Capitalist Principles Pt. 1 ... CAPITALISM - An economic system in which the means of production, distribution and exchange are privately owned and operated for private profit. - - - WEBSTERS DICTIONARY PRIVATE PROPERTY - As protected from being taken for public uses, is such property as belongs absolutely to an individual, and of which he has the exclusive right of disposition. Property of a specific, fixed and tangible nature, capable of being in possession and transmitted to another, such as houses, lands, and chattels. - - - Blacks Law dictionary, sixth ed., p.1217 If you concatenate capitalism with private property, you can see the inconvenient truth. ❏ CAPITALISM is an economic system in which the means of production, distribution and exchange are absolutely owned by INDIVIDUALS and operated for their individual profit. If you think about it, capitalism is an endowment to be secured by government. There is no government privilege involved in absolute ownership of the means of production, distribution and exchange, and of the gain derived. Nor can capitalism be subject to an excise tax, since no government privilege is involved. This definition does NOT include usury, gambling (underwriting), speculation, extortion, limited liability artificial persons (government privileged), group ownership or other predatory practices usually attributed to capitalism. Coincidentally, such practices are subject to an excise tax, for they are revenue taxable privileges. -------------------------------------- Artificial Persons = corporations / LLC / PPC, etc.
Posted on: Wed, 10 Dec 2014 16:42:12 +0000
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