Re: RE: Organize for Revolution in Canada!
cap•i•tal•ism
n.
An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market.
You start up a business and the government takes 40% of your business profits, and then taxes the income from the cheque you take from that business at 35%-45%, plus makes your business pay twice into unemployment insurance for your employees what each employee pays into it. Taxes your employees at 25-35%, makes you then pay workman’s compensation. There are property taxes and gas taxes etc. The government considers free coffee at work to be a taxable benefit.
If you do end up with any money left over and you want to invest that money, the government calls that capital gains, and taxes it at 30%.
I don’t think that is capitalism.
socialism
n 1: a political theory advocating state ownership of industry
2: an economic system based on state ownership of capital
so•cial•ism n.
1. Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
2. The stage in Marxist-Leninist theory intermediate between capitalism and communism, in which collective ownership of the economy under the dictatorship of the proletariat has not yet been successfully achieved.
Rick van Opbergen said:
cap•i•tal•ism
n.
An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market.
You start up a business and the government takes 40% of your business profits, and then taxes the income from the cheque you take from that business at 35%-45%, plus makes your business pay twice into unemployment insurance for your employees what each employee pays into it. Taxes your employees at 25-35%, makes you then pay workman’s compensation. There are property taxes and gas taxes etc. The government considers free coffee at work to be a taxable benefit.
If you do end up with any money left over and you want to invest that money, the government calls that capital gains, and taxes it at 30%.
I don’t think that is capitalism.
socialism
n 1: a political theory advocating state ownership of industry
2: an economic system based on state ownership of capital
so•cial•ism n.
1. Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
2. The stage in Marxist-Leninist theory intermediate between capitalism and communism, in which collective ownership of the economy under the dictatorship of the proletariat has not yet been successfully achieved.