Guest-worker visas come under fire

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The negative results of unfetterd capitalism

The last time the US and Europe had unfettered capitalism
was in the early 1900s. Most employees were treated like
garbage and the "industrialists" were allowed to run amok -
ruining many people.

The most important result was the rise of Marxism/
Communism. The movement first took hold in western
Europe and the US. New Yoork City, with its large force of
garmant workers, was a hotbed of communist activity. A few
unions were Comunist controlled. Luckily, it was held in
check, in those countries, by the governments bending to the
citizenry. Thos countries went on to create the best living
standards for their citizens. We all know the results in
Russia.

This "world economy" - a creation of multinational
corporations and foolhardy economists - has allowed the
return of unfetterd capitalism. It WILL cause a backlash - as
the article this is related to attests. If the backlash is too
severe, we'll all suffer even more.

One problem has already cropped up; the US budget deficit.
In 2002 (last year of available IRS stats) corporate income tax
only brought in 10.5% of all tax revenues. Personal income
tax brought in 51.5% Various "insurance" taxes like FICA,
medicare etc brought in the rest. The higher unemployment
has lowered collections from personal income and insurance
taxes, while increasing costs under those programs. We all
know about the deficit.

Every time an American loses his job to hob exporting, the US
loses tax revenue at both the employee and employer level.
Yet that unemplyment increases government costs in the
form of things like unemployment insurance, welfare, and
Medicaid. The deficit grows.

That's just one IMMEDIATE problem caused by job exporting.

Posted by: j.m.galvin   Posted on: 02/05/04 You are currently: a Guest | Members login | Terms of Use

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