Back to Facts: Is Capitalism Evil?
Back to Facts' Tatiana Prophet, in her long career in journalism, has always sought the truth, whether she was digging into the issues favored by the Left or not. She certainly made many associations that identify with the Left just for the simple fact that journalism has long been captured by the Left.
The thing about the truth is that it doesn't line up behind any false constructs. It just is. Leftists (liars by definition) attempt to get around this by repeating ad nauseum, redefinitions of key words and concepts to help them with the grand deception they run. This confuses their target audiences, students especially, and when parents don't pay attention, you get Antifa being "teachers" at the grade school and high school level and journalists proudly pretending to do journalism because they get promoted for redefining reality, making stuff up or leaving important stuff out.
Tatiana leads with a question that begs the bigger one, What is Capitalism? Since Capitalism requires real effort and offers real rewards for vision and work, the loser and immoral Left has redefined it as something that real Capitalism ISN'T, in order to demonize it, making theirs a true strawman argument.
As the Garrison cartoon in our cover photo points out, the term "Crony Capitalism" has been coined to identify what happens when predatory non accountable types posing as Capitalists corner markets in ruthless fashion with corrupt revolving-door government policy to help them transition a true Capitalist society to a neo feudal one, which is in essence the Communist model with superficial variations. Then, everyone dies or gets very very poor and keeps their mouths shut to avoid being political prisoners. Ask anyone from Russia or Romania or Poland or Venezuela or Cuba or Vietnam or Cambodia.
Tatiana Prophet 0:00
Being in support of multinational corporations, make no mistake, that's not Republican. That's evil. How was I okay with President Trump's economic agenda? In the course of just doing all my research, I found out many things that are hidden from all of us. Some of those things we can't do anything about, at least not right now. But once I started looking into that, I started also looking into what goes on in the economy, starting with Obamacare, okay.
So I wanted to understand why small business owners, libertarians, etc., were also opposed to whatever it was called. Obamacare. That was the classic name of it. And I also noticed, because I was working for a small business, that premiums for just a family of three or self-employed were absolutely astronomical. It's like almost a thousand bucks a month, which just seems pointless, you know. This was with Obamacare.
What was happening was healthy people who were paying the penalty or the insurance were basically paying for not so healthy people to have insurance and to not be canceled due to pre existing conditions. Sadly, the final bill left the insurance companies to do whatever they wanted, which was a really bad thing. They basically are responsible for a lot of the problems in healthcare today. And then I also realized that there are a lot of people who qualify for Medicare, who are not enrolled, or they don't know about it, or it's not accessible. I also saw that while the insurance companies were losing money on the exchanges for Obamacare for the middle class, they were making a ton of money in their Medicare, Medicaid side of the business. They were raking it in. It's still the case. It's like rock solid because it's government, it's government money, it's gonna be flowing no matter what. And because of that, there's a lot of waste and a lot of unrealistic pricing.
And I thought, Well, you know, it's really strange we have all these homeless people. It's really strange we have all these sick people. It's really strange we can't get mental health care for so many people. I kind of just was observing things and thinking, Well, Republicans are always painted as not caring about the poor, being unfeeling, being hypocrites, hating "Socialism," like it's some bogeyman and worrying about Communism just around the corner. And I used to make fun of Republicans for that.
What I really realized is that Republicans are interested, for the most part, in a safety net that works. And so, sadly, what is being portrayed as not caring at all is actually, Accountability. Now, Accountability can be draconian and it can be detrimental to the economy, but if you're really a business person, you should be able to have Accountability in the spending of the federal government, as well as have something that actually works.
Then President Trump came up with the 2017 tax reform. So then I did a lot of research on tax cuts. And I realized that trickle down, it came from Will Rogers, actually, the humorist, a Hollywood movie star among other things, he used that term, and it has stuck as a way to dismiss any attempt to stimulate the economy through cutting taxes. So I delved into that deeply. And I was really surprised by what I found.
Number one: Taxes are extremely complex. Yes, there are income taxes and then there's excise taxes on energy, gasoline, heating oil. And then there's obviously sales tax. Sales tax is regressive toward the poor. Income tax is progressive, it's slanted so that the rich pay more. Corporations have a very pretty low tax rate compared to individuals as well as capital gains taxes for people who are investing in the stock market, dividends and bonds and things.
So what I did is I looked into when JFK lowered taxes. So he lowered the corporate tax. I think it was really high, the economy did recover. Now, of course, you could always say it's an up and down situation, a cyclic situation that the economy just happened to recover, and it wasn't a causal relationship. Here's the thing, though. Republicans and Democrats should be able to talk about the same things and agree on the basics of it, which is the accountability factor. As far as accounting for all the money that the government has been spending, that whole area of oversight is basically non existent. For some bizarre reason with everything being hyper politicized and neuro linguistic programming coming out of our TVs with like, Oh, trickle down doesn't work. And you know, If you bring up that you want us to be accountable for the tax money that we pay, then you're just a filthy Republican who doesn't want to spend their money. How can you be so selfish? You don't like roads? You don't like smooth roads? Well come on. Get with the program.
The problem is, taxes really don't have to be as high as they are. Take it from me, living in a state like California, we raise the gas tax almost every election cycle. And it's supposed to go to the schools, but then I was doing articles on schools and they're struggling, had no money. And then we have the lottery on top of that, to be giving us money for schools and roads. And we have some of the worst roads in the country. So you see how I kind of woke up. And to this day, I have family members, you know, you say, well, we need to really figure out where our tax money is going. And people freak out.
And that's what I don't understand, okay? If we have come to the point where when you bring something up, the other side gets this idea, and all of a sudden sees you as a stereotype and thinks, Oh, this person is ignorant. This person lives in a bubble, this person is racist. This person believes all the things that these evil Republicans believe. Now, I have never been a fan of Mitch McConnell, Mitt Romney, John McCain, Lindsey Graham; and I also really hated Ted Cruz for absolutely no reason at all.
Actually, I hated him because I heard him at APAC before the 2016 election. And he just sounded so hysterical, talking about Israel. And at that point, I really felt that Israel was committing crimes against the Palestinians. Now, have people in the West Bank and Gaza been killed? Yes, they have, but there's a whole news blackout on what Hamas does in Gaza and Beirut, and how Hamas basically never stops attacking Israel. Now you'd think we could figure this out, right? Again, it's one of those unsolvable problems, kind of like people on our streets, not having healthcare, not being helped. So, I hated Ted Cruz, because of that.
So after JFK lowered taxes, there was a market increase in tax revenues. This is because what happens whenever you have a fairly high corporate tax rate? I think Trump lowered it from 31 to 15, or something. You can correct me if I'm wrong. Before then, the big companies had moved their intellectual property and their headquarters overseas, and they kept billions, literally billions overseas, and they didn't like the fact that the taxes were higher than the rate they could get elsewhere.
For example, Ireland, the Republic of Ireland, experienced a huge boom. Facebook had its headquarters there. The main Facebook had its headquarters in Dublin. They even moved all your personal data over there. They moved their intellectual property over there. And they still owe the IRS. The IRS claims they owe them $20 million. So this all stems from them trying to avoid paying taxes and looking for tax shelters during the Obama years. This started in 2010 when they moved to Dublin.
So I wrote an article before tax reform was passed by Donald Trump. And I got a lot of flack. People I thought would be able to look at the data and see that, Hey, you know what? We're not talking about some fat cat. And you know, he throws crumbs out to us, the middle class. We are actually talking about repatriating billions and billions of dollars back into the economy that have been kept out of our Treasury. Because these corporations did not want to pay, they didn't want to pay double and they didn't want to pay as much as was being charged. That is why I was okay with Trump's economic agenda. He sure had a hell of a headwind and many, many, many things opposing him, not the least of which is his abrasive personality, women claiming things about him. Of course, you all know this, but the media, you have to say, Wow, this guy must be doing something right. Because they were out for blood, he had to be removed, and anybody who had their bias in check will be able to see that, will be able to separate out the man, the imperfections from his philosophy.
People say, Well, he's a failed businessman. He's a failed businessman. Actually, in 1991, they changed the tax code. And his hotels in Atlantic City, New Jersey, they went under. Construction came to a halt all throughout the East Coast. Everyone in commercial real estate lost their shirt. That was because people were investing in these properties. People were investing in real estate, and they just stopped investing in it because the tax structure changed.
Donald Trump actually testified before Congress in 1991. So he's actually a much more savvy businessman than people think. You can laugh all you want, but what you're doing is you're laughing behind a goalpost that has moved so far away from reality that if you are laughing, you're stereotyping people. Many, many people around this country who run businesses, who know how to create good jobs, and you say, But salaries were flat for so long. Yeah, corporate America is really, really bad, because they're multinational corporations.
So another piece that I've explained before I learned just what "FREE TRADE" does to countries like the Dominican Republic and Haiti. And there was a deliberate attempt to break the dairy farmers in the Dominican Republic by our global companies in powdered milk. That's not free trade. You may say there's no tariffs, but it is basically establishing an unfair advantage toward the multinational corporations, the faceless ones, and not toward any country exporting what they can be proud of, and what they can actually earn from.
Being in support of multinational corporations, make no mistake, that's not Republican, that's evil. I'm still a populist, I'm still liberal. Vices are up to the people, so that would be more libertarian. And I used to think libertarians were complete idiots because they didn't want their taxes to go to pay for roads. I mean, how simplistic is that? But this is what we are dealing with. In college, thank God I had that teacher that taught me about fair trade not free trade. And then that was when the whole occupy movement came up. And before that, it was the WTO. It's all connected. American companies, midsize, large private companies, things that are run that started as family businesses. Yeah, of course, some of them turned really corporate and multinational. But, there's a huge difference between the small business owners, the people who make things here, and the medium sized outfits that really deserve a break.
And another thing is, I remember listening to President Obama talk about the small businesses and how he was going to help them. And I realized, they've been talking about this every single presidents' terms. It's the same thing. I don't see any change with the tax burden on small business with the payroll tax and all of these things. And I got in a discussion with a millionaire friend of mine, and he owns a couple businesses, and I guess he's been lucky with the product he has, but he couldn't relate to my talking about payroll tax at all. He's like, What do you mean payroll tax? But you talk to, depends on the industry, a lot of other small businesses and the payroll tax is just crushing.
So anyway, this is why I was okay with Donald Trump's economic agenda. Many people did very, very well. People in my company, small business people were just generally doing well. If you look at the writings of Thomas Sowell he talks about how black entrepreneurs, how they were actually more naturally libertarians, because they wanted to be free to run their business with a minimum amount of regulations. It's really strange. It's like, even though there's no accountability for the tax money, there's a lot of regulation that really doesn't seem to make sense. And it's just so voluminous.
A lot of times when people are in power - I get the accountability issue, when it comes to behavior, education as well. We need that piece if we're going to talk about the very real truths of our history and keeping black Americans down and not fulfilling their full potential, cops harassing them, which does happen. We're going to talk about those truths. We also have to talk about personal responsibility.
There are many black business owners that are champions of personal responsibility and great examples of it. To me, no subject is taboo. We need to talk to each other. Black Americans, they were doing fantastic under Trump. And another reason for that is that there's a huge lie about illegal immigration. Okay? I wrote for an advocacy newspaper that was advocating for Latino immigrants in Atlanta, Georgia. And what I found is that the factory workers who made the denim, I don't think they do anymore, they're all in China now. But back then, when I was doing the reporting, African American and black workers working in the factories, those are the workers who got replaced.
So whoever says, They're not taking our jobs, people don't want to work in the field. Americans are lazy. That is not true. 100% of the industries, every industry is different. Construction work is considered the top of the top of jobs that immigrants can take. And it pays very, very well, actually. We've got to really zoom in on the industry to talk about economics when it comes to illegal immigration. Who benefits the most from illegal immigration? Multinational corporations. Okay? They keep their wages down. In the meantime, we have people without jobs, suffering.
So when Trump built the wall, and disincentivized crossing illegally, that caused the economy to also tighten up and wages to tighten up, because prevailing wages, what an American would work for, was now what companies had to pay. It's simple economics. I am proud to say the economic agenda was the best we've ever had. It wasn't about draconian cutbacks of largesse toward the US Postal Service union or things like that. No, it was about accountability.
So, thanks for watching and I hope to see you guys soon.
Tatiana Prophet breaks down another mockie media faceplant. Yawn, we must be reaching the end of this clownshow, eh wot?
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