Banks Block Walmart
One thing I have to say about the political system, and capitalism it is nonsense to believe there is a free market system. What exists is gross manipulation of the political system by wealth to protect wealth at the expense of the masses.
I was just reading Mish and he mentioned Walmart wanting to open a bank and being prohibited. Walmart opening a bank would probably result in affordable ATM withdrawals. It is absolutely not in the public interest to have banks constantly skim and extract so much wealth for merely pushing paper around.
Technology has increased, labour inputs in banking have dramatically decreased as machines do work people used to, yet costs for banking have gone sky high. BS that this is a democratic process.
Political contributions should not be tax deductible. This measure would at least put a bit more power into the masses because saving $50-100 in taxes for Joe Little Guy isn't going to make much difference for Joe Little Guy. Mr Corporate Bully on the other hand doesn't have the masses funding his bullying through tax deduction that save him $50k or $100k or basically a whopping percentage of his "donation." This is a system of taxpayers paying for political bribes that generally screw them over.
Or, better, put a lid on the tax deduction from a political contribution, at say $100. This way it serves the masses that are involved in the political process, provides equality in the amount of free influence, and Mr Corporate Bully at least pays for his bribes, not tax payers.