Once the plutocracy has destroyed the middle class who's going to buy their cheap China imports or afford to pay for their energy or buy their over processed foods or pay their exorbitant interest rates and usurious service fees.
The free marketers are fond of Adam Smith and use his ideas to promote their behavior—but—on closer reading he never condoned the kind of behavior that is prevalent among modern day Capitalists.
He said:"Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that (the interests) of the consumer." he was just as concerned for the welfare of the consumer as he was for the "job creators" He understood what the "masters of the universe" don't—commerce is a societal contract and that mutual benefit must be shared.
He also said: "As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce." Does that sound like the modern oil barons who exploit the "commonwealth of the Nation and take enormous profits and are also rewarded by our government with tax subsidies on top of their exploitive profits? Does that sound like bankers who get money created from nothing and given to them for free while they profit from it by inflating the cost to borrow it? The current plutocratic class are waging a dangerous war that they cannot win by economic subjugation—sheer numerical superiority will win out as it has countless times before in human history—the French Revolution and our own revolution were violent reactions to the masses being repressed by the ruling class.
On the issue of taxation he said:"The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state. The expence of government to the individuals of a great nation is like the expence of management to the joint tenants of a great estate, who are all obliged to contribute in proportion to their respective interests in the estate."
If he were alive today he would be the first to approve of a tax increase and a "progressive tax system", because he knew there is no free lunch. "And that, to whom much is given much is required."
Commentary: The "conservatives" are fond of pointing out that "our" government of, by, and for the people, is a waste and produces nothing of value. "Its the problem." they say.
I say—It's the problem—that builds dams and roads and bridges—invents the internet—puts a man on the moon and in the process invents thousands of technological innovations that have created jobs beyond anything the private sector could ever hope to accomplish. It's the problem—that launched synchronized satellites that allows GPS and cell phones to operate? It's the problem that controls disputes and conflicts that maintains order and civility. It's the problem—that helps educate our young and care for our old and sick. It's the problem—that rushes into burning collapsing buildings and try's to save lives. It's the problem—that comes to our aid when natural disasters strike. Without the interstate how would they move their cheaply made inferior outsourced products from China. Where would they be without the internet. Where would they be without the stability that a strong government provides.
They say that "our" government is the problem. It seems to me the only time its a problem is when it doesn't favor their selfish point of view and they can't buy enough political clout to get their way.
Its quit clear that CONservs cherry pick their belief systems and ignore long established codes of societal conduct and common human decency. Make no mistake every dime of tax cuts for the "job creators" comes from you and I and adds to the "debt ceiling." Every dime they receive is coming out of your pocket.