No Wonder Millennials Hate Capitalism

A generation maligned as entitled whiners will be particularly hard hit by the Republicans’ wretched tax bill.

Comments: 130

  1. The "won't lift a finger" is aggravating because we have an economy that functions in no small part due to the working poor. When you make minimum wage or heck, $10-$12 an hour, you do end up spending every penny you make. You may not have enough if you have kids. We don't help these people. We don't help them get educated or better jobs. Corporations don't help these people- they invest in technology so they won't need these people. There is a small sliver of jobs for educated people that pay living wages. I don't think corporations owe society anything- I don't think trickle down economics applies anymore. Companies are just becoming more efficient and needing fewer people- so giving them tax breaks doesn't necessarily create jobs, it just creates profit.

  2. News - you don't have to be a millennial to loathe what the GOP is doing almost everywhere, and especially with their vaunted "tax cuts". This will exacerbate existing inequalities and social division, as well as expanding the deficit. At the center of all of these abominations is our pay-to-play political process, which neither party has seriously tried to change. Until someone does, all bets are off that we can make the changes that we need to have the society that most of us want. We have seen already how mass social disaffection can lead to irrational electoral outcomes. In the end, I think we will be lucky to avoid a war.

  3. Maybe folks who are wealthy today but received government aid in their past, should pay back every dollar they ever received. I find it galling that some recipients of past aid now think that nobody is deserving.

  4. Capitalism, while not an inherently bad model, will fail because those who have can never have enough, and begin to rig the model to their liking. They forget they are only .001% of the population, and, if history tells us anything, it never ends well for them.

  5. fantastic op-ed. as a grad student in my late 20s, I couldn't be more cynical and skeptical of unbridled capitalism. I would be more than happy to take my natural science PhD to a more socialist, citizen serving country like pretty much anywhere in Europe.

  6. Holllld on here. When millenials use the word 'socialism', they are fully thinking of western European modern social-captilistic countries most all of the time. This is the sort of headline and writing up front that is designed to give old people heart attacks. I am an older millenial (mid 30s), and consider myself moderate (in terms of western civilization -- I want much, but not all aspects, of western european socialism), and when I say I 'hate' capitalism, what I am saying is I hate today's modern American version of 'capitalism' where the economy is dominated by monopolies, oligarchs, and the tax system gives special low tax rates and loopholes to owners. The current bill does make this even worse, as it levies LOWER tax rates on business owners, no matter their income, than middle-income workers while giving said business owners a plethora of tax write offs while eliminating many of the same tax deductions on workers. With this tax bill especially, but even a bit so in our current system, workers are paying higher tax rates on stagnant incomes than the people we work for who are only getting richer. So yes, the thrust of the article is correct.

  7. If you don't like capitalism now, just wait. A McKinsey report last week estimated that by 2030 we will lose 30% of our jobs to automation. Ain't that grand? Just think of all the implications of that, with unemployment, under employment, wage stagnation, fighting in the streets for jobs etc.

  8. Socialism is looking better and better every day and not just among the young. When Hatch and Grassley can prove that "people won't lift a finger to help themselves" or "they spend their money on booze women and movies" then maybe they will have a valid point. But there is no proof of either of those statements. Unless of course they are referring to themselves. Based on their work ethic of 2 1/2 days a week, spending the rest of the time on taxpayers money, raising money from donors, they should be returning their salary and benefits to the Treasury. In fact all of our leaders should be required to do that. Then maybe we will have the billions required to take care of serious matters. Like Heath care, education, civil rights of all citizens, etc. Bullies alway pick on those less powerful than themselves. These two are bullies of the highest order. Time for them to retire.

  9. Capitalism must be regulated. We have seen what happens when it is not, companies canning rotten meat, no standards for medicine, Wells Fargo opening accounts for clients without their knowledge. The question, then, is how much regulation. Conservatives want to get as close to the Robber Baron model as possible. The Rich made lots of money. Workers worked 10 hours a day (or more), 6 days a week (or 7), no holidays, no sick pay, no family time. Life expectancy for workers as about 50 or so. Infant mortality was 3rd world level. This is unregulated capitalism. On the other hand, we can see the results of highly regulated capitalism in many European countries that educate their people, take care of their medical needs, retirement needs, 4 weeks paid vacation for all workers by law, and run balanced budgets. No country modern country governs by low tax, low regulation policies because they cannot match the results for the citizens has mentioned above. One would think that the Conservatives would be at least interested in the balanced budget part. But they are not.

  10. So what you're saying is a return to the robber baron model would take care of the SSI "crisis?" Have you shared this with the office of Very Serious Policy Wonk Paul Ryan?

  11. Millennials can't hate capitalism because they've never lived in such a society. Capitalism - as an economic system - has been dead in this country for quite a while. By definition, capitalism reinvests capital - money - to help build better products/services to be sold in the marketplace. When's the last time a corporation reinvested in their business by creating breakthrough products, hiring new people, improving infrastructure? Or do you think they'll simply buyback stock; "profit" with no risk. By definition capitalism demands competition. Reagan started us down the monopolistic slide 40 years ago. In today's NYT: CVS to buy Aetna. Does anyone really think CVS wants to buy Aetna to improve the customer experience and lower prices I could go on, but why? We live in an oligarchy or plutocracy - not a capitalistic society. A new feudalism. Perhaps most alarming, our very democratic way of life hangs in the balance. As Piketty observes, situations like this have historically resulted in violent revolution. How do we prevent this from happening before it's too late?

  12. Capitalism, and it's crony, greed, have finite lives in our future, simply because the resources necessary to continue the trend are finite. The planet simply cannot sustain the capitalist trend in the long term. It is time now, for people to be considering an alternative that will lead to peace and prosperity for all in a less materially driven world.

  13. If wonder what all of these self important entitled 5% will do when the people who have to live paycheck to paycheck no longer fix their roads, clean their houses, mow their lawns or are nannies to their children because they do not have the resources to sustain themselves. When the infrastructure has collapsed, the school system can no longer educate the masses and the homeless population reaches a critical mass I suppose they will move to Europe where they can repeat their process all over again. We need to knock many of the Louise Littons in this country down a few pegs.

  14. As a card-carrying baby boomer I recall that many in my generation (at least those well off enough to be in college) back in the 60's and 70's hated capitalism as well. Capitalism" was evil. It was mind-numbing and soul-killing for those who practiced it, and cruel and oppressive for those who it was practiced against. When we reached our 30's, though, most of us came to the realization that life in an industrialized society was a lot more fulfilling and enjoyable if you could afford many of the pleasures that society offered: nice homes, good cars, computers, Caribbean vacations, etc. And the ONLY way to afford these things was to join the capitalist system. And so we held our noses and did so. 50 years later, many of us have done rather well. Some are incredibly rich. Others, like myself and most of my friends, while certainly not wealthy, have lived and continue to live reasonably comfortable, enriching and fun lives with the money we have earned through our smart and hard work and perseverance. I have no doubt that the same reality will come true for today's millennials. Or, as George Bernard Shaw once put it... "If a man is not a flaming liberal at age 20 then he hasn't got a heart. And if he is not a hardened conservative at age 60 then he hasn't got a brain."

  15. Millennials are being "robbed" of what, exactly? This is a strange logic, since tax cuts are simply the government letting the taxpayer keep more of their money that they've earned. Tax cuts are not a "redistribution of wealth"--it's the Left that redistributes wealth when it moans about how tax cuts may leave less room for government spending programs. Government spending, of course, comes from "other people's money." As far as morality, why am I obliged to other people I've never met merely because they happen to exist and possess two (or fewer) legs?

  16. Luther, if your fellow citizens thought the way you did, they'd be happy to step over you as you lay bleeding to death in the street.

  17. Reply to Sloan - Your comments sum up the selfish, thoughtless greed of the GOP minions. It would be okay if the playing field were even. It's stacked. If you had your ways children would be dying in the streets. Nice.

  18. I have a theory about the apparent mad rush of Congressional Repubs., their wealthy backers, & ultra conservatives to undue every reform since basically 1933. I think they saw Obama's elections, consulted the numbers on demographic change, & applied their own specious reasoning about poor people (the sort of thing Grassley & Hatch said here), & concluded that their days of wine & caviar are numbered. So therefore, they are attempting to create every institutional & practical roadblock possible against an assumed future Democratic majority that could sweep away their wealth & take us back to the social system of the fifties & sixties, albeit this time w/equal treatment for women & minorities. In other words, their extremely punitive policies toward the poor & workers, AND their willingness to tax basically every non-wealthy person trying to climb the ladder via education, are not just based on a lack of sympathy & generosity, but on a SIEGE MENTALITY. They really have bought into their own propaganda that says that the "undeserving" will take everything if they make ANY compromises w/them. Now, they justify this attitude by wrapping themselves in the Constitution & invoking "principles of limited gov't" & "originalism", but its really about fear of coming social revolution if they give any ground. The irony of all of this is that most Americans would love free markets & limited gov't, if Repubs. were willing to compromise & allow us just a bit of reform & security.

  19. Many millennial hate capitalism because capitalism requires them to try. It requires them to put down their video games/lives as struggling actors/TV remotes and do hard work for many hours every week. Millennial were brought up being told that all that matters is their feelings and they can do whatever they please in life.

  20. Joe, I respectfully disagree. The deck is stacked against the millennial and all subsequent generations. Imagine playing a game of Monopoly where the other players were able to make ten trips around the board before you could begin playing. Why bother playing as there is no way you could win/survive more than a few turns? I am sure some would label the newest potential player weak, lazy, and whiners. The first players would claim that every player started with the same amount of money, use the same dice, and move on the same board so the new player has the same opportunity as they did. Clearly the game as described is not fair.....neither is today's economic environment. Is player who does not engage in either scenario smart or stupid? Let's design a better game.

  21. I graduated from high school in 1995. I came of age during the internet craze when the economy was booming and finding a job was easy as pie. I was able to make a comfortable life with some college education. I was paid a living wage that allowed me to pay my bills, save a little, and still have some fun. Life was good. Then the recession hit and I lost everything. Finding a job was challenging and what I could find didn't pay benefits until the ACA came along. My story is not unique and the millennials have grown up watching their parents go through the same struggle. When you look at the countries that are the happiest countries they have strong social safety nets, affordable education, well developed infrastructure, excellent public schools, universal or well subsidized healthcare, and programs that​ support working parents. They do this with high individual taxes and a belief in collective responsiblity. Millennials look at the two systems and recognize that we're rotting. We reward the wealthy at the expense of the rest of us. If the wealthy want to hold onto their wealth they need to give back. Otherwise they're going to lose everything because of a generation who is tired of their greed and isn't willing to live a substandard life so the rich can live like kings.

  22. The problem is that in the United States, our so-called 'conservatives' advocate socialism for the rich and capitalism for the poor. Thus our tax code displays a distinct preference for passive income over income from labor. It will soon favor the transfer of wealth, typically accumulated through tax sheltered investment, free from federal taxation. Our 'President' himself disproves Mr. Grassley's rationale for abolition of the estate tax, which affects no estate worth less than $10 million. You can count on one hand the number of Americans who die leaving over $10 million each year as a result of a life of hard work and frugality. A man who inherited millions, squandered much of that on risky, boneheaded business ventures and repeatedly washed himself clean of crushing debt by stiffing his creditors, and then emerged to continue his pursuit of trophy wives, gold plated toilet seats and pink marble is not anyone's model of 'frugality and hard work.' Our tax code facilitates the accelerated concentration of wealth in the hands of fewer and fewer people based on passive investment and speculation. The carried interest scam, for example, remains untouched by 'tax reform,' while graduate students will pay income tax on tuition waivers and public school teachers will lose their token deduction for the out of pocket cost of construction paper and library paste. 'Capitalism' lifted many boats post-WW II. 'Reaganomics' and the supply side myth spelled the end of all that.

  23. When the Berlin wall fell, I said out loud: "That's it there in no competing ideology, It's going to be Capitalism Uber Ales". And I have been living an austere life ever since. I am pretty much untouchable now. And when the revolution comes, I will switch sides again. Ah capitalism!

  24. It is the extremes of capitalism that are the problem. Unfortunately, the extremes work well for those at the top. They more they get, they more they successfully hijack the system to get even more. Eventually there will be consequences: think French Revolution.

  25. The most accurate description of Capitalism was penned by Edward Abbey: "Growth for the sake of growth is the ideology of a cancer cell."

  26. There is nothing new here: young people have always believed in a political and economic system that resembles the one they just emerged from: the family, which provides for them while they learn to navigate the world. Home life: from each according to his ability, to each according to his needs. They tend to become more hard hearted when they become the providers, and are competing against other family units. But the thing I want to see these young people do is vote, and not vote for some crazy fringe option: vote in a meaningful way. Otherwise, their disillusionment becomes a facile, self-fulfilling prophecy.

  27. Capitalism is the worst form of economy, except for all the others. It's interesting that the writer does t mention that under a global capitalist system, more people (in both absolute and relative terms) have escaped global poverty. Than at any point in history! This has been absolute success for the world's least fortunate. But hey, let's hear the complaining from those who were born with huge advantages (e.g., anyone born in the G13 country and especially in the US).

  28. It's very nice to pick on capitalism, but in fact we no longer have a capitalistic society. What we have instead is an oligarchy. Capitalism gets "out of whack" every now and then - like now and during the gilded age. When that happens, the financial system needs rational regulations not unbridled free markets. Unfortunately what we have by Trump and the plutocratic republicans is a drive to less regulation and less consumer protection. The oligarchic nature of the system will only continue to grow in this present environment. Not exactly a optimistic notion.

  29. This is simple. First, in unregulated capitalism (I am a capitalist, within reason), over time all of the resources, money and sources of industry will be under the control of a single entity or person, gathering like pooling mercury. Second, at any given point in time there is a fixed amount of capital, whether in the form of cash or industry. If X has more I will have access to less regardless of hard work or clever investment. There is only so much to go around. So, when trump's minions create a tax program that bequeaths the bulk of financial benefits to the upper 1%, there is that much less for the rest of us. It's simple arithmetic. A critical point will come when there is no turning back and a handful of greedy individuals will have the means to control the rest of us if we want to eat. Then the real 'Hunger Games' will begin.

  30. It's good to hear that younger people have this view of capitalism. And when they age about 20-30 or so years and they continue to see our environment becoming more and more ravaged by global warming and, after that, when they come to fully understand why all of this has happened--if they don't already (and they should)--they'll hate capitalism--and the present generation in charge--even more than they do now. But by then, of course, it will be too late.

  31. The rich think they are already spending too much and the poor think the rich aren't spending enough. Relatively, that's probably both true since rich people do have bigger expenses to begin with and they do hire many private professionals in their lives. Is it fair to ask them to give a lot of money in the form of taxes though? I'm not rich by any means but I'm trying to save money by living with parents (they are my roommates really), and extremely reducing my expenses and investing in 401k and a brokerage account. I don't intend to get married and have kids until I'm truly ready. I work with people who live paycheck to paycheck and had kids before they were 25. I do so much more than my peers and care about financial and personal health (exercise and eat right) and sometimes I think it's unfair that I'm getting the similar pay (while I do get to save a lot more). The rich probably think it's unfair so much in taxes as well. Personally I don't want rich people to be upset since they already control the government and we don't really have a democracy anymore. Our government officials really represent the donors that helped them get their jobs anyways. I'm at least happy that I can afford to live in America. European socialistic society seems to work right now compared to all the monarchy they overthrew but they're not much better financially now. Using a single currency in a big society like America or Europe doesn't really make much sense.

  32. If I had my way, the conversation wouldn't be "should we have capitalism or should we have socialism?" It would be "what strategies best suit the situation, and what's our end goal?" I'm no radical, or I didn't used to be. I don't think we need to seize the means of all production, or roll the guillotines out into the public square just yet. But I'm amazed how quickly we've forgotten how successful a carefully managed mixed economy was for awhile there. (At least for those allowed to participate.) And equally amazed at how little time is spent discussing what appropriate solutions - be they capitalistic, socialistic, or something else altogether - for addressing specific problems or achieving specific goals might be. Capitalism has proven very good at raising the standard of living for a lot of people and giving us lots of consumer goods and very very wealthy individuals. It's also been great at facilitating gross overconsumption, commodification, precariousness, and anxiety -- not to mention allowing everyone to externalize the environmental costs of everything, the results of which we're finally starting to truly comprehend.

  33. In finance, federal whistleblower protection still does not apply to the Federal Reserve. The centrepiece of reform, the Vokcker Rule, never fully implemented in banking. The supply of credit remains the exclusive domain of federally protected monopolies. In trade, we have theories that pretend to balance national accounts by treating all assets equally, as if there's some strange equivalence between funds residing in an onshore bank account for a few seconds and investments that increase the capital stock of the nation for property, plant and equipment. On the international front, best practices at BIS remain subject to national supervisor discretion, resulting in an international race-to-the-bottom in banking. Financial, trade and commercial administrators, the world over, fully captured and supplicating apologists for rent-seeking monopolists, more than a little happy to profit from international disorder. No one is in charge in international finance and global commerce. It's not just millenials that feel enough is enough. Time to end crony global capitalism.

  34. The author states that there is no coherent economic rationale for what the republicans are doing, but after reading the first half of 'Democracy in Chains' by Nancy Maclean, I believe I can see one. They are trying to undo progressive taxation schemes, remove all restraints on the ability of the rich to control our economy and our society, and to weaken any institution that fosters or enables collective action among those of us who are not rich to resist their power by using democratic institutions. And, they want to make it permanent.

  35. Unfortunately, even those who have attended college don't understand economics at the most basic level. A huge regressive "tax" on millennials is the zoning laws that artificially restrict zoning density, making land more scare thus raising housing costs. It is Democrats in NYC, SF, Boston, DC, that pass these laws that benefit wealthy landlords such as President Trump to the detriment of millennial and others. Many if not most college graduates do not seem to understand in any way the concept of wealth creation. Through automation there is additional wealth. The zoning density restrictions (as well as overuse of historic landmark status and overregulation) is called "rent-seeking" a concept first introduced by Political Economist David Ricardo in the mid-19th century. Rent-seeking along is a form of market failure or market inefficiency. Rent-seeking does not create wealth, rather it simply uses politics to steal wealth from one group (eg, millennials) to another (eg. wealthy landlords such as President Trump). Japan fixed the "rent-seeking" problem by passing a federal law that overrode local law reversing zoning density-restrictions. The result: in 2014, Tokyo built 140,000 homes compared with 20,000 in NYC and less than 90,000 in all of California. Read Economist and Financial Times columnist's book, also recommended by Freakonomics, "The Undercover Economist" for an enjoyable, brief, introduction to microeconomics.

  36. Republicans seem to want to turn the clock back to the laissez faire capitalism of the 19th century. In 1900, there was no safety net and life expectancy was 45 years. Over half the population lived in poverty. Reagan spread the myth that this was a golden age. I am convinced he learned history from Hollywood movies. Wages for ordinary people have stagnated since the late 1970s. The life expectancy of white males is starting to decline. There are almost no rich, successful countries with small governments. Change is inevitable.

  37. Can I suggest that Michelle Goldberg consult some sources outside her comfortable ideological bubble. This is just warmed-over Krugman. The principal flaw about the tax bills before Congress is that they preserve many anti-capitalist tax breaks, subsidies, handouts to trial lawyers and other special interests, etc. that are better called crony socialism than capitalism. But the House bill, in particular, does some good things. Goldberg might be daring and visit Greg Mankiw's blog once in a while. Take the cut in the tax rate on corporate income to 20 percent from 35 percent. Mankiw explains: "Many economists believe the corporate tax is a bad way to fund the government. [C]ompared with other taxes, it generates a lot of economic harm for each dollar of revenue it raises. Some economists go so far as to recommend that the tax on capital income should be zero." He goes on "Some may worry that a cut in corporate taxes would benefit only the firms’ wealthy owners. But that is not true, especially in the long run. Over time, lower corporate taxes would attract more investment in the corporate sector, increasing workers’ productivity and thus their wages." Not only that, but the plan is revolutionary in doubling the personal exemption and eliminating many of the tax breaks for the rich that festoon our tax code. The tax plan has flushed out the Democrats and exposed them for what they are -- the party that uses the tax code to bribe taxpayers with other taxpayers' money.

  38. Wasn't low turn out by millenials (who claimed to prefer the Democrats) one way that Trump won? Those non-votiing millenials didn't care who won the 2016 elections. Shouldn't they be serene about the Republicans' tax bill and Trump's policies?

  39. I would suggest that Millennials hate a particular form of capitalism, namely "financial capitalism." This is different from the "product-market capitalism" that brings about actual products and services - like iPhones, clothing, Uber, etc - all extremely popular with millennials. These are actual companies that create value. Financial capitalism, in the form of hedge funds, private equity firms, securitized debt, junk bonds, etc, differs. Financial capitalism began in the early 1980s by offering financial instruments which purportedly "add value" but do not create it. In reality, there is no value-added. I would suggest THIS form of capitalism is what rankles socially-minded individuals. Unfortunately, the millennials who are supposedly "the best and the brightest" at our leading universities flock to investment banking jobs: to be a hedge fund manager is THE millennial career goal!

  40. Capitalism certainly has its problems, but what is enabling the takeover of our country by the donor-class is the grossly outdated Constitution of these United States. California should have the same representation in the Senate as Montana. Really? Federal judges should have life tenure. Really? (that may have meant until age 50 in the 18th century; 90 today). The Second Amendment means that everyone, everywhere should have the right to purchase automatic weapons. Really? (This provision was written when muskets were the weapon of the day and was intended to prepare folks to serve in a "well-regulated militia"). Representatives should serve for only two years. Really? (Perhaps when they were citizens just doing their temporary civic duty, but not when they are professional politicians having to constantly "dial for dollars"). A President a President for 4 years (and likely 8) with little practical way of removing him (not her as yet). Really? (The British system is MUCH better on this score. And so on. Our present misery is the outgrowth of a system that has largely outlived its usefulness. We need a new Constitutional Convention, but given the people the old Constitution has helped put in place, we are highly unlikely to get one. Meanwhile, many of us are sidetracked by notions such as "We're the greatest nation on earth," so why change anything. We need to be MUCH more self-critical.

  41. The simple fact is that deductibility of SALT for Federal tax purposes is a subsidy for big government effectively paid by low tax locales.If, as residents of high-tax cities and states (such as NYC and CA) are always arguing, blue cities and states are "supporting" the rest of the nation, why are they now pushing back so hard against paying the true costs of government? They need to DEAL WITH IT, and accept the costs of (big) government they demanded!

  42. The high SALT states are all net donors. Eliminate SALT, and they will continue to be net donors. They are already paying more in than they are taking out, and now they will pay even more and take even less. New Jersey pays in 13,000 per person and gets back 10,000. How much will they get back when SALT is eliminated?

  43. Let's not give the Millenials ALL the credit. At 59, I've been a hater of capitalism most of my adult life. Anyone with eyes could see what's been afoot since Reagan - a ruthless pack of aspiring oligarchs were determined to plunder the American democratic system to enrich themselves and their enablers in the donor class. Anyone who was awake could see it. And they've succeeded. The ship has sailed, in no small part because that pack of greedy, treasonous wretches knew they could count on the arrogant, willful ignorance of a huge swath of the citizenry. Capitalism only works when there is at least lip service paid to counterbalancing its undesirable aspects. We don't have that in this country. Haven't for years.

  44. • It’s not just the occult magic of the market that’s enriching Ivanka Trump’s children while health insurance premiums soar and public school budgets wither. It’s the raw exercise of power by a tiny unaccountable minority that believes in its own superiority. You don’t have to want to abolish capitalism to understand why the prospect is tempting to a generation that’s being robbed. I'm getting to like you more and more, Ms Goldberg. You've quickly become a favourite among the few.

  45. Maybe millennials are smart enough to understand that close to half of the citizenry pays no income taxes. They’re probably also smart enough to know that if you cut taxes, the benefit goes to the people who actually pay them.

  46. Socialism saved capitalism, again, in 2008 under George W Bush's TARP, the Troubled Asset Relief Program. There'd be no Capitalism without Socialism. Question, was giving away land to railroad magnates back in the day capitalism? How about establishing the Internet and building the transistor, were they capitalism? How about subsidizing farmers to grow the food we eat, is that capitalism? How about "defense highways," even "defense" itself, despite Blackwater, is that really capitalism? How about building a nation off of the free labor of Americans of African descent and Native Americans, is that capitalism? Capitalism, Socialism are all given to CRONYISM, which is to ensure who gets paid, pick winners and such. There's no separating us from that fundamental aspect of who gets supported to build wealth and for whom. Call it all capitalism for what I care. We need a maximum wage in this country! Instead of reducing the estate tax, we need to double, triple, quadruple it. Heck, charge more estate tax in lieu of income tax. The dead don't spend money and those who inherit it DID NOT EARN IT (talk about spending on your women and booze!) I'm so upset -- I bought a modest home in 2009 that has continued to LOSE value yielding no equity -- and now they want to take away the little advantage I get in taxes! So much for planned renovations I've been waiting over 8 years to afford!

  47. Capitalism is not the problem. Competition is one of the best things about Capitalism giving us great products like the iPhone. Crony capitalism is the real issue. When the large players make it impossible to compete with them it lessens competition and gives them an unfair advantage for products that are mediocre. These large corporations can donate unlimited amounts to politicians who do their bidding in Congress. Solar can't compete with coal when coal is given an unfair advantage with tax breaks. A recent example of crony capitalism was seen during the housing crisis. The banks were bailed out by the taxpayers since they were too big to fail and homeowners lost their homes. I agree that many individuals took on more debt than they should have but the banks were over leveraged but didn't care. They knew that depositors were insured by the federal government (meaning taxpayers). In addition, the ratings agencies, such as Moody's, gave triple A ratings to funds that knew were risky and loaded with CDOs. (Read, "The Big Short") Many people don't realize that large pension funds are required by law to invest in only triple A funds. But, these pension funds lost money because the ratings were bogus putting the taxpayers on the hook for bailing them out. The ratings agencies are paid by the funds themselves which is a major conflict of interest. The irony is that crony capitalism is really socialism for the wealthy.

  48. "It’s the raw exercise of power by a tiny unaccountable minority that believes in its own superiority." "The Trump era is radicalizing because it makes the rotten morality behind our inequalities so manifest." Brilliant, Ms Goldberg. You've captured the Ayn Rand ethos in two sentences. It never occurred to me that this is the fulfillment of "Objectivism" until I read your piece. Thank you. Great writing.

  49. I’m just amazed – and incredibly thankful – that this event was allowed to take place. Antifa or angry students would have declared any defense of capitalism as hate speech and shut down this debate on many of our college campuses.

  50. Socialism is nothing more than insuring that society works for everybody. It is the most effective means of insuring the common good. The common good as a concept appears to have been lost in this country and I believe it was abandoned when people of color began demanding the same rights as the white majority.

  51. • The anti-Communist Victims of Communism Memorial Foundation was alarmed to find in a recent survey that 44 percent of millennials would prefer to live in a socialist country, compared with 42 percent who want to live under capitalism. My first question would be do people in the United States know the difference between totalitarian Communism and Socialism? I think not.

  52. Interesting that Marie-Antoinette is mentioned, who was executed by guillotine in the French Revolution. Because we are facing a coming revolt, as much as France did in the late 18th century. Our job must be to make sure that revolt happens through democratic structures. That job begins in the 2018 elections, when Americans will begin to retake our country from its surging class of oligarchs.

  53. Not just millennials. This 69 year-old is just back from the Faroes, a socialist country where the ethos is the pride they take in taking care of eachother. If I were younger, I might move there. Imagine - a country where there is community, mutual respect and care, and far, far less distance between the (relatively) poor and the (relatively) rich.

  54. The Republican rob-the-poor tax law is a good thing, because it brings the revolution that much closer. You can go back to Aristotle on the causes of revolution to see that the reaction to this inequity will be a revolution. If it will not be done at the ballot box, it will be done in the streets.

  55. This is austrians vs marxists on the future of economics redux. Why dignify a debate between two nutjob positions as though it covers the entire subject? Oh but this is 2017 in which we have Cruz vs Bernie on tv representing the entirety of political thought.

  56. In free-market capitalism, capital generates income for the owners of the capital which in turn is used to create additional capital. This is very good. Sometimes, it can be actually too good. As capital continues to accumulate, its owners find it more and more difficult to deploy it efficiently. The business sector generally must interact with the household sector by selling goods and services or lending to them. When capital accumulates too rapidly, the productive capacity of the business sector can outpace the ability of the household sector to absorb the increasing production. The capitalists, or if you prefer, job creators use their increasing wealth and income to reinvest, thus increasing the productive capacity of the business they own. They also lend their accumulated wealth to other business as well as other entities after they have exhausted opportunities within business they own. As they seek to deploy ever more capital, excess factories, housing and shopping centers are built and more and more dubious loans are made. This is overinvestment. As cash pours into banks in ever increasing amounts, caution is thrown to the wind. For a while consumers can use credit to buy more goods and services than their incomes can sustain. Ultimately, the overinvestment results in a financial crisis that causes unemployment, reductions in factory utilization and bankruptcies all of which reduce the value of investments..."

  57. "The rich people who would benefit from the measures passed by the House and the Senate tend to be older (and whiter) than the population at large" Makes perfect sense because the people who vote are... older, richer, and whiter than the population at large.

  58. The market mechanism ( capitalism) can be a great tool for deciding what to produce, how to produce it and who gets what is produced. Problems arise when those decisions are influenced by forces that give inordinate power to one or more of the factors of production- land, labor or capital. Today capital has way too much power and this is reflected by the current distribution of income and the fact that the legislatures, which set many rules, are in the pockets of the owners of capital. The tax bills reflect this imbalance. This problem will not abate until, as before, an economic collapse occurs and the public demands some kind of restructuring, We don't do revolutions anymore so it is going to be a long haul.

  59. Look, there's one solution. Vote. If you don't vote, you can't complain (although I don't know where that leaves me... I voted and am as unhappy as all the other commentators).

  60. Time for capitalism to go . Young folks don’t like the stench of it. All empires end. With Trump at the helm, it is quite fitting to bid adieu .

  61. Let's be clear, the Tax Scam Bill may be written by Republicans and their proxies in Goldman Sachs and hedge fund offices but Democrats also receive a large handout from these upper 1%. Capitalism, the oligarchs who run and support the system will not rest until they take away every benefit that adds to their personal tax burden. There is no "us" here. If you think hard enough it is the rich that are the takers. They produce very little that trickles down to the larger economy. This will not end until the entire country is bankrupt. And that will happen soon enough once this Tax Scam Bill is fully implemted. The poor will rise up once they see their meager benefits eliminated. "sorry we have no money" will be a slogan that will doom the country. And it will be up to millennials and us old folk to rise up, tear apart the capitalist system and create equitable, meaningful society. No time to lose. No time to be reactive. Everyone must resist the passage of the Bill in order to preserve what little is left of America.

  62. I'm in my 40s. That makes me a Gen-Xer. I've worked hard. I've done all the 'right things.' I've achieved an upper middle class income after years of struggle to get there. I'm genuinely 'comfortable' - yet far from 'rich.' And you know what? I'd trade this system that's moving toward more pure greed, untamed capitalism and potentially even oligarchy in a heartbeat for something more far more socialist. Even the upper middle class feel like we're only a medical problem, family death, or unfortunate circumstance away from complete poverty. This way of doing things is no longer worth it. It's inhuman and will unravel -- as opposed to contribute to the growth and development of -- society.

  63. I think this tax bill is not just a gift to the filthy rich. Conversely, it is, at its core, an attack on "American dream" of upward social mobility. We have known this concept to be under attack in our country for decades (compared to more egalitarian Western European nations) but this tax bill is just another huge step toward decimating any trace of upward mobility we had. As a country, hasn't US prided itself on being a merit-based society where the ablest and the smartest, the most hardworking had a decent shot at significantly improving their station in life? With public school funding now dwindling, publicly subsidized healthcare for children of low-income families being ripped away and their parents' incomes going down thanks to this tax bill, where will our best and brightest be 10, 20, 30 years from now? And what does that mean for the economic future of our country?

  64. Many Russians who have very few means are nevertheless very proud of the name that Russia has in the world. The status of a country counts with men and women everywhere. As democrats complain about the loss of income and health for the poorer people, it's important to understand that glory, name, dominance comes from funding the rich. The private schools, private satellites, private spaceships, private scientific research are making America greater. Many Americans will therefore feel a swell of pride at all that America is becoming thanks to the billionaires. They may be poorer, miserable, and live shorter lives. But to many, like many Trump followers, the price will be worth it.

  65. The article starts with a premise that Millennials are more in favor of Socialism and Communism and less in favor of Capitalism than other groups of Americans such as boomers. It provides some substantiation for this citing some opinion surveys. Then it veers off the topic by conflating Capitalism with the specific tax policies by the current administration. One does not need to be anti-capitalist to have concerns about changes in tax policies or even those policies and tax laws that are currently in place. I would be very interested in what Millennials and other demographic groups think about the roles of: private property rights, access to capital for private use (such as starting businesses or buying homes), regulatory burdens (and benefits) to starting and growing businesses. Would the Internet and the information services that we are using right now have been able to be created and evolve in a controlled communistic economy? I doubt it, but significant parts of the Internet were created and grown by efforts of individuals and companies and organizations from Nordic and European countries with much stronger social safety nets (and that are frequently referred to as more Socialist). However, as far as I know even the most Socialist of European democracies subscribe to the core tenets of a capitalist economic model.

  66. My father died in 2001, before the estate taxes were relaxed to today's rate. He was a (very) small business man, and a freewheeling investor. His estate approached the one million mark, briefly, before cancer drove up costs then cost him his life. Six months later I wrote the biggest check I've ever seen, for $98,900. This was the tax levied on his final estate, valued at under $700k.. Today the first $5.5-$11 million are exempted. My family is considered wealthy by some of my friends. With his 1-man business my brother clears @ $50k. My similar salary won't fund a 1 bedroom apartment near my office. I drive a 9 yr old car. And I don't think raising my taxes or endangering my Social Security are a good idea. I wonder how many people in my modest boat really do.

  67. Forget the tax deal. Look around you. See any good paying jobs with amazing benefits? A home of your own? A salary on which to live comfortably with enough left over to save for retirement? A family that you can support? A coastal city to settle in that won't be flooded? Walt and June are both dead. Wally and the Beav are retired in Florida and Eddie Haskell is in the White House. I'm old and glad of it!

  68. The millennials, boys and girls, their parents, grandparents believed in Bernie. However, here's how the baby boomer generation were misled. Highly paid consultants of Hillary's campaign, "Rosen and Reinish repeatedly attacked Sanders in the media and online. In October 2015, Rosen wrote an op-ed for The Washington Post savaging Sanders on LGBTQ rights. In January 2016, she gave an interview with the Post in which she criticized Sanders’ record on women’s rights. In April, she characterized his supporters as sexist bullies on CNN. After Sanders endorsed Wasserman Schultz’s own primary opponent, Rosen called the senator “a petty jerk” in an email with DNC communications director Luis Miranda."

  69. I'd be curious to see how those millennial stats break down in terms of race and class. The anti-capitalist youth seem largely white, middle-class, and educated.

  70. The 44% of millennials who want to live in a Socialist country should get their noses out of Facebook, Instagram, etc. for a few minutes and read about Venezuela. Food shortages, electrical blackouts, lack of medicine,... Misery. When done with that start in on North Korea. Regular North Koreans are sent to work as slave laborers on infrastructure projects in Russia and China. The workers get paid nothing. The Russian and Chinese governments pay the "wages" directly to the North Korean government so they can build missiles while the people starve. Be careful what you wish for.

  71. What we are seeing is the restoration of ante-bellum southern morality featuring adulation of rich plantation owners, paternalistic and racist Christianity, and disdain for working class people. Lincoln's civil war was a battle of corporate interests vs southern agrarianism. It appears that today's southerners have adopted corporatism and fused it with their own narrow cultural biases. Welcome to the nation ruled by Banana Republicans.

  72. Can anybody give us directions to the US equivalent to the St. Petersburg Winter Palace? We want to pay it a visit . . .

  73. Remarquable article! A peaceful revolution might be the only way out of that obcene mess.

  74. I'm nearly 70 and hate kapitalism, too. Does that make me a millennial? Or does one's lying or having a cellphone do it?

  75. I'm an older white woman, and I can plainly see how capitalism has mutated into a monster that preys on consumers. While "elections have consequences", those consequences are generally accepted to be some modest changes, not total destruction and looting.

  76. Socialism needs a new name to remove the stigma of the past. Efficiency in numbers Group Deals Something so the ignorant uneducated understand the concept that we will all get better education, health care and quality of life in general if we pool our money and resources.

  77. Rather than a purely socialist or capitalist system a fairer arrangement is one we used to effectively have, a hybrid where hard work was respected, even if in wage earning jobs, but the opportunity existed for those with entrepreneurial spirit to pursue their fortunes. But that utopian deal went south when corporations and other moneyed interests were allowed to skew the system with their cash to gain more favorable treatment of their interests. So now we have one party (GOP) that apparently has zero regard for regular workers' economic interests and does everything possible to please their corporate and "small business" donors. The real questions are how did we let it our capitalism get this warped and what do we do about it?

  78. Did you vote?

  79. A government can take so much corruption before there is a popular backlash. Who really owns government? The GOP say them and their donors do. There will be a swing to the left and it should be paid for by a ‘deficit tax’ on the supper rich raising the tax rate to 80% until the deficit returns to 2017 levels. It happened in Germany in 1933 and in the USA in 2016, Hitler came to power with a race based ideology defining who could be a true German, He was financed by German industrialists and mine owners who hated labor unions, a class of young army officers, and plenty of Americans in Wall Street, and companies like Ford, GM, DuPont, IBM, Chase Bank because they all believed they could control Hitler and profit. Capitalism trumped patriotism during WW2, e.g., when Henry Ford, who published the periodical “The International Jew” demanded that the US bombers not bomb Ford’s factories which were making war materials for Hitler, The essence of Nazism was high taxes on Germans, long hours for workers and no civil rights because the Reichtag made Hitler and absolute dictator and when he had all the laws he needed he had it burnt to the ground. In less than 3 years Hitler, like Trump systematically reduced the to serfs. Our country is divided into 3 groups:(1) a powerless majority which is only heard on election day (3) garden verity fascists: and (3) American Nazis, who control the executive branch and is systematically destroying American values and the rule of law.

  80. I wonder how much the tickets sold for for this anti-capitalist event. Bitter taste of irony.

  81. Someone ought to require senators and congressmen and women to read Jonathan Swift's "A Modest Proposal." Why don't we just fatten the babies and then butcher them? That way we wouldn't have to support them or their parents, who'd make a pretty profit off their slaughtered children. For God's sake, who are these people who are supposedly representing us?

  82. Senator Chuck Grassley, what a fine, fine example of leadership. Thank goodness he's not in charge of a boy or girl scout troop . . . or worse, a school teacher.

  83. In these evil and distressing times under Trump's administration I have some optimism that the younger generations will save our country once my generation is gone (I'm in my 70s). The young are less racist, less homophobic, less greedy and less intolerant of other religions. I just wish I could live to see America become America again and see the young not be afraid to borrow the best ideas from other countries even if they are labeled socialists.

  84. Ms Goldberg -- regarding your comment: "Nowhere is that clearer than in the wretched tax bill passed by the Senate in the early hours of Saturday morning, which would make the rich richer and the poor poorer. According to the nonpartisan Tax Policy Center, the bill directs the largest tax cuts as a share of income to the top 5 percent of taxpayers." Wretched? News flash -- to benefit from a cut in taxes, one has to pay taxes. We already have the Earned Income Tax Credit that gives low earners other people's money. It's not the government's money. There is nothing objectively wrong with allowing individuals to keep their own money. People who earn pay the bill for the remainder of the population. To wit: - In 2014, the top 50 percent of all taxpayers paid 97.3 percent of all individual income taxes while the bottom 50 percent paid the remaining 2.7 percent. - The top 1 percent paid a greater share of individual income taxes (39.5 percent) than the bottom 90 percent combined (29.1 percent). - The top 1 percent of taxpayers paid a 27.1 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.5 percent). These may be inconvenient facts, but they are facts nonetheless.

  85. "Capitalism sows the seeds of its own destruction."

  86. Anyone who knows the most rudimentary history, economics and human behavior and is not blinded by an ignorant ideology has long realized that a careful blend of "capitalist" and "socialist" policies is necessary for a relatively prosperous, well-functioning society. laissez-faire and deregulation has never worked.

  87. Let us remember that before the Soviet Union turned into Josef Stalin's personal killing filed in the 30s and 40s, many in America were sympathetic to communism, then thought of, by them, as a fairer way of doing business. This was occasioned by the stock market's failure in 1929 (not capitalism's) which led to the Great Depression. Today, after the Recession of 2008, also caused by a massively deregulated Wall Street, many conflate capitalism with a plutocracy. And hence the Social Contract has been breached. Too many benefits flowing toward the rich and too few to the poor and working masses.The NY Times just showed how a couple earning $100,000 per year barely qualifies as middle class. And so we are arriving at the doorstep of class warfare, to be followed by recriminations, witch hunts and further political dysfunction. The GOP has been disorganized for quite a while, but they just pulled off a tax bill which will lead to a significant reduction in social security, Medicare, Medicaid and delays in the funding of infrastructure, hospitals, schools, airports, water supply systems, electrical grid and cell phone towers. We are about to repeat the history of the 1920s and 1930s.

  88. White supremacy and capitalism have doomed planet earth--the latter being a particularly idiotic economic concept, mindlessly imposing infinite growth on a finite world.

  89. Disgust for these hypocritical, old (white men) is all I can feel. Within 2 to 3 months I expect to be seeing references to "welfare queens" again.

  90. There is so much that is hateable about this article - but first and foremost the writer desperately needs some education about history.

  91. OK, you 44% millenials who would prefer to live under a socialist structure, here's your chance: don't whine, VOTE.

  92. Michelle Goldberg is again demonstrating her shallow knowledge of what her forebears do and do not believe and what they have believed in the past. But this is how she makes her living: When she isn't chasing clicks and media appearances by being the first to call for someone's resignation, she's busy blaming all that happens to her on the older generations. Michelle, I bet you never went to a rally where they threw a brick and then a firebomb through the Bank of America window? Or had a large contingent of Maoists complete with red books? How about a protest over the killing of Che Guevara? You don't know jack about what older people believe about capitalism, and as far as I can tell, when you need to have that knowledge for your latest column, you just make stuff up. No wonder you get on TV for calling for Al Franken's resignation and then pretend that you're more mature and thoughtful and nuanced than all your supporters and compatriots by saying you think "Zero Tolerance" needs to be rethought. Your tactics are identical to those of Rush Limbaugh, and reflect zero ideals and a desire to hop on anything out there to benefit yourself. The New York Times can do much better than wholesale hiring of bloggers off of Salon and The Guardian, and it shows.

  93. I hate these Republicans crooks. Their evil greed is hard to fathom. It's time for a socialist revolution; hopefully of the peaceful political kind. Capitalism, as it exists today, is a malevolent force for the destruction of the social fabric of America. Cake anyone?

  94. Grassley and Hatch are talking to you Trump you agree with them?

  95. There is no capitalism in the US. The system has a name, it is fascism. Society run for the benefit of an unelected oligarchy, justified by appeals to the racial interests of the Volk.

  96. Dear Writer, Descent from a capitalist way of thinking is not unique to your generation - ask any proto-hipster of GenX, suspicion of Capitalism was born in the 1980s and fueled more than one strain of the punk era. Crowing your generation as “unique” is short sighted and roundly inaccurate.

  97. It isn't capitalism. It is fascism. Made even worse by suckers in a so-called democracy who have fallen for the "culture war" mentality and voted for people who are robbing them blind. All in exchange for a stinking hat.

  98. Hey, let's checkout Venezuela as a possible alternative.

  99. Communism as its name directly indicates....promotes communal living. Thats an old-time hippie ideal. The hippies spawned the millenials. Hippies, living off the fat of the land as Boomers, morphed into Yuppies.....The first batch of thier offspring, we called "hipsters".....then as more and more came of age.....Millenials....the pioneers of a Networked Society, hypnotized by omnipresent instant communication with the entire world, packaged as "individual", but in reality, controlled by Central Scrutinizer software(Google, Facebook, LinkdIn, etc). The Internet in the hippie utopia is "Free", and "private", and "individual"...........but the start reality is more like China.........a very effective tool of monitoring behavior and controlling thoughts. Flash Mobs. Thought Crimes. PRISM. Database Hacking. Traffic Cams on every street corner. George Orwell couldnt have called it more accurately. China is still a communist society. The USA has deluded itself into believing "China wants democracy and capitalism". We dont recognize that Capitalism and Communism are both relics of a Past Age..... .Capitalism is geared towards a rapacious exploitation of an unregulated resource...the Internet. While Communism is geared to using the Internet to control the masses.. Neither ideology is prepared for the 21st Century.

  100. Ah, the old joke: Capitalism has finally defeated Communism!!! And now it can make a run at Democracy!!!

  101. I wish they would start voting and running for office. I am tired of old white men running things with their tired old ways.

  102. “What we have achieved in this country is socialism for the rich and free enterprise for the poor.” Gore Vidal "The CEO/management class is empirically shown to have 400% more psychopaths than would be encountered in a random crowd of Americans on the sidewalk." The Psychopath Test by Jon Ronson

  103. Alexander Harrison understands Ms. Goldberg's motive in appealing to the young to further her career,--"Je vous ai compris Madame,"but to ask milennials, who know more about their SMARTPHONES than they do about economic and political history is hopeless. Example comes to mind of Sanders's backer when asked by t.v. reporter to define socialism, scratched his head and replied,l "boy that's a tough 1. Hope no one at home is watching. Likewise for "Antifa's" who, if asked to identify Gabriele d'Annunzio, true father of fascism,"would be stumped, or if asked how Huey P. Long's "share the wealth" populism or that of Pierre Poujade differed from fascism, would be unable to answer.Human nature being what it is, those who say they hate capitalism have never been tempted."Cogito ergo sum" wrote AH's role model, Rene Descartes, and it is indisputable that no one has ever been offered a jpb by a poor man or woman.Lack of appreciation of economic theory and political history is today universal. Once said to a French woman that I knew followers, former Vichyites, followers of Marechal Petain. Interlocutor, flummoxed, asked if "hero of Verdun" was leader of a rock group.1 does not find bookishness among millennials,regardless of country. French schools have even eliminated circonflex accent because students, especially those of immigrant parents whose first language is not English, find it unnecessarily confusing.How many in the audience had heard of Adam Smith or David Ricardo?

  104. "Fascism should more appropriately be called Corporatism because it is a merger of state and corporate powers."- Benito Mussolini

  105. Now let me understand this..... the Confederates actually did win the Civil War.

  106. Millenials need to get out and vote!! Don't let your cynicism, or your disappointment about Bernie, blind you to the fact that yes, Republicans and Democrats are different animals.

  107. I can't wait for this generation to wither from the vine. This group of entitled white men continues to rear its ugly head destroying everything. When will they be gone? And why and how do they continue to have so much power? It's time for the millenials to replace them. I'm looking forward to some new ideas before the last guttering gasp of these corrupt and corrosive men takes us all down with them.

  108. Dear Michelle. How about a couple of columns dragging James McGill Buchanan out into the light and highlighting his connections with this mess...especially with Charles Koch? Time to bring the discussion out of the confusion of details and down to the starkly understandable fundamentals.

  109. I read this article (based on the headline) hoping to learn something. It is just a rant about the tax bill. Not sure why the teaser about the debate when it never returns to that opening. The comments are more valuable and interesting.

  110. I guess you don't have such a great regard for Jeff Flake anymore, seeing as how he voted for it.

  111. Paul Ryan and Mitch McConnell are doing more to enthuse people for communism than Che Guevara could ever hope.

  112. Democracy has been long dead in this country. We are a Corporate Fascistic society today. Something we have yet to recognize or admit.

  113. Wall Street/The 1% are the biggest “welfare queens” in history. Inherit a few million. Hire a capable investment manager. Write a few checks to buy the law. Sit back and enjoy. Hearing these people whine about “hard work“ and “frugality” is disgusting. THEY are ticks on society. Parasites. : ) L

  114. I suppose it's natural that with a capitalist system run by goons, some look favorably on socialism. And with a socialist system run by goons, some look favorably on capitalism. Both systems seem to have channels for goons to rise to the top.

  115. Wow, 900 people showed up for a debate in Manhattan. In Manhattan, you could get 1,900 people to show up for a Jerry Lewis movie -- in French.

  116. Call the GOP tax bill for what it is and don't mince words: It is a financial rape of the middle and working class by the rich. And they're getting away with it.

  117. So, who won the debate.

  118. Its always easy to spend other's people money ! Having said that, I believe our way of capitalism serves too few people, All the riches go to the few people. For an average Joe, healthcare cost is out of whack, college costs a leg and in 20 years or so when they retire, SS fund is depleted.

  119. "A joke on the streets of Moscow these days: 'Everything the Communists told us about communism was a complete and utter lie. Unfortunately, everything the Communists told us about capitalism turned out to be true.' " -John Nellis, World Bank

  120. They sure worship Steve jobs. Uber capitalist.

  121. Perhaps milleneils might consider voting in off year elections.

  122. Another good one. I like how you linked the selfish statements. I haven’t seen that anywhere else.

  123. It's all so grotesque. But the Trump states will reelect scores of their malicious Republicans.

  124. The millenials may not like capitalism. But what is clearly happening is the division between the haves and have nots is being widened and cemented in place. But that creates a problem because it also creates a much larger lower class. A lower class that will certainly get to see their stairway out of the cellar has been permanently cut off. Job's? So when the anger rises from below, Republicans redirect that anger to the other cellar dwellers. Clearly their supporters have agreed. They would rather give their money to the wealthy who don't share rather to their co-residents in the cellar. How is what Grassley and Hatch said any different from "Mexicans are thieves and rapists" ? But I have news for those white, arrogant cellar dwellers. When you kick the others in your bottom tier, eventually they will get angry. And kick back. Trump said it so eloquently. When you have nothing left to lose, you have nothing to lose. And they can clearly see who is not on their side. And remember Trump supporters. The door out of the basement is being locked. You will reap what you sow.

  125. Entitled millennial whiners indeed. Believing that they're entitled to an affordable education just because they're good in school. Believing that they're entitled to employment just because they're qualified and willing to work hard and they want to pay off their student debt. Believing that their entitled to a government that's responsive to everyone's needs. Believing that women, people of color, and sexual minorities are entitled to be treated as human. Believing that they're entitled to a livable planet. What a bunch of whiners. As a boomer, I have to say I love millennials. Entitled? Much less than Gen X, or even us. I trust millennials to work through this Socialist thing and reach some synthesis much better than what we've managed to construct (I mean, have you seen our current government?) Can they make it manifest? We can only hope.

  126. Millennials are generation Girlboss, Y combinator and Startup Nation. They also are far more likely than Gen X to say women should stay home and men should make the decisions (as reported in NYT) What exactly is telling you they are anti-capitalism as a generation?

  127. So you hate the new tax bill because it gives too big a tax break to the rich. Or because it increases the taxes for the rich by taking away their high state tax deduction. Or because it raises the flow of their money into charities you don't like. Or because it will reduce the tax receipts to charities you do like. Or because they will get to hold onto more of the money they earn, thus "robbing" you of money you say should be yours. Let's face it. What you really hate is that Ivanka is tall and beautiful and smart and successful, and you're not. At least, not yet. But comes the revolution, and you'll get to feed without limit in the public trough, which is what Marx and Lenin and Stalin and Ceaceuscu got to do.

  128. I beat the drum about this frequently in these comments sections, but Michelle's quotes from our delightful oligarchs have me pounding it again. These people are not just capitalists--their words indicate they are super capitalist Calvinist/Social Darwinists, and that's where the real problem lies. Calvinism, you may recall, was an austere offshoot of the Protestant Reformation that opined that one is judged worthy of Heaven--one is a member of the Elect--through evidence of God's smiling providence here on earth. In effect, if one is successful here on earth, if one is prosperous and materially blessed, then obviously one has been favored by God. And if one is not prosperous/materially blessed, one is obviously NOT favored by God. The logical extension of that is the poor do not deserve charity or compassion, as they are not worthy of heaven anyway. If they were, they'd be rich, or so the circular thinking goes. It's not hard to see how this leads to the mentality among our "Elect" of "if you're so smart, why aren't you rich"; "if you're not rich, it's your own fault---you're lazy/stupid/inferior, and why should I give up anything of mine for you", etc. And it's really easy to characterize anyone of a particular race, ethnicity, sexual orientation, nationality, etc., as unworthy. It is interesting that the many of the countries in which this philosophy originated--Switzerland, the Nordics--pretty much rejected it, and became more "socialist" in time.

  129. Nicely analyzed. Capitalism, especially when unregulated, is as bad if not worse that communism, an impossible dream for the majority of people under it's thumb. Promises unfulfilled; the persistent enrichment of the wealthy by exploiting the poor; the buying of elections in this pseudo-democratic society has become the norm, depressing enough to make voters stay at home for previously cooked results...even before Gerrymandering. And now comes an arrogant hypocrite Orrin Hatch (and Chuck Grassley is not far behind) insulting the poor for not lifting a finger for their own benefit? How could they dare drive the conversation into the toilet, when it is a public secret that the poor have no political say (money) whatsoever to get out of their invisible status of despair? Republican depravity is no different than vulgar Trump's ugliness of disregard towards anyone but himself. What's would be wrong with a social democracy, where our strength is measured not by the fat pigs up there but by the least among us? What's wrong with sharing the pie more equitably? Has solidarity, and prudence, and decency, lost it's meaning among us, at a time when license has replaced freedom, and justice just an afterthought?

  130. Belief in high personal responsibility and high personal freedom refutes nearly everything in this article. Maybe you don't want or like those 2 things. But tens of millions of American do. Hence GOP runs 2/3 of America.....not the Land of Welfare....but the Land of Opportunity.