@seankearney@mastodon.social
Capitalism cannot exist where there is #oligopoly/#monopoly. Economics 101.

Capitalism as defined by prominent thinkers also means govt protections from capital, to avoid and offset negative aspects, called #externalCosts or #externalities. That just hasn't been happening.

We've given multinational oligarchs power over effectively all aspects of life. Their fusing with govt, and cementing of power manifests more as fascism than #capitalism.

@11235@liberdon.com
We have reached a good understanding, it seems.

Yes income tax and "profits" tax are replaceable by a 15% land tax based on rental value. Income tax only came around circa 1915 after the "#FederalReserve" (read: seedy private interest cartel) was created.

10% GST on things that are not fresh #food and necessities (see #Australia's #GST) is also good. Buying #processedFoods and #manufactured goods has #externalCosts best accounted for separately.

@shebang @kaikatsu @nerdman @kino