[DIRTYSECRET]

My bone to pick. The ‘poorest’ 20% are not all poor. Confine the study to the poorest 10% and then see the results. Probably good but not the same.

[left that other site]

Since “Capitalism” is a marxist term, I prefer the designation “Free Enterprise.”

It has a nice ring to it.

[conservatism_IS_compassion]

Did you know that the consumption of the poorest 20 percent of Americans is roughly equal to that of the average Dutch or French person, and higher than that of the average Brit, Swede, Dane, or Japanese person? Our poor people are richer than the middle class of most nations!

This is a salient point. Leftists prattle about “systemic racism,” but in their terms their own philosophy is “systemic consumerism” - they have absolutely no sense of the privations which are commonplace elsewhere but are practically unknown here.

[MV=PY]

Good stuff!

1. The highest marginal income tax rates for individuals and businesses shall not exceed 28 percent.

2. There shall be no reduction or elimination of income tax deductions and credits unless matched dollar for dollar by further reducing tax rates.

3. All assets will be indexed to inflation for the purpose of calculating capital gains.

4. No gift, estate or inheritance tax shall have a top rate of more than 10 percent and no such tax shall be imposed on any such transfers of $10 million or less, annually adjusted for inflation.

5. The federal government shall generously fund research and development, which are the foundation of the nation’s prosperity, skilled jobs and material quality of life.

6. The dollar shall be defined as a fixed weight of gold legally convertible thereunto by any person or entity, foreign and domestic.

7. The Treasury and any other instrumentality of the United States shall not incur any additional bonded liabilities except upon approval by two-thirds of the legislatures of the states.

8. Civil asset forfeiture to the federal, state or any municipal government is prohibited and criminal and civil fines shall be proportional to both the ability of the adjudicated party to pay these and to the severity of the infraction.

9. No regulation affecting more than $100 million in economic activity shall be adopted until enacted by the Congress of the United States and signed by the president.

10. No government shall exercise control over wages or prices, including the pricing of telecommunication services, rent or imposition of a minimum wage.

[Dahoser]

He goes into greater detail in The Ten Commandments of Capitalism, explaining why they are crucial and how they work.

Only ten? Where are the remaining 275 Rules of Acquisition?

[pabianice]

The Ferengi already have one.

[null and void]

I notice that Commandments 4 and 5 are missing form the Townhall story...

First Commandment: Cap the top income tax rate at 28 percent.

The truth is, “cooperation is the source of mutual prosperity.” In the 1980’s the income tax rate was reduced by 30 percent for everyone, followed by reducing the top rate to 28 percent. These moves supercharged America’s growth.

Second Commandment: There shall be no reduction or elimination of income tax deductions and credits unless matched dollar for dollar by further reducing tax rates.

Getting rid of deductions and credits is nothing more than a sneaky way to raise taxes.

Third Commandment: Index assets to inflation for the purpose of calculating and taxing capital gains.

Benko explains that it’s unfair how the government taxes the sale of investments because this doesn’t take into account inflation. The $1,000 you invested 20 years ago would have to increase to $1,500 now in order to break even selling it.

Fourth Commandment: No gift, estate, or inheritance tax shall have a top rate of more than 10% and no such tax shall be imposed on any such transfers of $10 million or less, annually adjusted for inflation.

Fifth Commandment: The federal government shall generously fund research and development which are the foundation of the nation’s prosperity, skilled jobs and material quality of life. Sixth Commandment: Return to the gold standard.

The Bank of England published a white paper a few years ago which revealed that if we’d remained on the gold standard, “The average person’s real income would be nearly 50% higher, the increase in prices would be nearly 50% lower” and other economic benefits.

Seventh Commandment: Limit spending by adopting a balanced budget amendment that requires a supermajority to suspend.

Reagan once said about Congress, "I made a speech a while ago comparing their spending habits to those of drunken sailors. And then a number of my staff members told me that that was unfair to drunken sailors because they at least were doing it with their own money.”

Eighth Commandment: Prohibit civil asset forfeiture.

The Fourteenth Amendment to the Constitution clearly states that no person shall "be deprived of life, liberty, or property, without due process of law." Seizing people’s property before they’ve had a trial clearly violates this; it is perplexing that these laws have been allowed to remain on the books.

Ninth Commandment: Bureaucratic regulations are limited to affecting no more than $100 million.

Any regulation affecting more than $100 million must be passed by Congress and signed by the president.

Tenth Commandment: Government shall not control or set wages and prices.

Benko provides several examples of how repealing these laws has resulted in lower prices and higher wages. Reagan decontrolled oil and gas prices, and there was no spike in gas prices.

[Pajamajan]

Bookmark

[null and void]

Slightly different version:

We Offer The Ten Commandments of Capitalism to Create Prosperity

The members of the Capitalist League are united in support of the Ten Commandments of Capitalism:

The Capitalist Manifesto calls for the adoption of these ten commandments of true Capitalism to replace those of The Communist Manifesto:

1. The highest marginal income tax rates for individuals and businesses shall not exceed 28%.

2. There shall be no reduction or elimination of income tax deductions and credits unless matched dollar for dollar by further reducing tax rates.

3. All assets will be indexed to inflation for the purpose of calculating capital gains.

4. No gift, estate, or inheritance tax shall have a top rate of more than 10% and no such tax shall be imposed on any such transfers of $10 million or less, annually adjusted for inflation.

5. The federal government shall generously fund research and development which are the foundation of the nation’s prosperity, skilled jobs and material quality of life.

6. The dollar shall be defined as a fixed weight of gold legally convertible thereunto by any person or entity, foreign and domestic.

7. The Treasury and any other instrumentality of the United States shall not incur any additional bonded liabilities except upon approval by two-thirds of the legislatures of the States.

8. Civil asset forfeiture to the federal, state, or any municipal government is prohibited and criminal and civil fines shall be proportional to both the ability of the adjudicated party to pay these and to the severity of the infraction.

9. No regulation affecting more than $100M in economic activity shall be adopted until enacted by the Congress of the United States and signed by the president.

10. No government shall exercise control over wages or prices, including the pricing of telecommunication services, rent, or imposition of a minimum wage.