Capitalists Vs Capitalism
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  1. #1
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    Default Capitalists Vs Capitalism

    Capitalists vs. Capitalism

    John Stossel


    It's bad enough when leftists smear capitalism. I hate it more when capitalists do it, too.

    I'd hoped for more from the world's current richest man, Jeff Bezos.

    I love the service he created. Amazon lets me buy Christmas gifts right from my couch. Its prices are so low that the Fed chairman says Amazon probably lowered America's inflation rate.

    Entrepreneur Jeff Bezos is a hero. He created lots of jobs and better service, and he and his investors pay billions in taxes.

    So I got angry when I saw Sen. Bernie Sanders' opportunistic fundraising letters condemning Bezos because some of his workers are eligible for food stamps. "In ten seconds," whined Sanders, Bezos makes "more money than the median employee of Amazon makes in an entire year."

    Well, at least Bezos will stand up for himself and the free market system that created his wealth, right?

    At first, he did. Amazon called the criticisms "inaccurate" and "misleading." It's not the company's fault that some workers qualify for handouts. More people would collect them if Amazon did not hire. By creating jobs, Bezos gives workers better choices.

    But the anti-capitalist media don't report that. They called Amazon a "sweatshop" and "cutthroat corporate jungle."

    So Amazon, to my disappointment, caved.

    The company announced it would pay all its workers at least $15 per hour. MSNBC anchors grinned with glee.

    Of course, the higher wage will be good for workers who still have jobs.

    But what progressives don't understand is that entry-level workers will be shut out. Poor people's lives are made worse when laws meant to protect them price them out of jobs.

    Those unhired workers are just as real, even if they're harder to see.

    My recent video on this features a restaurant manager who understands that she only got the opportunity to work because when she was a teenager, her boss could pay her much less. Had a higher minimum wage existed then, her labor would not have been worth it to the restaurant, and she would never have gotten a chance to work her way up the ladder.

    "Minimum wage jobs are an entry-level job to get someone some experience," says California restaurant manager Merv Crist. "Raise that high enough, you cut people out of the market completely!"

    That's not compassionate. Yet progressives talk as if a higher minimum wage lifts everyone.

    At least Amazon is just one company, and Bezos just one CEO. If he wants to pay his workers more, fine. Amazon will attract better job applicants.

    Beginners, kids, the disabled, etc. will still have other choices. They can get jobs elsewhere. Bezos was still a man to like.

    But then Amazon announced that it would lobby government to force everyone to pay what Amazon pays!

    This entrepreneur I admired turns out to be just another craven opportunist.

    Bezos knows a higher minimum wage will hurt his competitors more than it hurts him. Amazon has a lead in automation. He's already replacing some workers with robots.

    I suppose Bezos is just being clever: He'll use government to handcuff his rivals -- and then pat himself on the back and pander to progressives who believe a higher minimum wage spreads money with no ill effects.

    If American politicians are dumb enough to think they can raise wages by force, maybe a CEO has a fiduciary responsibility to his investors to pander to those politicians.

    Bezos has done this before.

    Amazon didn't just announce it would build a second headquarters. It started a competition to see which politicians would squeeze their taxpayers most. One city council even voted to grab land to create a new town called Amazon, Georgia, if the company moved there.

    That city should be grateful it wasn't chosen. Now taxpayers in New York City and Arlington County, Virginia, will subsidize Amazon's jobs.

    This is not good for taxpayers or capitalism.

    Politicians shouldn't pander to companies, and companies shouldn't pander to politicians. We need separation of shopping and state.

    Bezos should stick to innovating, not scheming with politicians.

    Sometimes the worst enemies of capitalism are capitalists.




    https://townhall.com/columnists/john...alism-n2537715
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  2. #2
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    We live in the wealthiest country in the world, yet we can't pay those that carry the brunt of the work load, 15.00
    fucking dollars an hour?

    The balance is so ridiculously skewed, with these pigs getting richer, wanting more, off the backs of
    the folks that are in the warehouses, on the frontlines, killing themselves doing the physical work.

    The minimum wage has been stagnant for how long, while everything else increases?

    The problem is a circle of greed that literally tramples over everyone else.
    It's just gotten so far out of whack, with this constant need to appease the shareholders, at
    the cost of everything else.

    Treat people with dignity & respect.
    15.00 is not a lot of money, certainly not a livable wage even.
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    Listen to this Stossel pig:

    I get to order Christmas gifts right from my couch, and way cheaper!

    Meanwhile, retail is in it's dying breaths, and people are out of work & struggling.

    That's become the Capitalist mantra:

    Fuck everyone else, i'm doing fine.
    I get to do all my shopping on my couch!
    Graver, Walking Ed, refugee from CVH & proud tone chaser...

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    I'm a capitalist, but responsibility comes with it. At some point, as a human being, I think you can say "I have enough money", and maybe pay your employees more.

    When you are worth more than $100B, maybe you can afford to bring home a little less and spread around your good fortune. Just a thought.
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    Using the government's money to help offset employee costs is a bastardized version of capitalism. That's basically what he, and most of these big corporations that pay poverty level wages do.

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    This is an entirely predictable outcome, and it's exactly what I said Amazon was doing back in October when we talked about them raising wages. Exactly.

    Also, let's be real, Amazon raised wages based upon their own self-interest, not because of a soft sport for its least-skilled employees, and they did so knowing the system they are in would allow them the ability to lower overall labor costs while increasing labor costs on competitors. What rational business wouldn't do that if given the opportunity?

 

 

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