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deepflows · 3435 days ago · link · · parent · post: How true is the statement "Privatise the profits and socialise the losses" regarding banks?
Well... Look at the way our tax systems are set up. If you haven't, find out how much in taxes large corporations, banks, private billionaires and so on are paying relative to their income and how they achieve that. Compare this to what happens if an average citizen doesn't pay their taxes properly. Compare what happened to the banks (universally acknowledged as having acted entirely recklessly) in 2008 to what happened to their home owning debtors. Noam Chomsky argues that we live in a system which offers socialism for the rich and capitalism for everyone else. I have yet to find a valid counter-argument.