Fact Sheet: Capitalism and Freedom

Dinner Topics for Monday

Fact Sheet: Capitalism and Freedom

Month-Defining Moment

economic-freedom-low-scoreSee Heritage Foundation Economic Rankings of countries of the world, freedom ratios

http://www.heritage.org/index/ranking

 

 

 

 

 

 

 

5 Liberal Lies about American Capitalism

Rush Limbaugh

(Limbaugh Letter, August 2015, p. 11)

SM_stossel_capitalism_works-800x600Lie #1: Capitalism doesn’t work.

Fact:

Capitalism is the only economic system in history that creates wealth for the entire society. After 1776, the U.S. led the world in prosperity.

Lie #2: American capitalism hurts America’s poor.

Fact:

Thanks to capitalism, America’s poor are wealthier than 70 percent of the world. A typical poor America household has a car, air conditioning, two wide-screen TVs, cable or satellite TV, computer, cell phones, Xbox, washer, dryer, all kitchen appliances including microwave and coffee maker, and more living space than the average European.

Bottom 5% in U.S. have higher income than top 5% in India.

 

capitalismLie #3: American capitalism hurts the world’s poor.

Fact:

American free enterprise is lifting the world out of poverty.

Lie #4: Under capitalism, the rich get richer and the poor get poorer.

Fact:

In countries with the most economic freedom—capitalism—everyone is richer.

free-enterprise-capitalismLie #5: American capitalism runs on greed.

Fact:

Americans donate more out of their own resources to charity than do any other people on earth.

Americans donate more than 10% of GDP. Other nations reach a mere 6% or less.

 

Why are Republicans offering no opposition to the liberal agenda? They are bought.

Corporate Welfare—Republicans guilty of it, too

Power corrupts. Absolute power corrupts absolutely. ~Edmund Burke

It has to be money.  The Treasury is there. It’s the easiest access. Whether it’s K Street, the lobbyists, everybody’s going for the money.  We now have we call it crony corporatism or crony socialism.  It’s just cronyism, period.  Like we discussed with Ted Cruz. What in the world is Boeing…? The Export-Import Bank is a classic example. It’s a New Deal thing. It needs to go the way of the Edsel. All it is, is corporate welfare.  Let me try this on you.

The term “corporate welfare,” I first heard that when liberals used it speaking of it with hatred and derision.  Now guess what?  Corporate welfare is something in a Republicans, conservatives are railing against because they find their own elected officials engaging in it.  Corporate welfare used to be just a standard rant from the left against capitalism.  Corporate welfare was one of the ways they attempted to denigrate capitalism.

Capitalism is NOT Corporate Welfare and Cronyism

Cronyism and this kind of thing is not part of capitalism.  This is big governmentitis.  It’s just been decided that Big Business CEOs have found an easier route to money by getting in bed with powerful Washington government people rather than competing in the open market.  It isn’t capitalism doing this.  There is no “unfettered” or any other kind of capitalism going on here, when you talk about cronyism.

When you have take your pick of any big corporation getting in bed with Obama, be it the insurance business and Obamacare, be it Big Pharmaceutical and Obamacare, be it the doctors or nurses associaciated with Obamacare, we all can see what’s happens here is, people are being bought.  They’re being promised exemptions from the hardest, most punishing aspects of the legislation if they’ll support it. This kind of cronyism…

redistsocialismillustratedAs Cruz pointed, Boeing have already been granted all kinds of concessions with labor strain and so forth, being allowed to open factories in South Carolina, nonunion states. What do they need with…? Why is a corporation guaranteed loans.  Well, when you realize there’s an old adage — use everybody’s money but your own whenever you can — then it all makes sense.  The biggest collection of money in the country is not the Koch brothers, and it’s not Warren Buffett. It’s not Bill Gates.

It’s the United States Treasury.

That’s the biggest pile of money in the country, and if you can have a direct line to that by an association with the president or other powerful members of Congress, why not take it?  And if anybody establishes that the door is open and under which deals and arrangements can be made as Obama has done with GE and Solyndra and any of these other industries he got in bed with, well, once the door is open, you can expect all kinds of people try to walk through it, too.

Remember the example I gave not long ago: Walmart.

Everybody thinks Walmart’s a big, conservative, Arkansas major corporation. A major business that doesn’t want the government involved in their business.  Walmart all of a sudden out of the blue one day started supporting A, Obamacare, and, B, an increase in the minimum wage.  I said, “Now, wait a minute, now. In terms of policy, this doesn’t make any sense. In the old days, no corporation worth its salt would agree with any government that wanted to force Obamacare on it and require its minimum wage to go up.”

But what Walmart decided was they’ve got the money to do both; their competitors don’t.  So getting in bed with government. Supporting the minimum wage might put your competitors out of business, ’cause they can’t afford it.  If you can put your competitors out of business with an alliance of government instead of having to outcompete them in the market, what are you gonna do?  If you can raise your stock price by getting in bed with government rather than competing in the open market, what are you gonna do?

Well, that’s what’s happening.

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