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Thursday, May 17, 2012
Here's where Arthur Brooks and I agree when it comes to Occupy Wall Street. We agree that Corporate America has too much influence on government and that they can use that influence for their benefit and their stockholders benefit. At the expense of everyone else including their employees, for example without their employees. These companies aren't in business, why in case its not obvious enough, because there wouldn't be anyone to do the work. You might still have Management to lay out the policies and what needs to get done but without employees, you have no one to do the work. And they can set policies so where even though their employees are doing a good job and being productive, they can't afford to purchase the products they produce. Because Management and the stockholders are collecting most of the benefits and then thanks to their connections with government. They can write off a lot of the expenses that it takes to run their company, even though they are pocketing most of their companies profits and are running profitable companies.
I also agree with Arthur Brooks that even though OWS is right in what they are protesting against. That they are wrong in what they would want to do instead, to use as an example, allowing all of the Bush Tax Cuts to expire, including for the Middle Class. And seeing a Middle Class Tax Hike when they can least afford it and when they are wondering if they are about to lose their job. And how they are going to make their next Mortgage Payment, how are they going to put Joe or Marry through college etc. OWS seems to believe that American Capitalism doesn't work and that we have too much Private Enterprise and that we need the Federal Government. To take a much larger role in providing Public Services that they don't trust the Private Sector or the people to provide for themselves, funded through new taxes.
Arthur Brooks and a majority of the country agrees with OWS and what they are against, which is Crony Capitalism, which isn't Capitalism. But we tend to disagree with OWS in what they would do instead, what would be their alternative to Crony Capitalism. Americans tend to like American Capitalism, its Crony Capitalism that we don't like.