Wednesday, June 3, 2009

Going Galt

I recently wrote "capitalists are talking about bringing all-out war against the laborers." Let me continue this discourse.

While some conservatives (and myself) cite Frederic Bastiat saying, "everyone seeking to live at the expense of everyone else" to invoke a response against government intervention in these hard economic times, they are turning more and more towards Ayn Rand's Atlas Shrugged, espousing an objectivist ideology of selfishness and self-interest at the expense of everyone else.

The talking heads on the radio and television, including Glen Beck, Rush Limbaugh and other nonsensical figureheads, have been talking about "going Galt." Saying, "Atlas will shrug."

This is a threat. But this is only the outrageous idea of "a day without a CEO."

I said the capitalist class is talking about taking class warfare up a notch. It starts with trying to put salary caps on factory workers while fighting diligently against salary caps against investment bankers. But there's more.

They talk like "the market" has a mind of it's own and it thinks and feels. It was falling because of Obama's budget (not because it has been falling since 2007, that's silly). So they're talking about holding Washington hostage.

It's called extortion. The capitalist classes are intimidating lawmakers through threats of taking their capital elsewhere if they don't get their way. They don't like expanding medical care, so they want to punish everyone through withholding capital from the markets.

Of course when you say something like this, the talking heads say you're one of Rand's moochers who hold claim to their capital. This is ridiculous because the capital these bankers hold was loaned from the proletariat and bourgeois so that they could reinvest it and turn a profit. Instead, the capitalists took the money and ran.

The financial markets were seeing 40% growth for the last few years. Banks should not grow faster than the rest of the market. Not by principle but for mathematical reasons. They speculated this money to make themselves rich while destroying the wealth of everyone else.

That's class warfare!

And now they're talking about "going Galt" and reducing their own tax liability to hurt the government's revenue. The only way to do that is to withhold investing their capital, or by placing it into overseas markets. This is ridiculous because reducing their liability by $50,000 only reduces taxed paid by only about $2,300.

I have more to write on this topic, but it will have to wait.

No comments: