Restrict Governments from Borrowing from Private Moneylenders

The demand that the rich be restricted from profiting from social programs is a big part of the struggle the working people are waging from coast to coast. An important aspect of this is to restrict governments from borrowing from private moneylenders. Another will be to demand that taxation on individuals and their personal property be eliminated. The conciliatory demand that taxes be increased on individuals who make more than a certain amount diverts attention from the essence of the matter, which is that the source of new value for governments to pay for programs is the productive socialized economy itself. Human enterprise accountable to the people should be an important source of government funds, along with proper realization by businesses of the value they consume from social programs and public infrastructure, plus government claims on a portion of the new value workers produce while working on the socialized forces of production.

The battle to increase investments in social programs and to stop paying the rich is constant as the working class movement activates the strength of its numbers and organization to move society forward to socialized relations of production in conformity with the modern socialized forces of production. The organized battle to defend its interests in the present at workplaces and throughout society prepares the working class to assume leadership of society based on a new pro-social direction for the economic, political and social affairs of the country in a nation-building project of its own doing.

Two trends affect the economy and every social movement: the working class progressive trend to defend the rights of all and move society forward to the New, and the imperialist regressive trend of the rich to expropriate maximum private profit from every cell of the economy and block any movement towards the New. These two trends express themselves constantly in economic, political and social affairs. The imperialists use their vast resources and control of the state to turn all economic, political and social affairs to their benefit and in the process recruit allies in the working class and youth to do their bidding.

The regressive trend can be seen in the control and use of working class savings and pension funds to entrench imperialist right over the working class and economy. A notorious example is the Public Sector Pension Investment Board (PSP) ownership and control of Revera Inc. The PSP is a federal Crown corporation that controls and invests the pension funds of workers in the federal public service, the Canadian Armed Forces, the RCMP and the Reserve Force. Revera Inc. owns or operates scores of seniors' apartments, assisted living and long-term care homes and other properties across Canada along with similar holdings in the United States and the UK. More than 55,000 seniors live in a property owned somewhere in the world by Revera, which also jointly owns homes operated by Groupe Sélection in Quebec and has a majority ownership stake in Sunrise Senior Living.

Many of those living and working in Revera properties have suffered terribly during the pandemic with some even passing away from the disease due to the socially irresponsible actions of the company driven by its aim for private profit. The PSP and Revera operate their businesses according to the imperialist aim of maximum profit from the exploitation of the working class in opposition to the aim of the working class to serve the people and society and defend the rights of all. The aim of maximum private profit has no place in any aspect of health care, which the pandemic has clearly exposed. The aim must be to serve the people and society and for increased investments in social programs to raise the level of the programs to whatever working people deem necessary and to block the rich from expropriating value.

Every social program fashioned under the imperialists has a pay-the-rich component, which the working class must continue to expose and oppose by demanding increased funding for social programs and to stop paying the rich. The Communist Party of Canada (Marxist-Leninist) as the party of the working class wages constant theoretical and ideological struggle to ensure imperialist theory and ideology do not entrench themselves to weaken and mislead the workers' movement in defence of workers' claims and the rights of all and for the New.

(Photos: HSAA, SEIU)


This article was published in

Volume 50 Number 46 - November 28, 2020

Article Link:
Restrict Governments from Borrowing from Private Moneylenders - K.C. Adams


    

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