Thread regarding Bank of New York Mellon Corp. layoffs

More on capitalism and our system

It seems like there are some disagreements about my previous post on capitalism. Let me explain more, and you don’t have to agree with it — that’s totally fine.

  1. In the last post, some of you said there are many welfare abusers in this country. I do agree there are abusers, but that’s only a small percentage of people. If you work at BNY, you are probably not eligible for any type of benefits.

  2. The government pays for the benefits, but where do the benefits go? Most of them go to the healthcare industry and food stamps. As we all know, healthcare is notoriously expensive in the US because the priority goal for hospitals is to chase maximum profits. Isn’t this capitalism at its peak?

  3. By now, most people would think, “Oh, so you just want communism.” The answer is no. The opposite of capitalism is not communism. We need to fix our current system so that most profits won’t go to the top 1 percent. The benefits that the government spends on people are bananas compared to the taxes that the top 1 percent have avoided.

  4. Capitalism chases monopoly. In this country, our food, water, electricity, banks, and healthcare industries are dominated by very few companies. If you really like competition, then how is this a fair game?

  5. For most companies, there is only one goal for CEOs — the stock price. When companies make money, most of it goes to executives and stock buybacks. Just use our company as an example: our main business hasn’t grown for years, but the stock price is going up. Why? That’s because the executives cut back our benefits and outsourced. They used the money being saved to buy back stock.

  6. We have the most Fortune 500 companies, and yet they only pay 9 percent of all government income taxes. Let that sink in for a moment. Where did all the money go?

  7. Let’s take insulin as an example. The price of insulin is 8 to 10 times higher than in other countries, yet the cost to make insulin is extremely low. The same logic can pretty much apply to other industries as well.

Overall, if this is really capitalism, then it’s not functioning very well — at least for 90 percent of Americans.

#Company #Culture #Discussion #Economy #Healthcare
by Anonymous
| 7392 views | | 6 replies (last January 12) | Reply
Post ID: @OP+1kes5p2kx
Comment! It's anonymous!

6 replies (most recent on top)

Those of us on the payroll get sc--wed on taxes. That would be the upper, middle and lower class. Those that own businesses and assets have all the tax breaks.

by Anonymous
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Post ID: @az+1kes5p2kx

@aj
Easy there Fidel Castro, dont hurt yourself. Like a parrot- ‘Get the rich .. Get the Rich !!! Squawwwk raaah.. weee wooo’. LOL. You just made capitalism’s benefit point without realizing it. The rich aren’t stealing the cake. The rich are creating the ingredients and baking it and putting it for sale for all to enjoy. Capitalism and the rich are not the ones allowing jobs to disappear. Its a lack of control and non enforced labor law control. BNY for instance, is a US based company getting away with mu---r by allowing US based labor to be eliminated whist enjoying domestic tax status. As for taxes…. Do you even realize that the top 10% of income earners in the U.S. pay about 83% of all federal income taxes. They also account for more than 68% of all federal taxes collected, reflecting a highly progressive (and socialized) tax system. If we enforce the laws we have, then certainly we would have more tax revenue. Problem is, BNY and its PAC’s get honey deals from politicians and govt to look the other way. Ever wonder why BNY remains based in NYC?

by Anonymous
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Post ID: @ay+1kes5p2kx

@a6
Correct. There are a large pecentage of welfare abusers in this country. In fact, anyone here drawing govt assistance who is not a citizen is an abuser- these are tens of millions. Anyone getting social security illegally is an abuser. The study on it last year with DOGEb found millions. There are people collecting social security who are over 130 years old. But the real crux of this is that the original
Poster is confusing government and pooled health care insurance costs with capitalism. They are not. The Government itself while a protective control for capitalism is NOT capitalism. It generates no wealth. It is 38T in debt. Government action is not inherently capitalism, as capitalism is defined by private ownership of the means of production and market-driven allocation of resources rather than state control. While governments may regulate markets or enforce property rights, these actions do not constitute capitalism itself. In fact, the government owning or directly managing the means of production is the opposite of capitalism
The problem with pooled insurance costs, high taxes, welfare, jobs leaving the US with no recompense is not capitalist failure. It is a failure of government regulations and oversight. Look at the very nature of this site, jobs getting eliminated in the US and allowed to be done despite labor laws and worker protections.
Guess where the fault lies?

by Anonymous
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Post ID: @at+1kes5p2kx

@a6
I think you're missing the author’s point. Even if every single poor person were stealing from welfare, that’s still crumbs compared to what the rich take. Imagine how much tax revenue we would generate if companies stopped outsourcing jobs to India? The poor are stealing crumbs, yet the rich are stealing the whole cake.

by Anonymous
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Post ID: @aj+1kes5p2kx

This is Gold
Logical, coherent, no emotions. just pure data and logic

by Anonymous
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Post ID: @a7+1kes5p2kx

I agree with all points except #1. You’re very nieve if you think there are a small number of welfare abusers in the country. This number is pretty high and our govt has allowed this garbage to go on for many years

by Anonymous
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Post ID: @a6+1kes5p2kx

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