President Donald Trump calling Democrats “socialists” is as silly and as inaccurate as calling Trump and Republicans capitalists. Yet that has become an important part of Trump’s re-election strategy. This type of political propaganda is another of his diversionary tactics to take voters’ focus away from his embarrassing performance as president.
Capitalism is based on a free market to determine prices and to distribute wealth. The means of production and business are privately owned. Socialism is based on state ownership of businesses and central planning of the economy by the government to make society more equitable.
The U.S. economy has been a fusion of capitalism and socialism at least since the Gilded Age and the time of the robber barons in the late 1800s. The U.S., like other countries with the highest standards of living and quality of life, combines elements of capitalism and socialism. Others include Canada, Australia, the United Kingdom, Japan, Ireland, Germany, Denmark, Norway, the Netherlands and France.
Examples of elements of socialism found in the U.S. economy and government include Social Security, Medicare, Medicaid, unemployment insurance, FDIC savings insurance, VA hospitals, public education, trade unions, farm and fishermen cooperatives, public libraries, public highways, public drinking water, and so on. Other elements include the many trade tariffs and government subsidies of American industry and business, from oil to agriculture.
Not surprisingly, Trump’s campaign rhetoric conflicts with his actions. He is a big advocate of trade tariffs and business subsidies. The construction of Trump’s U.S. luxury resorts and hotels were made possible by large government tax cuts and other subsidies. Such corporate welfare from which he has benefited personally is not part of a capitalist, free market economy.
Don’t fall for Trump’s latest political con game. If looking for a capitalist presidential candidate, consider the Libertarian Party.
George Seel
Belgrade
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