign funding to lobbying over particular rules and regulations. Wall Street CEOs who help destroy the economy get raises in their salaries. Although politicians can ignore this truth for a while, it suggests that widespread opposition to higher taxes on the rich is ultimately based on reasons beyond economics. [6][7] Since at least 1969, Gore Vidal widely disseminated the expression "free enterprise for the poor and socialism for the rich" to describe the U.S. economic policies,[8][9] notably using it from the 1980s in his critiques of Reaganomics. The Princess of the Levant sent me a visual version of Churchill's quote, and it's definitely worth sharing. Every day updated. The power of a grand political transformation seems persuasive. If the success of capitalism depends on someone being smart enough to know what the rate should be on everything were doomed. Yet it proved irresistible to Reagan, the perennial optimist, who essentially overruled his expert advisers, convinced that the entrepreneurial spirit unleashed by the new tax cuts would surely bring in more revenue than his experts imagined, as the historian Daniel T Rodgers put it. Sure, we could then just print even more money, but that could threaten the status of the dollar as the worlds reserve currency and raise our borrowing costs even more. Another prominent iteration of the quote appeared on Wikiquotes Democratic Socialism page, under the letter K: A citation for that quote led to a since-removed webpage on Bernie Sanders.com (Senator Bernie Sanders on Democratic Socialism in the United States.) An archived copy of the page included a 2015 quote from Sanders, who in turn was purportedly quoting King: People are not truly free when they are unable to feed their family. While many social media users appear to use revolutionary language and references to make jokes and rhetorical points rather than to plot uprisings, the line between irony and sincerity isn't always clearly drawn. Parents teach their children that almost all goals are attainable if you try hard enough. She explains the press to the president, preaches Twitter-is-not-real-life, and keeps the West Wing from leaking. He offered gold-wrapped candy bars in a stunt that showed he isnt a worthy successor to his dad. The main parliamentary parties are now devoted to the same economic policies socialism for the rich, capitalism for the poor and the same foreign policy of servility to endless war. Socialism includes the collective ownership of the means of production, central planning of the economy, and the emphasis on equality and economic security with the goal of reducing class . Yet it may not be a loss for the left. In most rich countries, inequality is rising, and has been rising for some time. This country has socialism for the rich, and rugged individualism for the poor. One crucial reason why we have done so little to reduce inequality in recent years is that we downplay the role of luck in achieving success. Less abstractly, the introduction of private property across the North American continent required massive state violence and investment. these are always influenced by the policy choices of both the central bank and the elected government We should adopt a more expansive and thus more realistic and more politically productive view of the central banks role in directing credit and shaping outcomes in financial markets. Regarding another ongoing Covid danger, that of reinfections, a virologist sets the record straight: There has yet to be a variant that negates the benefits of vaccines.. And even if we raise taxes on the rich and direct more relief to the poor, which I favor, when you keep relying on this much stimulus, argues Sharma, youre going to get lots of unintended consequences. Although Laffer does not remember doing so, he apparently grabbed a napkin and drew a curve on it, representing the relationship between tax rates and revenues. A 1993 New York Times articleabout Martin Luther King, Jr. (Kings Light, Malcolms Shadow by Michael Eric Dyson) reported: As King grew more suspicious of our nations ability to change, his language became more radical, his temperament less patient. The extent of our poverty has suddenly become visible. By suppressing demand in a noninflationary environment, the Feds rate hikes since 2015 have served to needlessly consign Americans to involuntary unemployment and reduce the leverage workers exercise over their employers. The deadwood never falls from the tree. See, rate and share the best socialism for the rich memes, gifs and funny pics. Lets begin with the underlying idea: if lower tax rates raise your after-tax pay, you are motivated to work more. On this Wikipedia the language links are at the top of the page across from the article title. share. Best socialism_for_the_rich memes - popular memes on the site br.ifunny.co. Password must be at least 8 characters and contain: As part of your account, youll receive occasional updates and offers from New York, which you can opt out of anytime. A "Do-It-Yourself" Vision. So, yes, yes, yes we must, right now, help our fellow citizens, who are hurting, through this pandemic. The great economist John Kenneth Galbraith nicely summarised the problem: One of mans oldest exercises in moral philosophy is the search for a superior moral justification for selfishness. 1) The concept it criticizes -- distribution shared equally by everyone, regardless of their efforts -- is far more an expression of communism than of socialism (the latter being a system that. And a linguist named Emily M. Bender is very worried what will happen when we forget this. Among the majority of Americans who have a negative impression of socialism, no single reason stands out. About one-in-five (19%) say that socialism undercuts people's initiative and work ethic, making people too reliant on the government for support. It usually doesnt end well. It is one described as a parade of millionaire pop stars, wealthy actors, New York socialites, trust fund society swans and members of the glitterati. They reflect the need for, and the reality of, conscious planning in financial markets. How will the virus continue to change? Senate Majority Leader Mitch McConnell dubbed the effort to increase direct payments to $2,000 socialism for rich people, eliciting an incredulous reaction from Sen. Bernie Sanders as the GOP Senate continued to decline to take up the matter on Thursday. Who is man to challenge the wisdom of the market gods? Tight money will privilege those rich in cash by increasing the value of their holdings and thus, the interest rates they can charge for lending them. The novel influenced many violent right-wing extremists from the 1980s through the 2010s, including Timothy McVeigh. Inequality is unlikely to fall much in the future unless our attitudes turn unequivocally against it. As a subscriber, you have 10 gift articles to give each month. But to economists, his ideas were both familiar and trivial. The phrase may have been first popularized by Michael Harrington in his 1962 book, The Other America,[3][4] in which he cites Charles Abrams,[5] a well-known authority on housing. However, if the only function of the state is to support private ownership rights (maintaining a legal system, police, and so on), it seems that taxation could be very low and any further taxation on top could still be seen as a form of theft. Our vision pushes further than historic social democracy and leaves behind authoritarian visions of socialism in the dustbin of history. You\'ll receive the next newsletter in your inbox. Once we take care of the pandemic, we need to sort this out. Share this quote: Like Quote. But ignorance cannot be a complete excuse, because surveys also reveal a change in attitudes: rising inequality has become more acceptable or at least, less unacceptable especially if you are not on the wrong end of it. The group included the Chicago University economist Arthur Laffer, Donald Rumsfeld (then chief of staff to President Gerald Ford), and Dick Cheney (then Rumsfelds deputy, and a former Yale classmate of Laffers). Privacy Policy and It is the norm across the entire corporate world.. The Californians have been booted from Frogmore Cottage because the king (or the character invented by the U.K. press) has had enough of their abuse. And in fact, support for such beliefs is stronger in countries where there seems to be stronger evidence that contradicts them. So much wisdom in this meme. But instead of more cash handouts, maybe we should do it the way the Koreans, Taiwanese, Singaporeans, Chinese and other East Asians have been doing it cash assistance to only the most vulnerable and more investments in infrastructure that improve productivity and create good jobs.