Capitalism Gone Wild

Yesterday, I watched the Phillies home/season opener. During the game I heard that one of the Boston Red Sox players has a 5 year/$95,000,000 contract. Please tell me why this is. The President of the United States is arguably the most important man on earth, and he only has a 4 year/$1,000,000 contract. And that might be too much.

Runaway capitalism, as some call it, is a big reason why there is such a gap between rich and poor. While we have baseball players which are getting millions to play, what many play for free, we have people that could in no way afford to go watch a $95,000,000 baseball player. Any baseball player that gets that kind of salary is just plain greedy, and cares nothing about the young baseball fan whose parents can't afford to take him/her to a game.

Many see the problem, but the solutions are varied. Some believe we should go the Karl Marx route in repairing this problem. Some would like to see a raise in the minimum wage, which would actually make the problem worse. Many more would become unemployed as many small businesses would probably close down because they can no longer afford to stay in business. We have already seen many layoffs due to the high cost of doing business in the United States. Some companies have moved their factories to other countries. The only people a greater minimum wage can benefit are big corporations who will lose their competition from smaller companies. So, that's not the answer.

People are clamoring for Government to do something, but often what people ask for will only make the problem worse. However, since our Government's economic policies has made this problem worse, the Government should address this problem.

My earlier economic plan I believed would have corrected the problem of capitalism gone wild. That particular plan doesn't exist anymore. Our government must return to Constitutional Economics. This would bring Government Spending under control, allowing for lower taxes. Even the Greed Tax I proposed would not add to the tax burden of the American people. That $95,000,000 baseball player would have to give 10% of his income to the Federal Government. That would equal 9.5 million dollars. Every millionaire would be subject to this tax. Anyone earning less than $1,000,000 would pay no income tax. It would not even come off their paychecks. You can see the other provisions of the Greed Tax in my Economic Plan.

We should eliminate the minimum wage at the Federal level. It is unconstitutional for the Federal Government to determine the wages of anyone except those employed by the Federal Government. This is a power reserved to the States, or to the people. Besides, the idea that one size fits all is ludicrous. While a minimum wage of $10 per hour might be okay in some States, it would be devastating in other States.

I believe my economic plans would tame capitalism and make it work for all of us. Therefore I ask for your support for me to be the next President of the United States of America.

To see what others are saying on this topic, just Google "capitalism gone wild."