OCCUPY WALL STREET

[Cin]

Originally Posted by dreadgeek

The other day I read something (I forget where) that has made me ponder whether or not we on the Left aren't hamstringing ourselves in some ways. Part of the problem I see us having in our nation is that, unlike a number of other nations I can name, the rich here do not feel any particular tie to the United States. German companies try to keep a certain percentage of jobs in Germany. Japanese companies behave the same way. As do the French and the British and the South Koreans and the Spanish and the Russians. Not the Americans. Now, is there anyone here who would say that Volkswagen, Audi, BMW or Mercedes-Benz aren't real companies? Would anyone say that they put out products no one wants or products that are inferior? Would anyone say that Sony or Toshiba aren't real companies? Does anyone think that the people who sit at the apex of any of the above aren't rich beyond the dreams of avarice?

Without diving into an orgy of protectionism I would like to see a bit more economic nationalism on the part of American corporations. I would like to see our tax code restructured in order to make it clear that we value job creation *here* not in Singapore. I'm sure the Singaporeans are a noble people with a distinguished history and given a choice between my next door neighbor getting a job building, say, solar panels in Portland and someone in Singapore getting that same job, for the same company, but being paid a fraction of the salary with the profits not being repatriated to the United States, I'll take my neighbor getting the job, thank you very much. I think we can restructure the business tax code to embody that ethic. Imagine, for instance, the definition of a US company (and thus domestic products) being something like this:

An American company is defined as any LLC or LLP or other chartered business which has its corporate headquarters in the United States of America and that employs 80% of its workforce domestically. There is a tax rate for American companies and then there's a tax rate for foreign companies. If My Widgets, Inc. moves its headquarters to the Cayman Islands because of the loose banking laws, they are no longer an American company. Their products are now imports not domestic products. They are taxed at the higher rate for foreign companies and their goods have whatever kind of import or excise taxes that foreign goods have. This would make the widgets from MWI far *less* competitive.

Now, has the government told the owners of MWI where they have to put their factory or their HQ? Nope. They are free to move their business anywhere they wish. They are also free to pay the consequences for doing so.

The Right loves to talk a lot about personal responsibility and 'moral hazard' but that is always and forever a one-way street. If we have long-term unemployment benefits that creates a moral hazard. If we have a welfare system at all that denies personal responsibility. But for some reason, the moment we are talking about businesses there's no more responsibility and there's no more moral hazard. Suddenly businesses will always do the right thing in all circumstances regardless of what their actions actually are. How do we know those are the right things, because businesses do them.

If personal responsibility is good enough to cudgel the high school dropout with then I think it's good enough to cudgel the MBA from the Wharton school who gets it into his head that it would be a great idea to buy up company X, strip it to the bone, move the HQ to someplace where they won't have to pay taxes, move whatever is left of the manufacturing operations to some other nation where they can pay workers $2 a week, and in the process completely obliterate the economy of an American city. If we can say that unemployment benefits should be limited lest they be abused, then we can equally say that the tax code shouldn't be an invitation to ship good, middle-class jobs overseas lest business people be tempted to do what we've told them, through the medium of our laws, is perfectly acceptable. I don't see how we can do that without appealing to a sense of 'you take care of your countrymen first' across the board.

I do agree with economic nationalism. I hope we can force corporations to accept more accountability for what is happening here at home. Guilt tripping, moral accountability and responsibility are useful and a call to nationalism is fine. Finest of all will be some well placed taxes and incentives to make them take responsibility for their country. Will it happen? I sure hope so. However, I can’t help but believe that we are not the only people who understand what a logical step these laws are if anyone is interested in economic recovery. So if they know it, but are refusing to do it, then we are left with the realization that we will have to make them. However, something will have to change dramatically for the 99% to get the power to effect change anything like what we are talking about.

So nationalism is good and necessary. However, that said, I believe the kind of financial terrorism we are seeing perpetrated by the banking cartel will not be fixed so easily. This is where I see a united global response being needed. There is and will continue to be a financial globalization and in order to counter balance this there will need to be a more united global response. I don’t know what this will look like and I’m certainly not advocating no borders or world citizenship or anything even remotely in that vicinity. I am talking more about a united philosophical ideology concerning the rights and dignity of human beings. A kind of global philosophical revolution. I understand that any kind of united global resistance is a long way off. We are seeing significant global unrest but this is just the beginning. I am not advocating taking jobs away from Americans and giving them to people in other countries. I agree that we need to focus on our own economic recovery. I am saying that because of the way the world works at this time we will ultimately need to come up with a global response to the things that are effecting everyone world wide. We need to understand that the struggle of one is the struggle of all, freedom for all or freedom for none. This does not mean I am against economic nationalism.