Is Capitalism dead?

Interesting opinions from a political expert/philosopher on current and future economic conditions with a focus on Capitalism.

I especially found statements near the end of the video assuring. Basically, the point was made that Scandinavian countries, while maintaining a high degree of social programs and a far more level income equality ratio among their citizens, they remain among the top countries in global economic competitiveness. In other words, the old argument that conservatives like to use for attacking all forms of  income re-distribution is a crock.

There is no reason why the wealth of a country cannot be more evenly shared while the nation remains vital in a global, competitive economy. You don't run out of "other people's money" because not everyone gets "on the dole" just because they can. People are just as anxious to invent, discover, and create jobs even if they won't earn the obscene amounts that their American counterparts do. I use the word "obscene" not because I begrudge anyone the fruits of their labour, but only because that wealth comes at the expense of large numbers of hard-working or even non-working folks who struggle for food and shelter every day.


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Who's paying the taxes?

From Wall Street Journal:

U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years.
Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That's the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008.

LINK

And the fat cats keep wondering what all the excitement is about. Occupy this!

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