Democracy or Capitalism?

I recently read an article (here's a similar one in the NYT for my non-francophone friends) about the Greek Prime Minister's decision to give the people a referendum on the IMF reforms that are being imposed. He has decided to let democracy decide what will happen in Greece. The European leaders (and banks) are very scared that this referendum will end with Greece refusing the money (and the severe government austerity measures associated with the loans). Basically, if Greece does this they will be leaving the Euro zone - and so calling into question the viability of other countries (like Spain and Italy) staying in the Euro zone with their high GDP/Dept ratio.

This is a very serious situation. I do not mean to take it lightly. I don't know that this referendum is the right decision. I do think however, that this referendum is highlighting the clear difference between Capitalism and Democracy. When you have wealth (and therefore power) concentrated in the hands of the few only their interests are served. The people, in Greece, and everywhere are screaming out for real democracy and representation. In the US, we stand with Greece. We are against the austerity measures that our local, state and federal governments are imposing on us. Some government spending in out of control, but the more important side of the equation is the revenue side. Corporate taxation levels have fallen all around the world over the past 30 years. We no longer have the revenue to support the needs of the people. Instead of increasing this revenue by taxing large corporations and the very rich, governments all across the world are reducing services. Reducing services literally makes people go hungry, become homeless and die because of a lack of adequate health care. Increasing revenue will not kill companies. (It might in fact help them because the workers would benefit from the provisions of the government and therefore be a more productive work force.) Yet profit of multinational corporations has become the marker of a "good government" instead of how well the lowest in the society live.

We need to reclaim our government as a government by the people and for the people.