There's more support for capitalism in China than in the U.S. -- seriously
There's more support for capitalism in China than in the U.S. -- seriously
Maybe it's true what they say, that the more you know... Because right now there's more excitement over capitalism in, um, Communist (not really) China than here in the unhindered free-market capital of the world, the U.S. of A.
But a new global opinion poll shows another, perhaps more serious form of damage: falling public support for capitalism. This is most marked in the country that used to epitomise free enterprise. In 2002, 80% of Americans agreed that the world’s best bet was the free-market system. By 2010 that support had fallen to 59%, only a little above the 54% average for the 25 countries polled. Nominally Communist China is now one of the world’s strongest supporters of capitalism, at 68%, up from 66% in 2002. Brazil scores 68% too. Germany squeaks into top place with 69%.
Who's driving this? Largely poor people, who've seen the wealthiest Americans get break after break, and who realize that they're getting...what's the politically correct term? OK, there isn't one -- they're getting screwed. And they're finally sick and tired of it.
Capitalism’s waning fortunes are starkly visible among Americans earning below $20,000. Their support for the free market has dropped from 76% to 44% in just one year. The research was conducted by GlobeScan, a polling firm. Its chairman Doug Miller says American business is “close to losing its social contract” with average families.
Close? CLOSE? When you've seen the gap between the rich and the poor in this country explose since the time of Ronaldus Magnus, and watch massive corporations like General Electric get away with paying zero income taxes, and now the new plan out of Washington is to slash health care for anyone who can't afford it and "reduce the deficit" with yet another round of taz cuts for the filthy rich, we're not close.
We're there! The social contract has been shattered in this country.
This thing is, these new poll numbers -- shocking as they are -- are not what a Glenn Beck would have you believe, "The Coming Insurrection." Only a tiny handful of Americans -- even in the abused social classes -- support moving toward communism or even socialism. They just want capitalism that's fair, where the rich and the corporate oligarchs are constantly rigging the rules against the little guy.
And I think it's mainly frustration -- over the fact that no one in power is listening. I think the crisis of confidence in free markets is partly because -- well, remember what those free markets did in the fall of 2008? -- but also because many voters, especially in the lower income group cited above, voted in 2006 and 2008 for Democratic congressional candidates and for Barack Obama because they expected a real effort to redress some of the unfairness in our society. That has not happened. Obama and the Democrats voted to extend the Bush tax cuts for the rich, meekly accepted budget cuts that may fall heavily upon the poor, and now people are terrified at what's coming down the pike in hacking apart Medicare, Medicaid and the rest of the safety net.
I don't think the American crisis of confidence in free markets is nearly as serious as the crisis of confidence in democracy.
Well, Will, they do have a better stock market. Besides I liked their approach to the banking meltdown better. Just kill a couple CEOS, hang 'em on the big board and everybody else suddenly falls in line. Beats handing out nearly $1 trillion and NOT changing the law so the same thing will happen again in a generation - or less.— DJR
The way that free-market capitalism is being interpreted in this country encourages me along with the poor to wish for a different system. If capitalism means that regulations are all bad and robber-barons should keep their ill-got gains, then I don't like it. I am becoming a Teddy Roosevelt Republican if there is such a thing still after a lifetime of supporting mostly Democrats and the occasional local Republican.- ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ— Keep The Change
- the wealthy could stand to pay a few more points in taxes. But why do studies show that people who make 15 to 25k/year watch 60% more television than people who make over 100k.
The safety net today is multiple times larger than 20 years ago....the lower end of the middle class have been hurt significantly by the policies of bush and obama. Once they get a job, they will be more supportive of the free market. It is simply more Bunch socialist Claptrap!! Do you EVER use Spellcheck,BTW?..... Pitiful.— kevindoc33 - explose?
taz cuts?
— Talking point sleuth - ===]]] Once they get a job, they will be more supportive of the free market [[[===
What does that even mean? Who are "they?" The working poor who already have a job? Elderly people who rely on the Medicare that Republicans want to cut? Kids on welfare?— Talking point sleuth 
Comment removed.- Will, they voted to extend the tax cuts for the rich because otherwise taxes would have risen significantly for those in the lowest end of the income spectrum. Given the economy and unemployment rates, that would have been unacceptable.
In the meantime, carping like yours will undermine Obama's ability to work against the tax cuts the next time they're set to expire (assuming that Obama wants to try to fight that). Your unrealistic concept about things would have been better if Obama had just negotiated more strongly don't reflect the reality of the situation.— Talking point sleuth - So if I have small business with 2 part-time emplyees and I make $40K... then I should pay a corporate tax first and then pay a tax on my earnings after the corporate taxes are paid?
The poor people are kept poor because of the taxes and regulation brought about by all the social programs the poor vote for when they vote Democrat combined with special rules gives to large corps by the country club Republicans. You need an even playing field and one set of rules to have true capitalism.— RussOCNJ - Russ Don't do your own taxes. Get professional help. — landscape
- Err.... if the company has paid salary to you, that salary becomes an "expense" to the company, and therefore not subject to taxes.
I agree with the earlier poster - sounds like you DEFINITELY need an accountant.— Americanadian - Comment removed.
- In 2010, polls taken at the voting booth showed American disdain for socialism, and the policies and massive debt it gives birth to.— jmc
- Will, you talk about cutting Medicare if it were a negative. Isn't Obamacare supposed to cut 500 billion from Medicare? I'm sure all that wasn't just a bunch of BS to get the bill by the CBO, was it?— jmc
- unhindered free market? you must be confused because that's certainly no the US I live in, for better or worse. that is, unless you consider massive deficit spending to finance the military industrial complex, banking interests, and big farm welfare to be free market policies...or regulatory burdens designed to prevent competition in industries such as beer and food production, etc, etc. it would be interesting if you matched this poll against one that asked people if they felt their country was on the rise of decline.— dreinterests
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