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freeRadical
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I used the word “should”, I never said that what the government currently does is right or proper.
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teeboy
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O.K., then I stand corrected.
But I don’t know where it says the government “should be unbiased in its lawmaking and execution of laws”.
So, it is political or unbiased, depending on who is in there.
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freeRadical
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Of course, the government should be unbiased with regard to law-making. That’s they only way to fair and just.
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teeboy
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Justice is of the utmost concern. Protection of rights is just, but at the end of the day it is poorly executed. However, I can’t think of a better system; well, except for feudalism.
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Zoltan_Cobalt
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It does sound that way…but no.
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Zoltan_Cobalt
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Capitalism is a word coined by Karl Marx to describe the FREE MARKET.
Early in this thread I said I would use the words interchangeably in deference to the OP and others who have problems with semantics.
Government regulation and taxation SHOULD have nothing to do with Capitalism (Free Market).
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Abu
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Voluntary sharing and communal living in a religious community have nothing to do with Communism or other such forced appropriations and destruction of freedom.
“We see in Acts 4:34-35, A Catholic Commentary On Holy Scripture, Thomas Nelson and Sons, 1953:
(This) shows “that property was sold, from time to time, by the owners of it, according as the Church’s need dictated. The sharing of goods was always voluntary. The story of Ananias and Saphira, cf. 5:4, makes it clear that they were not bound to sell, and that after they had, the price was still theirs. When Barnabas gave all his property, such exceptional generosity was chronicled. There are examples of houses held privately in Jerusalem, !2:12; 21:16. St James, in his Epistle, reveals the existence of rich and poor there. The community of goods does not seem to have been very successful, 6:1, and other churches had continually to send alms, voluntarily, ‘each man according to his ability’, to Jerusalem, 11:29.”
The early Christians were NOT communists, Jesus did NOT advocate socialism, Communism and Socialism are condemned, “capitalism” has NOT been condemned (*Quadragesimo Anno *does not even have the word) but has been emphatically affirmed.
St John Paul II clarifies in *Centesimus Annus *#42, 1991:
‘If by “capitalism” is meant an economic system which recognizes the fundamental and positive role of business, the market, private property and the resulting responsibility for the means of production, as well as free human creativity in the economic sector, then the answer is certainly in the affirmative, even though it would perhaps be more appropriate to speak of a “business economy”, “market economy” or simply “free economy”.’
The very term “capitalism” is a derogatory term coined by Karl Marx, and that’s perhaps why St John Paul II dislikes it, as he makes clear as he emphatically affirms free enterprise in Centesimus Annus. The Saint’s disregard for the derogatory Marxist term “capitalism” is noteworthy.
Since here capitalism = free economy, and reaffirmed by St John Paul II is the ‘fundamental human “right to freedom of economic initiative.” ’ (Sollicitudo Rei Socialis (On Human Concerns), Encyclical, 1987, #42), and initiative = enterprise, it is clear what the pope means.
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Abu
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The very term “capitalism” is a derogatory term coined by Karl Marx, and that’s perhaps why St John Paul II dislikes it, as he makes clear as he emphatically affirms free enterprise in Centesimus Annus. The Saint’s disregard for the derogatory Marxist term “capitalism” is noteworthy.
The Catholic way: free enterprise, sound laws, and the morals that maketh the man. The duty of governments is to make wise laws; that’s why we have laws to seek and punish those who steal, cheat, swindle, and to ensure competition. It is people who commit crimes.
The Catholic Late Scholastics taught that some goods must be used to support authority – in the form of taxes. [See *Christians For Freedom, Dr Alejandro Chafuen, Ignatius, 1986, p 61].
Thus does the teaching confirm:
PONTIFICAL COUNCIL FOR JUSTICE AND PEACE
COMPENDIUM OF THE SOCIAL DOCTRINE OF THE CHURCH
“355. Tax revenues and public spending take on crucial economic importance for every civil and political community. The goal to be sought is public financing that is itself capable of becoming an instrument of development and solidarity. Just, efficient and effective public financing will have very positive effects on the economy, because it will encourage employment growth and sustain business and non-profit activities and help to increase the credibility of the State as the guarantor of systems of social insurance and protection that are designed above all to protect the weakest members of society.
“Public spending is directed to the common good when certain fundamental principles are observed: the payment of taxes [739] as part of the duty of solidarity; a reasonable and fair application of taxes;[740] precision and integrity in administering and distributing public resources.[741] In the redistribution of resources, public spending must observe the principles of solidarity, equality and making use of talents. It must also pay greater attention to families, designating an adequate amount of resources for this purpose.[742]”
Notes:
[739] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes, 30: AAS 58 (1966), 1049-1050.
[740] Cf. John XXIII, Encyclical Letter Mater et Magistra: AAS 53 (1961), 433-434, 438.
[741] Cf. Pius XI, Encyclical Letter Divini Redemptoris: AAS 29 (1966), 103-104.
[742] Cf. Pius XII, Radio Message for the fiftieth anniversary of Rerum Novarum, 21: AAS 33 (1941), 202; John Paul II, Encyclical Letter Centesimus Annus, 49: AAS 83 (1991), 854-856; John Paul II, Apostolic Exhortation Familiaris Consortio, 45: AAS 74 (1982), 136-137.
tinyurl.com/nzf9plr
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magnet
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teeboy;12222430Why is it that the government can tax a family owned corporation for not paying enough in dividends said:
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Lost_Wanderer
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Excess? One can argue that the population is in excess, that’s why we have globalization. Don’t blame the system when it’s only trying to meet the demands of a bigger population.
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teeboy
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A family owned corporation is an S Corp. Corporations have the right to check off as an S corp and to be taxed as a pass through entity (similar to an LLC or general partnership); however, the corporation can only legitimately do so by meeting certain requirements which are stipulated in Title 26 (The Tax Code). One way to be eligible for S status and it’s associated tax benefit is to have shareholders who descend from common ancestors. This would be an example of a “family owned corporation” or “closely held corporation”.
The IRS minimizes the power of these corporations by not allowing them to accumulate cash. Therefore, their ability to grow in size, by purchasing additional property, is limited.
On the other hand, a C corporation can accumulate as much cash as the board of directors will allow, and they are not penalized by the tax code for holding the cash in their bank account.
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teeboy
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A free market is essential for capitalism; however, a free market is not capitalism. Capital is a means of production. The other mean of production is labor. Capital does not include inventory because inventory is the end result of capital. Capital is things like equipment, land, and buildings which have an expected useful life greater than one year and which are used in a business operation for profit.
Capital markets are exchanges where the indirect ownership in capital, and it’s associated rights, are exchanged. These associated rights are the rights to the fruits (profits) of the capital, the rights to the proceeds of any sale of the capital assets which exceed the rights debtors have against the capital, and the right to exercise any indirect or direct control over the use of the capital.
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teeboy
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Q. Is Capitalism God-Ordained?
A. Capitalism is foolishness to God. Capitalism is of this world.
A. Capitalism is foolishness to God. Capitalism is of this world.
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teeboy
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If you read the Church teachings, capitalism is in line with social justice to the extent it is used to meet the needs of society.
The Pope recently called out for Catholics to slow down on capitalism or something to that extent. I imagine this is because capitalism, in this nation at least, is being used to meet more than just needs but rather it is being used to meet the desires of human society. Capitalism, along with money supply growth, is helping to create materialism. One may argue that materialism creates jobs and lowers unemployment; another may argue that materialists have too much money.
The Pope recently called out for Catholics to slow down on capitalism or something to that extent. I imagine this is because capitalism, in this nation at least, is being used to meet more than just needs but rather it is being used to meet the desires of human society. Capitalism, along with money supply growth, is helping to create materialism. One may argue that materialism creates jobs and lowers unemployment; another may argue that materialists have too much money.
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teeboy
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So, you are pro-consumption tax and pro-private contract? If so, I would describe you as a diehard libertarian. In my country, the Federal government has the ability to intervene in Private Contracts, we also pay taxes on income and not consumption. So, under your definition, the United States does not have capitalism.
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ThomasJMullally
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Yes, the Vatican has not changed its stance over the years, only elaborated. There are zero gung-ho affirmations of capitalism and US-led globalization. Capitalism has increasingly been the same thing, as consumerism.
However, the libertarians are acting halfway on behalf of restraint, too. While they give free reign to overgrown corporations who churn the markets for goods and services to try and keep ahead (e.g. accelerating rates of obsolescence etc), the problem of over-activity is also spurred by… the requirement to cover the excessive costs of government.
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teeboy
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Well stated.
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Zoltan_Cobalt
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Actually I am anti-income tax.
This country was well on its way to world economic leadership before income tax. Our small, efficient government, of that time, did quite well on tariffs.
And yes, True Capitalism/Free market does not exist in the United States.
I admire a lot of things about libertarians, but their concept of foreign policy is… simply…wacko.
I’m just an ordinary American Conservative who votes independently.
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Zoltan_Cobalt
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A Free Market economy is where no one or group can use physical coercion against anyone, economic power can be achieved only by voluntary means: by the voluntary choice and agreement of all those who participate in the process of production and trade.
In a Free Market, all prices, wages, and profits are determined—not by the arbitrary whim of the rich or of the poor, not by anyone’s “greed” or by anyone’s need—but by the** law of supply and demand.**
The mechanism of a Free Market reflects and sums up all the economic choices and decisions made by all the participants. We trade our goods or services by mutual consent to mutual advantage, according to our own independent, uncoerced judgment. A person can grow rich only if they are able to offer better values—better products or services, at a lower price—than others are able to offer.
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freeRadical
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That is not a free market. In a free market, I can use physical coercion. A free market cannot prevent physical coercion, only laws can do that.
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