Crony capitalism: Why the tea party and Occupy movements should be friends

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  • iron&clay RIVERTON, UT
    July 10, 2012 8:27 p.m.

    Since 1913 and the Federal Reserve Act, the US has only one option to put money into the economy.... borrow from the Fed. This insanity has created wars and entitlement programs.

    J Ruben Clark worked for the American international corporation between the 1st and 2nd world wars. He gave a speech where he disclosed that this corporation that he worked for was buying up all the industries related to war, and that they were planning WW11. He called it the secret combination prophesied by Ether chapter 8 in the Book of Mormon.

    When the banking dynasty bought up corporations for ten cents on the dollar during the great depression and planned for a world war to run up the national debt, Clark sounded the alarm. But there were few with listening ears.

  • Tlingit Orem, UT
    July 9, 2012 1:41 p.m.

    @ultrabob, I like your point about patent law, however you're distorting Zingales's position. Zingales readily acknowledged taxation WON'T replace regulation; he merely proposes taxation in lieu of OVER regulation in some cases.

    @innocentbystander, I told my political science teacher in 1979 that the left/right political continuum was "laughably flawed," but he didn't think it was funny -- perhaps because he was also our mayor. Speaking of mayors, Rocky and Huntsman?! Really?!

    BTW, "trickle down" DEFINITELY works, as Bill Clinton proved in the 1990s.

    Clinton embraced supply side economics (at least in part) and even reappointed Reagan appointee Alan Greenspan to oversee the Federal Reserve to continue Reagan's fiscal policies.

    Then when the Republicans took over Congress, Clinton balanced 4 budgets in a row, paid down the national debt with surpluses, and REDUCED capital gains and estate taxes (read: tax breaks for the rich).

    The result of cooperative bipartisan leadership? HIGHLY discontent political parties (remember Monica?), but prosperous Americans.

    Seriously, the problem isn't the policies of the left or of the right, the problem is partisanship prevents people from WORKING TOGETHER FOR THE GREATER GOOD.

    Political parties are now the problem, not the solution.

  • SammyB Provo, UT
    July 9, 2012 12:11 p.m.

    The problems with big government and corporations may be two sides of the same coin but the solutions offered by the Tea Party vs. the Occupy Movement are polar opposites. I spent days researching the Occupy Movement and traced it directly to the Zeitgeist Movement, an organization I studied a few years ago. They began as an anti-Christian forum and moved into the political arena. Extreme socialism is their answer to our problems. The Tea Party believes in the principles of freedom, not social force.

    Looking at the underbelly is necessary when all most people see is the Cheshire smile of organizations. Reading Zeitgeists own website and their claims, and then researching those claims is enlightening.

  • innocent bystander SALT LAKE CITY, UT
    July 9, 2012 10:15 a.m.

    PART OF THE PROBLEM IS THAT TOO MANY PEOPLE ARE USING THE OLD DEFINITIONS OF "RIGHT" AND "LEFT". We need a new look at everything. Political correctness and narrow definitions keep us from seeing our true situation and our many obvious common grounds from many corners of the political universe. The flat line, left/right thing is out of date. But the drama and gridlock between the two parties--which overthrew older ones but now cling to all political power--is ridiculous. We are fighting over contraception, which was settled 50 or 60 years ago, while ALEC is about to hold their national convention in Salt Lake. This corporate-funded lobbying group writes national, state, and local legislation for legislatures which is divisive, destructive, and accelerates the trend of sucking the wealth up to the 1% while talking "trickle down" which has not worked. America is ruining itself as the land of opportunity for anyone willing to work hard, and instead passing/resisting "stand your ground" laws and evangelical political messages. The corporations who fund these politicians and the written legislation they hand to "our" representatives are laughing all the way to the bank. Huntsman or Rocky are better choices.

  • Ultra Bob Cottonwood Heights, UT
    July 9, 2012 10:12 a.m.

    Zingales says:

    "If you look at part of the reason why the middle class feels so squeezed," Zingales says, "it is not just because wages have not gone up that much, it is also because the cost of healthcare and the cost of education have gone up so tremendously.”

    “And those are two sectors that are not exposed to foreign competition.”

    “They are not even exposed, in a lot of cases, to internal competition.”

    “So we need to generate more competition in those sectors in order to contain those costs and make people feel and enjoy a larger share of what they make."

    My response:

    American workers are in direct competition with foreign competition, not only by foreign workers, but also by foreign workers coming to America. Then there’s the competition of robots, automation. More competition for human labor will drive down wages further.

    As for the healthcare, there is very little if any competition. That condition is enforced by the monopolies, near monopolies and patent laws that favor them.

    And I’m not even sure I want unregulated competition in the health care industry.

  • Ultra Bob Cottonwood Heights, UT
    July 9, 2012 9:40 a.m.

    I cannot understand how a learned person can lend his talent and wisdom to just one side of the conflict of business against the people.

    If tea party and occupiers are two sides of the same coin, the most important thing about that is that they are opposite sides. They face in different directions.

    The Tea Party wants to do away with government regulation of business. Zingales confirms that and would replace it with a tax. Without regulation, how would our government insure the quality and proper preparation of products for the general public. How would you calculate the tax on peanut butter from an unclean production environment and that which made in a clean, sanitary, and healthy environment.

    People of a society have the right to determine, specify and enforce the adherence to their proper needs and wants. They exercise that right by the regulations on production and processes through their elected government.

    If you take away regulations on quality you take away the freedom of people to know what they are buying.

  • metamoracoug metamora, IL
    July 9, 2012 8:34 a.m.

    Quote from Mr. Zingales: "Here if you fail, it is mostly your own fault."

    Could someone clue Mr. Obama in on this idea?