Letter to the editor: Socialism and capitalism

Socialism or capitalism? You decide.

With socialism, government controls business, industry and prices; with capitalism, individuals control the means of production.

With socialism, individual rights are curtailed for the “common good.” With capitalism, individual liberties and free markets are protected. Socialists share existing wealth, while capitalists create wealth and, therefore, a higher standard of living. Socialists dispense government programs, while capitalists create jobs that foster self-reliance and innovation.

Socialism requires more regulations and higher taxes to pay for big government programs. As Karl Marx wrote in “Das Kapital,” “socialism is the first step to communism (as in China and Russia) while capitalism grows individual freedoms and dynamic economies (as in the United States).” While this comparison is simplified, the overall thrust is valid and crucial to the preservation of our country’s way of life.

Ron Raymond

Buffalo Township