Posted on 07/09/2011 11:02:19 AM PDT by 1rudeboy
President Barack Obama needs to go further than criticizing millionaires and oil companies. He needs to propose an industrial policy.
In his June 29 news conference, Obama was right to come out against tax breaks for millionaires and billionaires, corporate jet owners and oil and gas companies.
What is passing as the free market is a system of giveaways to those who don't need it -- the richest Americans, corporations that relocate jobs overseas and banks that are "too big to fail," yet have failed the economy with their predatory practices.
With more than 10 million jobs lost to the recession, and the private sector sitting on cash, it is clear that the United States is on the wrong course, a course that won't be corrected with more tax cuts and deregulation. America needs a plan, and it must generate growth by selling and exporting things people will buy, rather than through credit-fueled consumption and a reliance on fossil fuels.
This is where industrial policy comes in. Industrial policy is when a government fosters the development of certain industries or sectors through loans, subsidies or other support mechanisms. The idea is that government intervention, particularly in collaboration with the private sector, can bring sustained growth that benefits the whole society.
(Excerpt) Read more at timesunion.com ...
Because communism works every time it is tried.
/sarc
jawohl Mein Fuhrer!
This point needs to be pounded home daily.
>>This is where industrial policy comes in. Industrial policy is when a government fosters the development of certain industries or sectors through loans, subsidies or other support mechanisms.<<
AKA, “Picking winners and losers” guaranteed to ensure institutional corruption pretty much forever as well as an all but immediate federal bankruptcy.
To paraphrase Winston Churchill — “Capitalism is the worst economic system on Earth, except all the rest.”
Our buddy Hugo in Venezuela calls this Expropriadze, nationalizing entire industries.
You know, like health care.
Stalin would be proud, if he weren’t gasping in flame, darkness and smoke.
Industrial policy is nothing new. For example, President Franklin D. Roosevelt's New Deal allowed the nation to recover from a crippling Great Depression.
This answer would get you an F in American History, as taught in Private and Parochial schools.
>>David A. Love writes for the Progressive Media Project.
Kinda says it all, doesn’t it?
Who decides this, some brainless, commie boy, newspaper journalist?
A pearl of wisdom in a bucket of crap. There is no disagreement that America needs to export more manufactured goods.
How do you suggest we increase American exports?
Otherwiae known as fascism, advocated by a "progressive." Both forms of totalitarianism meet and cross pollinate in 20th century American liberalism.
Since before Caesar crossed the Rubicon the world has run on individuals pursuit of there own self interest. The greatest inventors who’ve created the greatest inventions which led to the greatest advances known to civilization, whether in music, art, literature, science, medicine, industry, agriculture, architecture or technology have never come from people that lived in countries with centralized governments. Ever.
Einstein didn’t come up with his theory under an
order from some government bureau. Henry Ford didn’t revolutionize the automobile industry that way or Les Paul the music industry. Bill Gates didn’t develop Microsoft under orders from some government bureaucrat. In the only cases in which the masses have escaped from the kind of grinding poverty liberals talk about...the only cases in recorded history, is where they’ve had Capitalism and free trade market government systems.
If you want to know where the masses have been worst off, they are exactly the kinds of societies that depart from that. Recorded history has been crystal clear that there is no alternative way so far discovered at improving our way of life that can hold a candle to the productive activities that are unleashed by free trade enterprise markets.
This is, of course, partially correct.
The answer is not to increase the number and size of giveaways, which is all "industrial policy" is. The answer is to eliminate all giveaways and return to a more or less true free market.
No society has ever operated under a true free market (or a completely state-controlled system, for that matter), but there is a spectrum from free to controlled, and where you are on that spectrum is critical.
Not taking what isn’t yours to begin with isn’t giving, it’s less plundering. Giving what isn’t yours to give, as in giving the elite a bailout and stimulus to become more elite is fascism. Feeding a fascist government like this one with more and more taxes is the wrong thing to do. Starve it. Leave the corporations and private jet owners alone, and make this fascist government smaller until it ceases to be a fascist government.
Overhaul the corporate income tax system. You could start by not taxing the income from products made here and shipped overseas. That’s only one way to do it.
The fact that it has led to tyranny, poverty, deprivation and mass death in every place it has been tried is no impediment to those who believe human beings are perfectible and that government is the agent of perfection.
Free markets are always held to have "failed" by those who dislike the choices of others and would gladly substitute their own.
President Barack Obama needs to go further than criticizing millionaires and oil companies.
Yep. He needs to criticize lazy, government dependent, government employed, ego-consumed, citizens; those who have no concept of a competitive, self-evaluating, "global community."
Bet he doesn't do it.
"David Love" IS the problem.
Johnny Suntrade
These so called giveaways are the individuals or corporations that hire millions of so called peons. If you drain the swamps you are destroying jobs. There is no way to tax the rich. Those rich usually own various corporations or services that they will pass the increase tax to the consumers. Therefore it is a tax on the consumers, or to the lame too stupid to understand, us. Talk about dumb Americans.
Yup. It’s based on the notion that people aren’t capable of making their own decisions wisely.
But there is a special group of people capable of making wise decisions not only for themselves, but also for everybody else.
How’s that again?
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