For years here in America, capitalism was considered inherently patriotic…right alongside apple pie and soccer. It even goes farther than that. In this country, there are those who treat capitalism with almost demi-god status (“take away my education, take away my healthcare, but don’t you dare take away my capitalism”).
We Americans need to finally come to grips with the fact that neo-capitalism – as it is practiced today – is no longer an intrinsically patriotic thing.
The simple fact is that the current-day incarnation of neo-capitalism (also known as globalization) cannot be patriotic when it lives as a fluid thing that knows no borders. It eats, breathes and lives in any country that fleetingly can provide it with profit…and when the profit shrinks it moves on to its next profit locale, wherever that may be (and – increasingly – it’s not within our borders).
How can the investment of domestic capital into foreign markets – whereby they grow sturdy and employ and thrive – be considered patriotic for our homeland? Case in point: China. Our investment into China over the last 15 years has obviously netted profit for many, but it has catapulted China to near economic super power status. And precisely because of this investment into their infrastructure, they’re waxing while we wane (wax on, wane off). Good for the US? Not likely. Was it patriotic for those chasing short-term profit to invest there instead of here? Hell no.
So now we Americans are finally beginning to understand that capitalism and patriotism do not necessarily walk hand in hand.
Yet no definition of a problem is complete without a solution, so here’s what we need to do:
- Tax at 73.5% those who would invest their capital in foreign countries
- Tax at 17.5% those who invest in our homeland.
Only in this way can we return capitalism to being the much-adored and patriotic thing that Americans naively believe it to be…
Here’s a great article, btw, from Yukio Hatoyama, who heads up the Democratic Party of Japan (Huffpost, 8/25/09): http://www.huffingtonpost.com/yukio-hatoyama/japan-must-shake-off-us-s_b_268567.html