Why Millennials Hate Capitalism
Socialism or capitalism Capitalism or socialism, which economic system would you prefer? Michelle Goldberg wrote an article based on why Millennials Hate Capitalism the name of the article is “No Wonder Millennials Hate Capitalism.” In the article Goldberg claims, that tax bill passed by the Senate is another capitalist failure which would make the rich richer and the poor poorer. Actually, capitalism allows you to choose your own fate, and write your own script without the government determining who wins and who loses. While socialism seems to always fails over and over. While it promises equality and security, all it brings is tyranny and poverty. Altho early on it may seem beneficial, in the long run it is only a formula for disaster. …show more content…
also, a tax break for businesses is necessary for the free market to boom again, which would over time be very beneficial to our economy. And tax breaks for the middle class would give them the opportunity to save or spend their money any way they see fit. Both tax cuts and a tax reform would be very beneficial to a majority of Americans right now.
Capitalism, and the free market, what does this mean, and how does this affect me? The free market is an economic system where prices are determined by unrestricted competition between privately owned businesses. Put simply it means private businesses make their own choices on behalf of their own motives. Which can be both beneficial and negative depending on the situation. A Lot of business competition can lead to higher wages, cheaper goods, more quality goods. While a lack of competition in the free market can be taken advantages of, to drive the price of goods up, and produce a lack of quality. many attacks on capitalism alike the Senate tax reform bill are illegitimate like, “it cuts deductions for state and local taxes, which could make it harder to fund the public schools where the vast majority of millennials will send their kids”. First Cutting deductions for state and local taxes do not directly
…show more content…
a product of our capitalist government, being the most recent tax bill. the author’s argument against the tax bill is very limited and offers very poor and biased evidence. the fact that the author only includes one negative example of capitalism, and fails to effectively capitulate on the tax bill due to questionable evidence and sketchy analysis and interpretation of the “evidence”. The author, Michelle Goldberg uses common talking points used by many politicians that are repeated too often, pushing a socialist agenda that the evil capitalists and the big wealthy corporations are out to get the poor. which is far from factual.
Works Cited
Goldberg, Michelle . “No Wonder Millennials Hate Capitalism by MICHELLE GOLDBERG.” NYC DEL NETWORK, 6 Dec. 2017, nycdel.net/2017/12/06/no-wonder-millennials-hate-capitalism-by-michelle-goldberg/
Kaplan, Thomas, and Alan Rappeport. “Republican Tax Bill Passes Senate in 51-48 Vote.”The New York Times, The New York Times, 19 Dec. 2017, www.nytimes.com/2017/12/19/us/politics/tax-bill-vote-congress.html.
In the early hours of Saturday morning. “Here 's What 's in the Senate Tax Bill.” CNNMoney, Cable News Network, money.cnn.com/2017/12/02/pf/taxes/senate-tax-bill-passed/index.html
Sarlin, Benjy. “House Passes Sweeping GOP Tax Bill, Senate to Follow.” NBCNews.com, NBCUniversal News Group, 19 Dec. 2017,
A Rhetorical Analysis Of Contributor To Forbes By Tony Nitti
261 Words | 2 PagesContributor to Forbes, Tony Nitti identifies which classes and types of people will benefit from the recently passed tax bill. At the time the article was written, the bill had not yet been signed into effect by the president. According to Nitti, “Tonight's victory belonged solely to the Republicans. The Senate passed the bill without a single "yes" vote from one of its 48 Democrats, but then, this was the plan all along.” He also pegs the winners as corporations, the richest one percent, and the middle class- “for now.”
How Did Ronald Reagan's Economic Policies Affect The Economy
799 Words | 4 PagesRonald Reagan’s election cost a profound $57.7 million dollars (Cox, 2012), and would not have been possible without his wealthy backers. Reagan owed a lot of favours to the wealthy elite who funded his campaign, and lowering income tax for the rich was the result. In reality “trickle down” did not occur. Reagan cut the overall income tax throughout America by an average of 23%, however the income tax for the wealthiest America was cut from 70% to 28% (Sahadi, 2010). It is estimated that the top 1% of Americans gained $10 trillion from Reagan’s tax cuts, at the expense of the bottom 99% (JMH, 2011).
Compare And Contrast The Economy And The Gilded Age
968 Words | 4 PagesWealthy people today bribe politicians in order to reduce their taxes and this is referenced in a quote by Warren Buffett, “These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us.” Buffett claims that an investor that earn billions per day can get a bargain of fifteen percent of tax interest, which is much less than the thirty three to forty one percent interest for the middle class. Similarly, some of the Gilded Age’s policies benefit the wealthy. For instance, because of the exploitation,workers united and striked against the cruelty. However, employers appealed for court orders against unions because the federal government denied unions recognition as legally protected organization.
Collinson And Reston Rhetorical Analysis
732 Words | 3 PagesJohn Boehner’s Resignation and the Republican Presidential Race On September 25th, Speaker of the House John Boehner announced to congress that he planned to resign within the next few weeks. Following this news, the Republican Party has had constant debate over Boehner’s departure and also over the fate of the party as a whole. In the article by Collinson and Reston, the two authors claim that the Republican Party is becoming increasingly divided causing traditional republicans like Boehner and Jeb Bush to be seen outcasts.
Pros And Cons Of The Disclosure Act Of 2010
1035 Words | 5 PagesThe Disclose Act of 2010, was one of the most polarizing pieces of legislation to be debated during the 111th Congress controlled by Democrats. Regardless of its polarizing nature, the act was able to pass the House, where it then was halted in the Senate due to the filibuster. The failure to pass S.3628 the Disclosure Act of 2010 in the Senate displays how much polarization can inhibit Congress, as well as the severity of the institutional frameworks that protect minority parties in the Senate. The Disclose Act of 2010 were pieces of legislation introduced by Democrats into both the House and Senate after the decision of Citizens United v. Federal Election Commission 558 U.S. 310, which ruled that “under the First Amendment corporate funding
2001 Bush Tax Cuts Summary
1162 Words | 5 PagesLarry Bartels, Paul Pierson and Jacob Hacker seek to explain why the general public seemingly favored the 2001 Bush Tax Cuts, a policy that disproportionately favored the wealthy elite and reduced funding for social programs while increasing the national debt, even though the tax cuts were in direct conflict with the economic self-interest and policy preferences of most voters, such as: government programs and deficit reduction. Bartel’s primary argument centers on pervasive misinformation and/or ignorance of the electorate surrounding the 2001 Bush Tax Cuts. Hacker and Pierson cite elite manipulation as the primary reason for the public’s perceived “support” of these cuts; altogether, both seem to agree that rampant misinformation or the absence
Monopolies During The Gilded Age
1768 Words | 8 PagesWe live in a world where the money we make is taxed to help the community, despite the fact that some people in the community don't deserve benefits because they don't work for it. This idea of spreading the wealth has been in the America for hundreds of years. The Gilded age was a era of American history where the capitalist market flourished. During this period revelations about Capitalism formed. Two great minds came to totally different conclusions about Capitalism.
Gilded Age Capitalism Analysis
487 Words | 2 PagesIn the more developed regions of the world such as the United States, the United Nations and some of the Asian Countries, the form of economy there is Capitalism. Capitalism allows business owners to expand as much as they like since businesses are privately owned and the government have little to no influence on them. To the rich, capitalism is great, it allows them to be as rich as they want, but to the poor, capitalism only makes them poorer, it creates a disparity in social class system, and the varying changes in employment rate as a result of monopolization. Capitalism, due to monopolization makes the poor stay poor. To elaborate: a monopoly is when a person or a group owns the majority of the supply for the public.
Income Inequality In America
968 Words | 4 PagesOne of the arguments used is that we could regulate and tax the 1% income because that would be “fair” but these numbers show how harmful that way of thinking is. 18% of taxes for the “bottom” of the bracket which is around 20% of the U.S population.
Essay On Flat Tax
1766 Words | 8 PagesThey believe taxes are first and foremost a means of redistributing income, and therefore strenuously oppose any system that lowers tax rates at upper income levels.”
Comparison Of Republicans And Democrats
429 Words | 2 PagesComparison of Republicans and Democrats Daniela C. As we all know people have different minds. Democrats believe to be equal and fair for all. In the other hand republicans believe that they should be more independant and have the governor not have take so much role in their lives. To begin with republicans and democrats have many things that are different.
Socialism Vs Capitalism Essay
732 Words | 3 PagesInstead of capitalists or private sectors owning the factories of production, the government owns them. This in turn results in the government collecting the profit instead of just businesses taxes. Pros and Cons Proponents of both systems have continually argued which economic system is better. Both have their advantages and disadvantages. Capitalism makes sure that an economy will produce the best products and that these are priced reasonably.
Progressive Income Tax In The United States
325 Words | 2 Pages“... We must make it clear beyond peradventure that our aim is to distribute the burden of supporting the Government more equitable than the present; that we intent to treat rich man and poor man on the basis of absolute equality, and that we regard it as equally fatal to true democracy to do or permit injustice to the one as to do or permit injustice to the other.” The progressive tax does not ensure the fairness to the higher class by increasing their taxes, just because they earn more money. It makes it harder for the higher class to keep the money that they have earned rightfully and use it to promote their career or future. “As Americans we should insist on equality in our tax code -- and begin the next millennium by making the progressive income tax an oddity of our history, not a burden of our
Critique Of Capitalism In George Orwell's Animal Farm
847 Words | 4 PagesMarx and Engels look at capitalism with seriously negative opinions. They regard the system as extremely unsuitable, and are deeply concerned with getting rid of it. In a capitalist society, capitalists own and control the main resources of production - machinery, factories, mines, capital, etc. The modern working classes, or proletariats, own only their labor. Proletariats work for the capitalists, who own the product that was produced and then sell it for a profit.
More about Why Millennials Hate Capitalism
A Rhetorical Analysis Of Contributor To Forbes By Tony Nitti
261 Words | 2 PagesServiceman's Readjustment Act 1944
334 Words | 2 PagesHow Did Ronald Reagan's Economic Policies Affect The Economy
799 Words | 4 PagesCompare And Contrast The Economy And The Gilded Age
968 Words | 4 PagesCollinson And Reston Rhetorical Analysis
732 Words | 3 PagesPros And Cons Of The Disclosure Act Of 2010
1035 Words | 5 Pages2001 Bush Tax Cuts Summary
1162 Words | 5 PagesMonopolies During The Gilded Age
1768 Words | 8 PagesGilded Age Capitalism Analysis
487 Words | 2 PagesIncome Inequality In America
968 Words | 4 PagesEssay On Flat Tax
1766 Words | 8 PagesComparison Of Republicans And Democrats
429 Words | 2 PagesSocialism Vs Capitalism Essay
732 Words | 3 PagesProgressive Income Tax In The United States
325 Words | 2 PagesCritique Of Capitalism In George Orwell's Animal Farm
847 Words | 4 Pages