A Quote by Benjamin Tucker
[T]he State . . . gives idle capital the power of increase, and, through interest, rent, profit, and taxes, robs industrious labor of its products.
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Profit is vital to human well-being. Profit is the payment to entrepreneurs just as wages are payments to labor, interest to capital and rent to land. In order to earn profits in free markets, entrepreneurs must identify and satisfy human wants and do so in a way that economizes on society's scarce resources.
The traditional divide between left and right, capital and labor, small state and big state, high taxes and low taxes doesn't define politics in the way it did in the past.
Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.
Amazon has suffered quarters-long profit droughts. Alphabet has given its investors agita over profligate spending on non-core products. Microsoft's growth - if not its profit engine - stalled for years, causing its stock to idle, too.
The violence inherent in our systems and structures of power is a part of who we are - our thoughts, sensibilities, imaginations, language. We live in manifestations of it - permanent war, environmental destrucution, poverty, racism, misogyny, the assault on labor, torture in our prisons, capital punishment - a corporate capitalist state controlled by oligarchical interests for their own private profit and gain.
It is time that capital and labor realized that their interests are really comutual, as interdependent as the brain and the body; time they ceased their fratricidal strife and, uniting their mighty forces under the flag of Progress, completed the conquest of the world and doomed Poverty, Ignorance and Vice... Unless labor is employed, capital cannot increase - it cannot concentrate. Unless property rights are held inviolable and capital thereby encouraged to high enterprise, labor is left without a lever with which to lift itself to perfect life and must sink back to barbarism.
Where Labor stands idle ... there is a demonstrated deficiency, not of Capital, but of brains.
Moreover, there is an unearned increment on capital and on labor, due to the presence, around the capitalist and the laborer, of a great, industrious, and prosperous society.
Labor has come out with a series of proposals to increase taxes, including taxes on people across Australia saving for their retirement, he has actually identified so far zero dollars in spending reductions.
I never understood how, when if so many businesses can make a profit delivering services and products to state education, you could not take it further and allow for-profit operators to run some schools. Most people care about good outcomes, not whether something is for-profit or not.
Taxes on capital, taxes on labor, inflation, bureaucratic regulation, minimum wage laws, are all - to different degrees - unnecessary slices of the wedge that stand between an individual's effort and reward for that effort.
It is not competition, but monopoly, that deprives labor of its product. Destroy the banking monopoly, establish freedom in finance, and down will go interest on money through the beneficent influence of competition. Capital will be set free, business will flourish, new enterprises will start, labor will be in demand, and gradually the wages of labor will rise to a level with its product.
Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.
If you go out into the real world, you cannot miss seeing that the poor are poor not because they are untrained or illiterate but because they cannot retain the returns of their labor. They have no control over capital, and it is the ability to control capital that gives people the power to rise out of poverty.
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