Tuesday, November 14, 2017

Looting by any other name


-Leverage buyout 'investment' (see Mitt Romney a la Bain Capital).-Agriculture caused desertification (Dust Bowl, expanding deserts in Africa, desertification in Latin America).
-Surface mining (includes strip mining, open pit mining and mountain top removal). All forms of looting with specialized knowledge. They are characterized by (1) speed - victims don't have time to realize danger and mount defenses; (2) dirty - function of speed; (3) crude - function of speed; (4) cheap operating costs - minimum investment in workers, capital, safety, etc. The goal is to strip a resource of everything that can be sold for money as quickly and cheaply as possible. The result is rich looters and no resources - businesses without capital to produce; land without water for farming; land without clean water, soil capable of supporting life and contaminated with introduced toxins and mine tailings. The Ryan-Trump Tax Bill loots the public commons by tax policy. Taxes are the resources of a nation; they pay for the public commons of education, healthcare, infrastructure, public services, defense, etc. By reducing the tax payments of the wealthy, this tax plan is effectively looting the public commons. The danger is the destruction will be so deep and thorough, recovery will be nigh impossible.

No comments:

Post a Comment