Listening to the Republicans and the Democrats debate socialism versus capitalism is borderline funny.  These are not the days of debates between John Kenneth Galbraith and Milton Friedman, the spokesmen for democratic economic theory versus the brainchild of Republican economic management.  Galbraith believed in pump priming.  Pour money into the economy, and the economy will do better.  Friedman counseled against debt which flowed from higher taxes and caused disgruntled voters.

We already have socialism in America.  It arrived with the Administration of Franklin Delano Roosevelt and has been supported and expanded by every President of the United States, including Ronald Reagan.

Michael Herrington popularized the phrase, “Socialism for the rich and capitalism for the poor.”  We generously subsidize hospital and healthcare for the elderly, children, and we have a Social Security system that now must be partially funded by the federal treasury.  The United States is awash in economic subsidies for all kinds of businesses and industry. Every state has a robust welfare benefit system at least partially funded by the federal government.

Almost all of my clients receive hospital and medical healthcare through government largess, whether state, federal, or some combination of both.  Healthcare plans receive subsidies and tax benefits.  Employers obtain tax deductions for all of their expenses, including benefits to their workforce.  The entire tax scheme is based on tax relief and subsidies.

Our defense spending is designed to keep our allies strong and our enemies........

© The Times of Israel (Blogs)