We seem to agree on most things. Basically, people in general are corrupt and self-centered; the few exceptions don’t seem to make it into government, and getting there would probably change them in negative ways anyway. I absolutely detest big government. I consider myself to be financially conservative and (at least until about 2020) socially progressive. I can’t seem to reconcile these things and neither party represents me; they both seem to represent corporate interests and their campaign contributors, most of which don’t seem to be average people.
I think that associating socialism with social programs was intentional to label social programs with the evils of communism. Oversimplifications like this basically function as thought stopping red meat for certain audiences, reducing analysis as well as critical thinking and hence individual understanding. This lack of distinction has almost certainly tripped me up over the years, as I support social programs but not a completely planned economy. So maybe I’m not really a socialist, though I do support some level of social programs, even though it seems that my taxes (and really, the share of the national debt associated with me and my descendants) would go directly to others, some of whom certainly don’t seem deserving.
While I have benefited and continue to benefit significantly from capital gains tax rates relative to income tax rates, I think inequity in taxation is much more significant than just this differential. It’s just too easy to maintain wealth after acquiring or even inheriting wealth, especially considering things like IRAs and 529s (which can convert to IRAs, and for which one can change beneficiaries). People that are able to save for education and retirement seem to have significant tax advantages over those that cannot. Additionally, people that have stock portfolios and other assets can borrow against those instead of selling, which allows them to access cash without reaping investment income for which they would otherwise have to pay taxes. There’s a reason that Trump hasn’t release his tax returns.
> controlling the means of production means controlling labor
I feel some vague potential argument around something like blended capitalism/socialism that would allocate resources other than labor more equitably and with less short-term thinking as well as environmental and other damages than finance capital requires, and also about how people that don’t labor can reap incredible gains from stock market and other investments, but I don’t have the time or energy to think about it too much at the moment. From my perspective, we’re basically stuck with the systems that we have and should address some of the inequities, which include inheritance (there are certainly some families that continue to benefit from the legacies of slavery, and basically all Americans benefit from taking land from Native Americans). I know, we can’t go back and change anything, and I’m not in favor of reparations. I see many problems with no apparent reasonable solutions.
I absolutely agree that finance capital could benefit social programs including social security. I cannot understand why the democrats would have been against this. But I also fear that pumping so much money into things like the stock market creates risk by overvaluing assets, which can lead to bubbles and collapses (the cyclical economy). It can also increase housing costs by funneling money into things like REITs and corporate structures that buy real estate to rent out. The money has to go somewhere, even if the underlying assets don’t actually support such high valuations. I am not an expert on any of this; the global and national economic systems are both incredibly complex, many aspects are incomprehensible to me, and there seem to be few certainties. I am somewhat against speculation by the wealthy class, though I also benefit from this.
I really wish that the USA would focus more on profit from sustainable natural resource extraction as well as creating products and services of actual value, not crap like marketing, financial shenanigans such as crypto, and especially things like facebook.