{"id":1504,"date":"2019-07-03T15:21:27","date_gmt":"2019-07-03T22:21:27","guid":{"rendered":"http:\/\/familyenterpriseusa.com\/feusa\/the-war-on-capitalism-the-whole-story-2\/"},"modified":"2019-07-03T15:21:27","modified_gmt":"2019-07-03T22:21:27","slug":"the-war-on-capitalism-the-whole-story-2","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/estate-taxes\/the-war-on-capitalism-the-whole-story-2\/","title":{"rendered":"The War on Capitalism \u2013 The Whole Story."},"content":{"rendered":"
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While I can\u2019t say I\u2019m pleased with what we learned, I am encouraged that there is a roadmap forward.\u00a0<\/p>\n

Capitalism isn\u2019t dead, but it is certainly damaged<\/em> thanks to decades of political attack and corporate abuse.\u00a0 But there\u2019s hope:\u00a0<\/p>\n

The word \u201ccapitalism\u201d has fallen out of favor with a majority of the public. There are much stronger words and phrases to illustrate a positive contrast with socialism.<\/p>\n

Most importantly, the word \u2018freedom<\/strong>\u2019 is by far the best way to frame the capitalistic economic system. \u00a0Freedom<\/strong> communicates personal choice and control as well as societal opportunity \u2013 so it has a personal and a universal meaning.\u00a0 Moreover, it drives up the negatives associated with the political and the uglier economic aspects of socialism.\u00a0 There is zero doubt about this conclusion \u2013 it should be adopted immediately.\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Today, just 31%<\/strong> of Americans self-identify themselves as capitalists \u2013 a shocking rejection of the economic system that has helped so many people for so long. This stems from the perception of growing wealth inequality and the sense that the rich have rigged the political and economic systems to their benefit. \u00a0The electoral ramifications of this trend are significant: more Democrats now prefer a socialist country to a capitalist one!<\/em><\/p>\n

Socialism is seen as better than capitalism in helping the poor and struggling working class, first generation immigrants, and people entering the workforce for the first time.\u00a0 This perception has been driven by the Sanders presidential campaign in 2016, but it\u2019s really not new.\u00a0 For decades, capitalism was for the rich and the middle class.\u00a0<\/p>\n

It\u2019s only in recent years that Socialism has emerged as a credible alternative. This is a terrifying thought for our country as it\u2019s a proven slippery slope of ineffectiveness as a platform for effective governance.<\/p>\n

The linguistic answer to the weaknesses of capitalism: \u201ceconomic freedom.\u201d\u00a0 First, it\u2019s preferred over capitalism by 2 to 1 \u2013 a significant margin.\u00a0<\/p>\n

The other terms, like \u201cfree enterprise\u201d or \u201cfree market,\u201d are simply not as strong or credible.\u00a0 Interestingly here is the fact that with socialism these tend to be a popular \u201cidea\u201d among those who espouse ideals of socialism.<\/p>\n

Capitalism<\/strong> ranks among the lowest responses when asked what America stands for \u2013 a sad indication of what\u2019s happening in our high schools and universities.<\/strong><\/em>\u00a0<\/p>\n

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\nThe fact is, fewer and fewer people link capitalism to what makes America exceptional, and this is not going to change until our education system changes.\n<\/p>\n<\/blockquote>\n

The argument that Venezuela\/Cuba represents socialism in action lacks credibility among a majority of voters.\u00a0 Many more Americans identify socialism with the Scandinavia welfare states.\u00a0 I don\u2019t expect this to change during the 2020 election cycle.<\/p>\n

As the economy is humming along, Americans are optimistic about the economic future of the country, but the struggles of the middle class are omnipresent \u2013 and supporters of capitalism are vulnerable. \u00a0<\/p>\n

Political leanings determine economic perceptions,<\/strong> not the other way around.\u00a0 People who voted for Hillary Clinton are overwhelmingly negative about the near-term future of the job market, while Trump voters are evenly split.\u00a0<\/p>\n

But both partisan groups think the challenge of entering the middle class is harder than ever.\u00a0 This is important: as long as people think the current economic system holds people back rather than propelling them forward, capitalism will remain under attack. \u00a0\u00a0<\/p>\n

Healthcare is still the driving issue of the day. It polls higher than any other priority for America\u2019s future, while socialist priorities such as the Green New Deal and a universal basic income are among the lowest rung of priorities.\u00a0 The public currently likes the higher taxes on the rich that inevitably go with socialism, but not all the other stuff. \u00a0<\/p>\n

There is significant support for paying all working people a \u2018living wage\u2019 regardless of whether they work or not, and it will be easy for the Democrats to conflate this with the minimum wage to garner additional support. \u00a0Big government spending proposals like tuition-free college and universal healthcare now have majority support \u2013 even as the same Americans say they prefer lower taxes, less government spending and less government.\u00a0<\/p>\n

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\nThe Left has realized that if they are specific in who benefits\u2026and make sure that only the rich pay \u2026 they win.\u00a0\u00a0\n<\/p>\n<\/blockquote>\n

Profit itself is becoming a problem, with majorities of both Trump and Clinton voters now agree that some companies\u2019 profits are simply not justifiable. And for the first time, the public is ready to put limits on corporate executive pay.\u00a0 The anti-corporate sentiment that first arose in the early 2000s has reached the point where pay and profit cap legislation might generate majority support. \u00a0That\u2019s a first in America.\u00a0<\/strong><\/span><\/p>\n

Taxing the rich has broad bipartisan appeal.\u00a0 Yes, even Republicans support it<\/strong>.\u00a0 The only hope: the public doesn\u2019t dislike or begrudge the rich for their success.\u00a0 It\u2019s the flawed system they have come to hate.\u00a0 The source of the problem: wealth inequality.\u00a0<\/p>\n

Across partisan lines, there is a deep and growing anger that the wealthy are gaming the system.\u00a0 The \u201clawyers, lobbyists and loopholes\u201d messaging that we have used to attack the Left is now being turned on the right.\u00a0 There is even growing support for the AOC proposal to raise the top marginal tax rate for the top 1% to 70%<\/strong>, as well as the 2% wealth tax<\/strong> among people who have $10 million or more proposed by Elizabeth Warren.\u00a0 Expect even more anti-wealthy tax proposals in the coming months as the Democratic primary lurches even further left.\u00a0 \u00a0<\/p>\n

Despite this grim picture, the average American still thinks the rich are \u201chard-working,\u201d \u201cintelligent,\u201d and \u201ccreative.\u201d\u00a0 It\u2019s \u201cthe system\u201d that is being condemned \u2013 the system that President Trump railed against and now represents.\u00a0 For Republicans, it\u2019s the governmental system they hate. For Democrats, it\u2019s Wall Street.\u00a0\u00a0\u00a0<\/p>\n

No one has details or specifics for what they dislike.\u00a0 It\u2019s all generalities, suggesting that the right messaging could potentially move people.\u00a0 The hostility is strong, but it is not fully baked \u2026 yet.<\/p>\n

\u201cTools\u201d are how people describe the political, legal and economic advantages available to the wealthy.<\/strong><\/span> \u00a0Therefore, must prove that hard-work and good ideas are more powerful than these so-called tools.\u00a0 We have to prove that they system still works.\u00a0 That also means we need more role models for people to follow.<\/p>\n

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\nPeople have no idea what defines the actual the 1%\n<\/p>\n<\/blockquote>\n

\u2014 either in income or wealth.\u00a0 And when they find out, there is less support for raising taxes on them.\u00a0<\/p>\n

When asked about what the minimum income is to be considered a member of the 1% of highest income earning Americans, the responses were completely off base, with half of all Americans believing it to be incomes over $1,000,000.<\/p>\n

A majority of Americans don\u2019t want to raise taxes on the 1% of earners after discovering that to be in this income bracket, they make $424,000\/yr.\u00a0 But because they don\u2019t know the facts, they fall for the proposals.\u00a0<\/p>\n

You are going to need a serious, significant education campaign \u2026 now.<\/strong><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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The post The War on Capitalism \u2013 The Whole Story.<\/a> appeared first on Policy and Taxation Group<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

While I can\u2019t say I\u2019m pleased with what we learned, I am encouraged that there is a roadmap forward.\u00a0 Capitalism isn\u2019t dead, but it is certainly damaged thanks to decades of political attack and corporate abuse.\u00a0 But there\u2019s hope:\u00a0 The word \u201ccapitalism\u201d has fallen out of favor with a majority of the public. There are […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[43],"tags":[50,11,5],"class_list":["post-1504","post","type-post","status-publish","format-standard","hentry","category-estate-taxes","tag-death-tax","tag-estate-tax","tag-family-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/1504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1504"}],"version-history":[{"count":0,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/1504\/revisions"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}