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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mike Johnston who wrote (72691)	10/23/2006 6:15:24 PM
From: Perspective	Read Replies (2) \| Respond to of 110194

Yes, we are SO far from the ideals of capitalism. In my younger years, I was a devout free-marketer. I believed in the capitalist system almost without exception. At its foundation, a system in which you are rewarded in proportion to your efforts harnesses the most powerful forces of human behavior - self-interest. However, our system has degenerated so far away from that ideal that it is sickening. I've since learned that excessive wealth has advantages that distort this proportional reward system beyond recognition. Unfortunately, the only remedy that I've seen is governmental regulation to prevent tyranny by the wealthy. A sharp increase in estate taxes would be a decent start, as well as a return to a progressive taxation system. But as long as everyone thinks they might be the next billionaire, the public is buying the conservative rhetoric hook, line, and sinker. We need to return to a true capitalist system, a system in which you are rewarded in proportion to your productive output. BC