Socialism in Moderation Is Good for Capitalist America

Are We Brainwashed by Wall Street to Hate Socialism?

Are people brainwashed by Wall Street and Its Media to Hate Socialism?

  • Yes, Wall Street is attacking teachers and pensions and main street professionals for money.
  • No, we think teachers and pensions and main street professionals are bad on our own.
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Socialism is good in moderation. We have social security, which is a socialist program. We have medicare, which is a socialist program. We have progressive income tax, which is a socialist program. We have unemployment insurance, which is socialism. Capitalism would have trouble surviving if these programs helped to destroy the US consumer.

Karl Marx predicted the demise of capitalism, and yet, it is because of a bone thrown to the masses that social unrest is diminished and capitalism has the ability to function at its highest levels of profit.

Some have said that we have communism. However, we do not have communism, because in communism, there is no profit or any profit is taken by the communist party. In our system, the bankers got to keep the profits of predatory lending. There was a transfer of wealth, a massive transfer of wealth from the middle class to the wealthiest Americans in the housing bubble that crashed in 2008.

Our system is more fascistic than communistic. Fascism is when corporations have more control than the democratic process.

On Business Insider, I argued the case that we should have a wealth tax, for the good of the nation, coupled with a massive payroll tax. The top percentages of wealthy Americans control 80 percent of the wealth. If this keeps going they will control literally all the wealth of the nation. This is not healthy, and is a monopoly upon wealth. That is not good as the middle class fears its demise and refuses to spend. Eventually that hurts the richest as well. And it hurts the national security of our country.

Remember, the government builds roads. That is socialism. The government hires police, and firemen, and teachers. That is socialism. Privatization of those things looks good on paper, but this usually is not born out by practice. For example, charter schools are allowed to choose their students. Of course their stats look better than public schools.

But then we find out that Wall Street is hugely invested in charter schools and plants bad articles against public school teachers in the press that they own. The nation is victim of a giant private financial scam and Americans are falling for it.

Think about this: how many of you would rather drive on toll roads owned by private enterprise where you had to pay a fee? I think most of you would prefer our communal public roads and avoid the toll roads most of the time, if you can.

Wake up America! You are being brainwashed by the bankers and their libertarian zealots. The libertarians seek total deregulation, like taking umpires away from a sporting event, and then get mad when the sportsmen (the bankers), don't behave themselves!

We are pro capitalist, and are not socialists in the classic definition of socialism as a replacement for capitalism. But we want regulation which is socialism for the greater good, and some targeted socialism to temper the excess of capitalism and get the roads built!

Keiser Says Capitalism is Broken.

Public Schools Are Socialism According to Libertarians

Public schools are socialism according to the extreme libertarians. Keep in mind that while the Founding Fathers were influenced by the classic liberals, who were the foundational thinkers of what was to be libertarianism, they found no fault with public education. Public education existed in America in the colonies, prior to the formation of the United States as a government. There was no effort to ban public education by the founding fathers.

Public education is clearly socialistic, for the common good. Radical libertarians would choose to eliminate public schools as being opposed to personal economic freedom. But their freedom is an anarchist freedom, without personal responsibility.

Also, libertarianism is bound by the view of man that trusts mankind to do the right thing. Boy, how wrong were they. That is not to say that the ultimate in socialism, communism, the elimination of capitalism, didn't fail. It most certainly did. But capitalism will surely fail if socialism is not tactically applied, like to the institution of public schooling.

Chomsky on Markets and Capitalism

Capitalism must be regulated, especially in the financial sector. The regulation makes capitalism work better, and the socialism of regulation is good for capitalism. Without it we have puppies being poisoned by Chinese dog food and the like.

You want deregulation in food service? Pretty soon we will all be growing our own food and refusing to eat in restaurants. That would hurt capitalism wouldn't it?

Regulation of capitalism is what makes a functioning democracy works. It forces the companies to follow the rule of law, not the whim of a dictator.



More Chomsky. The Elite Hate Democracy

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Comments 8 comments

mperrottet profile image

mperrottet 4 years ago from Pennsauken, NJ

Great hub with some excellent videos to accompany the message. I also read your article on Ron Paul being a fraud, and I'm in complete agreement. I liked him somewhat because I agreed with some of the things he said. When I looked into him further, I found out that he wanted to completely deregulate everything, which makes no sense to me. I continued to investigate libertarianism, and came across Noam Chomsky. I realized that there is a huge difference between the Ron Paul variety of libertarianism and the social libertarianism of Noam Chomsky.

Ron Paul, unfortunately, has captured the attention of my grandchildren who mistakenly think that he is all about freedom and making drugs legal. They don't think about the fact that we really need to regulate capitalism in order to protect society. You make that point very well in this hub, and I'm going to like it on Facebook in hopes that they'll read it. Voted up, useful and interesting. I'll be reading more of your work.!


bgamall profile image

bgamall 4 years ago from Las Vegas, Nevada Author

Here is the thing about Ron Paul. He has a certain conviction that he is right. He is consistent. But I believe he is consistently wrong about regulation, wrong about social security, wrong about taxation. There is an historical privilege for the government to tax and help the poor, for example, arising out of the requirements in Old Testament Israel. I believe in separation of church and state, but I also believe that examples of mercy shown towards the poor showed that the libertarian argument against the power of taxation as being theft is totally invalid.


amillar profile image

amillar 4 years ago from Scotland, UK

Hi bgamall, I think profit and tax are very similar. It's all excess. But I'd rather pay tax to government of, by and for the people, than profit to fund megalomania.

I hear people like Max Keiser say that we should buy gold and silver to preserve our savings against hyper inflation. Is that really a good thing for people like me who know nothing about economics? What happens if governments confiscate the gold? I've heard that happened before under FDR the last time there was a Great Depression. Maybe I should just buy a good car or something.

Up, useful and interesting BTW.


bgamall profile image

bgamall 4 years ago from Las Vegas, Nevada Author

Government only would confiscate gold, IMO, if it was tied to the currency. With a fiat money system that isn't important.

I have great respect for Keiser, and yet, I think the odds of hyperinflation are low. I see a deflation of wages and a depression in mortgages. Even before the bubble there were 5 million mortgages for purchases per year. Now there are 2.4 million.

We could end up with a sort of stagflation, where the cost of living rises while the economy tanks. That would be bad.

I cannot tell you what to invest in, but so far cash seems spendable. Gold may go up but it is leveraged up like other commodities, and that is different than money.


austinhealy profile image

austinhealy 4 years ago from Treasure Coast, Florida

I completely agree with you that some form of socialism used with moderation (and called another name) is a positive thing. Everybody, and I mean everybody, is entitled to a minimum income in order to live decently. However, and I'm not talking only about the US , I am opposed to handouts, or free money. I would prefer people to be put to work and earn a decent living that way, but of course, there are not enough jobs, which brings the following thought : with developing countries costing more and more to produce, isn't there a little chance that down the road some manufacturing jobs might come back home. Another thing, the buying power of the average american hasn't gone up for a long time . So far, big corporations have made up the slack in sales by hiking up prices. Which means the buying power goes down even more .How long is this going to last until the whole system falls apart ?


bgamall profile image

bgamall 4 years ago from Las Vegas, Nevada Author

Manufacturing could come back to the US because wages are increasing in China and elsewhere. But I think this process is slow. Therefore, people will have to live multigenerationally to survive. We need to be frugal and teach the same to our children.


EmmettSmith1 profile image

EmmettSmith1 3 years ago

Socialism is better than communism any day. I am not sure it is for the US though. Although, we do have some aspects of our country that resembles socialism.


bgamall profile image

bgamall 3 years ago from Las Vegas, Nevada Author

Yes, Emmett, that is my point, it is better than, and an alternative to, communism. Thanks for stopping by.

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