This pretty much describes General Motors’ receipt of $600 million in federal contracts, plus $500 million in tax breaks, since Trump took office. Other industries don’t get these benefits. Such households should be classified as poor. The result of accumulated policy errors has been a gradual but continuous secular decline and rising inequality. It’s been estimated that repealing these special tax breaks would save taxpayers $39 billion over 10 years. … then let us make a small request. http://www.theguardian.com/politics/2015/jul/07/corporate-welfare-a-93bn-handshake, http://speri.dept.shef.ac.uk/wp-content/uploads/2015/07/SPERI-Paper-24-The-British-Corporate-Welfare-State.pdf, MMT, Helicopter Money and Monetary Socialism, Capitalism, Wealth Inequality and Systemic Plunder, Australian Pension Reform Jumps the Shark, Jumps the Gun. On Pew Research definition, the upper class increased by 9 percent over the 44 years creating a misleading, but positive, impression that the middle class has been migrating to the upper class. Since 2008 when the birth rate and the death rate crossed over at around 9.5 percent, the death rate has exceeded the birth rate, resulting in a net closure of 70,000 businesses as the dynamo of capitalism continued to falter. Up until the late 1980s, employer supplements rose steadily from 4 percent of GDP to about 10 percent, adversely affecting corporate profits by about 5 percent. But the creators of EMH are quick to point out that they do not mean “economic efficiency”, but only “informational efficiency” – an unscientific idea which cannot be clearly defined or proved. And this is just an example of corporate socialism for farmers. A hollowing of America with a shrinking middle class which pays most of the taxes, has led to faltering entrepreneurial capitalism. That is an income range of about $42,000 to $126,000 annually in 2014 dollars for a household of three. Here’s the bottom-line: When corporations get special handouts from the government, it costs the rest of us. Corporate socialism? Contemporary examples of socialism include Venezuela, Cuba, and China. But this statistic understates the migration to the lower class. Take advantage of our limited time offer. In performing this task in this paper, economics has taken one of the rare first steps towards a true social science. But less well understood is how corporate socialism has been operating less blatantly by the government over the decades, not just recently. The death rate of businesses has fluctuated between 8 and 10 percent over the same period. Trump and his appointees at the Federal Reserve are easing bank requirements put in place after the bailout. Click to donate by check. Even though this definition of the American poor is rich by world standards, where median household income is less than $10,000, it merely reflects the fact that most of the world lives in abject poverty – there is a serious global economic challenge. This pack includes Lloyd Blankfein, former lawbreaking chairman of Goldman Sachs. Essentially, fiat money has allowed bad government policies to be pursued without discipline or accountability for much longer than otherwise. We must end corporate welfare. The tax cuts there, that’s government run socialism to attract new businesses and then of course we also can’t forget the socialism. In this chart, the passage of time moves generally from right to left as US wages and salaries fell continually from 52 percent of GDP to 42 percent over the data period. This welfare policy has been the consequence of allowing the suppression of wages and salaries in the labour market. Socialism: The government owns most of the major industries. Manufacturing such as the auto-industry often involves large numbers of small businesses making parts, while financial services rely mainly on technology and scale to extract profits from transactions – these days increasingly done automatically by computers with high frequency trading algorithms. How do corporations get this corporate welfare? He probably meant that Goldman Sachs traders are part of the “invisible hand” making the financial markets efficient, taught as the “efficient market hypothesis” (EMH) in university. Like you, we here at Raw Story believe in the power of progressive journalism. To compensate farmers for their sales losses to China, Trump and Republicans passed a $16 billion in aid for farmers that covered some 40,000 farms and businesses nationwide. … then let us make a small request. A review of this laundry list of proposals, however, makes it clear we are dealing with a new type of socialism. 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