1º(B.A. Bible/Biology)*
CAPITALISM SHOULD BE ON SOCIETY'S TERMS
Many in society have been taught to believe that the public has no right to tell corporations what to do with their money any more than a private citizen has the right to tell his neighbor what to do with the money he earns from a business or store. This is not a fair analogy.
True enough that a private citizen doesn’t have the right to tell his neighbor what to do with his money but the public does have the right to tell corporations what to do with their money. Why? Because corporations couldn’t exist without very special and unique government help. Corporations are special legal entities that have unique rights, privileges, and protections given by government that ordinary citizens and business owners do not have. And, since the government in a democracy like ours comes from the people (the majority in society) and it's the people's government that gave corporations their unique rights and privileges, the people have the right to determine how corporations act and how they spend their money. The majority in a democracy own the franchise of government!
Therefore, the public has a right to demand something from corporations in exchange for giving corporations the right to exist. Would I not have the right, even as a private citizen, to demand something from a business built on my property? The same logic applies to the relationship between the public (society) and corporations. Corporations cannot hide behind the specious argument of rugged individualism!
Many in our society have been brainwashed to believe that an absolutely free marketplace with no government controls or regulations would automatically fix our nation’s problems. Have we forgotten already that the Great Depression of the early 1930s was the direct result of a free market economy with no government control or regulation? The 2008 market crash was because of lack of enough government regulation in capitalism, and if government hadn't intervened to rescue the banks capitalism would have ended in our country and we would have all starved to death. That's right!
Rugged individualism teaches that the individual has the right to benefit from social and economic interactions with society, but that society has no right to demand any benefit from the individual.
No one has absolute individual rights in society. Those who want absolute individual rights must live outside of society. Those who want to be part of society with the benefits of government and law must be willing to grant what the majority want, even if it’s at their own expense.
Yes, minorities have rights, but the majority has more rights. Absolute individualism is absolutely unfair. The majority has the right to tax an individual and collect money to build a park even if that individual doesn’t want the park and will never use the park. The majority has a right to tax an individual and use the money to provide welfare or help to those who genuinely can’t help themselves in society.
Self-proclaimed rugged individualists in society want all the benefits of what the majority has to provide - government, law, security, and protection - but they do not want give up anything to the majority in exchange for these benefits. These so-called rugged individualists are the real leeches and parasites of society.
The fact is there are no real rugged individualists in society!
If capitalism and social consciousness cannot coexist, then how is it that modern industrialized nations such as Canada, Sweden, Norway, Denmark, and others can have a high degree of social consciousness and still be capitalistic with a thriving free enterprise?
The rich are not paying their fair share of the taxes. Even billionaire Warren Buffet has said that his office secretary pays more in taxes in proportion to her income than he does.
The wealthy and corporations in our country have socked away trillions of dollars (yes, trillions of dollars) overseas so that their money cannot be taxed. If our government could tax that money, at a fair and reasonable rate, we would have enough money in this country to pay for all public services without having to tax the middle class more. We could do a lot for our nation and people.
Strategic taxes on corporations alone would provide plenty of money to provide a safety net for Americans. These corporations won't go broke but can still thrive and grow. They do it in Sweden, Denmark, Norway, Germany, Canada. They can do it here in the U.S.A.!
The far right wants no controls and regulations on the economy, and that's what got us in the economic mess in 2008. Without legitimate controls and regulations in the financial markets, the greedy in our financial world were able to amass huge fortunes through dishonesty and would have totally destroyed all our lives if not for government intervention into the banking and economic system.
Corporations receive special legal status and tax benefits from the government, which private business owners do not have, and the government comes from the people (society). So, corporations do have a duty to the general society and not just to their shareholders. Government should tax corporations to help society as modern and advanced European nations do (i.e. Sweden, Norway, Germany).
People can still become wealthy in a socialist society but not at the detrimental expense of others in society. Many of the basic rights, especially regarding safety in the work place, that we take for granted were not graciously given to society by the rich but won by the blood of bludgeoned workers and strikers in the early 20th century.
Read the author's popular Internet articles: THE FAR LEFT AND RIGHT OF THINGS
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Visit the author's newest Internet site: THE SCIENCE SUPPORTING CREATION
*The author, Babu G. Ranganathan, has his bachelor’s degree with concentrations in theology and biology and has been recognized for his writings on religion and science in the 24th edition of Marquis “Who’s Who in The East.”
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