Wall Street Bailout Is Socialism

By now you will have read or heard about the federal government’s bailout of certain Wall Street investment firms that threatened to declare bankruptcy over the weekend.

The treasury estimates that this bailout of private corporations by taxpayer money will cost the nation $700 billion.

Since the appearance of the Communist Manifesto in 1848, the capitalist ruling class in the West — and in particular the United States — has maintained an unremitting campaign against anything even tainted with “socialism.”

Until this weekend.

For the federal government to take such action — that is, to bail out private corporations and the investor class — is nothing short of a socialist policy.

In the rest of the civilized world (who also used the metric system; only the U.S., Liberia, and Myanmar do not), government-owned industry competes side-by-side with private industry, under what we might term “Western-European-style Social Democracy.” Despite some problems, this system has provided most western European states with free or nearly free healthcare and higher education, and a host of other quality-of-life programs.

This is not the case in the United States, of course. The capitalist-investor-ruling class has consistently preached “rugged individualism” and the “free market” as the cure for all of our ills. This has kept the U.S. from adopting national health care and free higher education like the rest of the western world.

Until this weekend, that is, when socialism suddenly seemed perfectly reasonable.

“Rugged individualism” and the unregulated “free market” led to disaster.

And now the corporate-investor-ruling class turned to the federal government for a bailout. These same closet socialists decry all sorts of social welfare programs for the middle class and the poor, but hold their hands out when their own livelihood is threatened. To them, the federal government is — and has been under the Republicans since 1994 — a gigantic emergency fund for their protection, and not for the average Americans that pay into the treasury every year.

The wealthy and corporations, of course, by and large evade paying their taxes! And, despite running these companies into the ground, corporate leaders are still taking huge bonus and salaries. This represents a massive wealth-redistribution program that the capitalists always warn against; except this time, instead of money going from the wealthy to the poor, it’s going from the middle class to wealthy.

This is an outrage, pure and simple.

You and I — the average working tax-paying citizen — are denied the benefit of our own tax money for progressive social programs, while it is used to bail out the ruling class.

So you say you want a revolution? I certainly do.

[Links to sources to follow … I’m too tired right now.]


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