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Reimagining Capitalism: Nation Readers Respond

Atlas is shrugging

After reading some of the comments on reinventing capitalism, I am more convinced than ever that I will soon withdraw all my hard-earned money and move to the "gulch." I especially like the proposal from some guy in Florida suggesting that those making less than 40K a year pay nothing. Well, 49 percent of the country pays nothing now. Soon, I plan on joining them by not working anymore. I wonder how long most of you will be able to eat when you finally convince the idiots in DC to take away any and all incentives for those who actually work and make a difference. Maybe a year, maybe a few years, but eventually you will turn on each other, because no one will know how to do anything but raise taxes and blame somebody else. Good luck!

Terry Sanders

Macon, GA

Jun 14 2012 - 10:29am

Reimagining Capitalism: Nation Readers Respond

Resident Earned Income Tax Credit Voucher Card

Our tax code is riddled with loopholes for those who can afford it to escape taxation and undermined what is supposed to be a progressive structure of taxation. We need something much simpler and Robert Frank’s idea of a progressive consumption tax is the best idea I have seen to do this in the simplest way possible.

I would want to supplement Frank’s proposal in an even more progressive way by still providing incentives for work, savings and socially constructive investment without all the paper work. Why not give everyone a Resident Earned Income Tax Credit Voucher (REITCV) card. The amount on your card would be progressively dependent upon your earned income. Let’s say your first $25 K of earned income from the previous year would be matched at a rate of 40 percent, the next $50K at 30 percent, the next $100K at 20 percent, the next $200K at 10 percent, the next $400K at 5 percent and all earned income above that at 1 percent. These margins could, of course, be modified.

There are several advantages to such a system. Among these, work would be encouraged as well as the full reporting of all earned income. Incentives to do positive things like get an education or buy a home could continue, and even if politicians invented esoteric items for purchase with your REITCV card, there would be an absolute limit based on your earned income as to how much one could purchase, with higher income persons having a smaller percentage of income allowed on their REITCV card. With a robustly progressive consumption tax, this is bound to increase revenue, as it encourages honest reporting of all income, reinforces the incentive to work and provides lower-paid workers with greater income to use for purchasing products and services, which will strengthen their ability to earn and save more.

Much more could be said, but just think of how politically popular these would be with the American people, who are sick and tired of the headache of spending much needed time and money to find out how little they are worth and how much they owe. Why not relieve them of this burden while rewarding them for all of their hard work with substantially raised purchasing and saving power?

Cornelius Brantley Jr.

Morganton, NC

Jul 22 2011 - 8:22am

Reimagining Capitalism: Nation Readers Respond

Fascism is here

I really don't understand why the Republican/Tea Party can call the Democrats liberals (which is not a bad thing) or socialists (which is not a bad thing), Marxist and even communist—the Democrats have even been called un-American and un-patriotic—yet the label for the Republican/Tea Party agenda has never been spoken by anyone that I know of. There is only one word to describe their agenda and that word just happens to be fascist. They are taking our democratic country based on capitalism and turning it into a fascist country.

It was not hard for me to come to this conclusion, because all I had to do was to connect the dots. I read an article online (Rense.com) by Dr. Lawrence Britt, called "The 14 Defining Characteristics of Fascism," and I saw that we have hit all fourteen points and all the seven warning signs. I also read an article by Laura Dawn Lewis called "What is Fascism?"—these two articles plus others made me see things clearly. So why is this not being discussed in the media?

This Republican plan will affect the future of my children and all future generations. This scares the living heck out of me and I know that if I am not a part of the solution, then I am a part of the problem. Just look at what the 2010 elections brought into power with the Republican governors and the attacks that they have made on unions, teachers, firefighters, Planned Parenthood, education, Medicaid, public workers, immigration, regulations, gay rights and civil rights. And then take that to a high level to Washington and look at what the Republicans are doing there. The Ryan plan, trying to privatize Medicare and Social Security, the selling off of state highways and other property, the protection of the rich and corporate power over that of the middle class, the attack on and attempts at repealing the Affordable Health Care Act. Intertwining religion with government.

Since I am not hearing anything from the mass media, that now seems to be censored. All one has to do is to connect the dots. Why aren't they doing that? We are like sheep being led to slaughter, and who is fighting against this madness? Well, I am going to do whatever I need to do to make more people aware of what is coming or what is already here. That we need to unite and fight against this, and that is why the vote is so important. Even if you do not like all that Obama has or has not done, we can not allow the Republican/Tea Party to gain any more power than they already have.

We have to change direction on this. Even if it means that we take it to the streets and make Obama do what needs to be done. We can not let the Democrats sleep through this, If they are not going to give a good fight then we have to fight for them and make them fight with us. We can not allow the Republican/Tea Party to suppress the vote, so we have to make sure that we help all those we can to get the ID they need to vote, and that must begin now. We need to fight and fight now. I am just listening to the news now where New Jersey just stripped public workers there bargaining rights for healthcare. All you have to do is connect the dots. Our country is turning into a fascist country. What are you going to do about it?

Lyra Talarico

Mohnton. PA

Jun 23 2011 - 10:05pm