Name:   lotowner - Subject:   Newspaper Reporter, Views on Capitalism Date:   12/21/2010 7:47:31 AM (updated 12/21/2010 7:49:42 AM)

We have mentioned the Liberal Media, the Obama Administration, and Progressives view on Capitalism many times on  this forum. Recently, I corresponded with a reporter on on article written on Capitalism. Below in bold letters is is the meat of the response that I received. Folks - Redistribution of Wealth is NOT a myth - It's real. Our country is in the midst of a revolution. The leaders of this movement are intelligent, dedicated, and want change IMMEDIATELY.

My view is that U.S. capitalism is teetering on the edge of a cliff. It survives because the masses irrationally believe they have a chance to accumulate wealth. For the same reason people keep buying lottery tickets -- every once in awhile someone wins big -- they support capitalism despite being oppressed by it. They even oppose higher taxes on millionaires, because the lottery mentality convinces them they will one day be in that class.

In a democracy, the masses can change the economic system. The people, if they realize their dreams of riches are unrealizable, can impose confiscatory taxes on the wealthy. They can exact 100 percent estate taxes. They can give government control both of production and of allocation of capital.

Some believe socialism is the answer. The majority does not receive the desired benefit from our economic system, so the majority should change it.

My view is that capitalism is the most efficient method devised for allocating resources.

The change I want to see is one that gives the masses a realistic route to accumulation of capital. I want the smart kid in ………….. to have a realistic chance at success in a capitalist system. I want this in part because I care about the child. Also, though, I believe it is the only way capitalism can survive in a democracy. As wealth polarization increases, the lottery mentality that props up capitalism must finally crumble.

So yes, I want higher taxes on the rich. Not so high that they eliminate the incentive for continued innovation, but high enough to fund programs that give the poor a realistic path to capitalist success.

I love America. I accept capitalism as the best economic system available, provided it is tweaked in such a way that all those in the democracy that allows it to function have a realistic opportunity to succeed