Headline April 24, 2018/ ''' CAPITALISM CORE CATERING '''

''' CAPITALISM CORE CATERING '''

WHY YOUNG PEOPLE hate capitalism.................

In November 2017, the Republican tax bill began hurtling through Congress tilting the United States  tax code to benefit wealthy Americans

As Republican leaders began pressing for a Senate floor vote, there appeared to be little momentum for amendments that would help low-income Americans which some Republican and many Democrat senators had sought.

*AFTER THE FALL OF COMMUNISM* - capitalism came to seem like the modern world's natural state, like the absence of ideology rather than an ideology era.

On a Friday night last month, I moderated a debate in Manhattan about whether we should scrap.......capitalism.

It was organized by the socialist magazine Jacobin, defending capitalism were editors from the libertarian publication Reason. Tickets for all available 450 seats sold out in a day.

So Jacobin moved it to a venue that holds around twice as many. The extra tickets sold out in eight hours.

*When I arrived people were lined up for blocks; walking to the door, I felt I was on the guest list at an underground night club

Most attendees appeared to be in their 20s and 30s part of a generation that is uniquely suspicious  of capitalism, a system most of their elders take for granted.

The anti-Communist Victims of Communism Memorial Foundation was alarmed to find in a recent survey that 44 percent of millennials would prefer to live in a socialist country, compared with  42  percent who want to live under capitalism.

For older Americans, the collapse of Communism made it seem as though there was no possible alternative to capitalism.

But given the increasingly oligarchic nature of our economy, it's not surprising that for many young people, capitalism looks like the god that failed.

Nowhere is that clearer than the wretched tax bill passed by the Senate in the early hours of Saturday morning, which would make the rich richer and the poor poorer.

According to the nonpartisan Tax Policy Center, the bill directs the largest tax cuts as a share of income to the top 5 percent of tax -payers.

By 2027, taxes on the lowest earners would go up.

Millennials, a generation maligned as entitled whiners, would be particularly hard hit.

As Ronald Brownstein argued in The Atlantic, the rich people who would benefit from the measures passed by the  House and Senate tend to be older and [and whiter] than the population at large.

Younger people would foot the bill, either through higher taxes, diminished public services or both.

They stand to inherit an even more stratified society than the one they were born into.

Here one example. The Senate bill offers a tax break for parents whose children attend private school.

But it cuts deductions for state and local taxes, which could make it harder to fund the public schools where the vast majority of millennials will send their kids.

There is no coherent economic rationale for what Republicans are doing.

Academic economists are basically unanimous that the Republicans tax plan would increase America's deficit, which Republicans used to pretend to care about.

With unemployment low, many experts say the economy doesn't need a stimulus.

The tax cuts are likely to increase the trade deficit, which President Trump purportedly wants to reduce.

Republicans often say they want to simplify the tax code, but as the accountant Tony Neil argues in  Forbes, the tax bill would make much of it more complex.

The Honor and Serving of the latest Operational Research on Capitalism and Socialism continues. And as ever, the World Students Society thanks author and researcher, Michelle Goldberg.

With respectful dedication to the Leaders, Parents, Students, Professors and Teachers of the world. See Ya all on !WOW! - the World Students Society and Twitter - !E-WOW! - the Ecosystem 2011:


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SAM Daily Times - the Voice of the Voiceless