Thursday, 26 January 2012
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Dr. Martin Luther King Jr. on Economic Policy
By Sam at Creative TheologyWhenever the government provides opportunities and privileges for white people and rich people they call it ‘subsidies.’ When they do it for Negro and poor people they call it ‘welfare.’ The fact is that everybody in this country lives on welfare. Suburbia was built with federally subsidized credit. And highways that take our white brothers out to the suburbs were built with federally subsidized money to the tune of ninety percent. Everybody is on welfare in this country. The problem is that we all too often have socialism for the rich and rugged free enterprise capitalism for the poor. That’s the problem.
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- From: SamMahlstadt
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Comments (4)
Very well said Doc!!!!!!!!!!!!!!!!!
If we accept the premise of this post, low interest loans are completely different than cash hand outs in the form of food stamps and housing.
A great deal of economic activity starts out being financed by debt. That's Econ 101.
But is that debt good or bad?
Good debt buys wealth producing assets like roads and gets paid back. Bad debt is simply consumption and produces no wealth. So when the government finances bad debt in the form of social programs is bleeds the economy and the Treasury dry and goes on the books as eternal red ink.
I don't look to the Vatican for advice on economics. And neither should we look to MLK. He was a community organizing leftist who knew nothing of capitalism.
@sometimestheycomebackanyway@xanga - typical honky always ranting off at the mouth, go back to your cave, you pathetic piece of trash. MLK has monuments all over the world, and your some honky online who dosen't have a job or life !!!! ANIMAL !!!
@DivaJyoti@xanga - YES, I wholly agree.