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Trusted local news leader for Prescott area communities since 1882
12:38 PM Fri, Sept. 21st

Letter: Socialism versus capitalism

Editor:

Socialist democrats hate big corporations, but love big government, the bigger the better. Government does not make a product that is sold to make money. Yes, it does provide a service by protecting us with a military and other requirements. For the government to get money it must tax the people.

However, studies have stated that almost half of the population does not pay federal income taxes, so the burden falls on the other half – the producers. The government then takes a large portion of that money and gives it to the non-taxpayers in the form of welfare, food stamps, housing, medical and other social programs, none of which were specified as a duty of the government. This is income redistribution. Socialism.

Corporations are made up of people. A corporation is owned by stockholders who have paid money to own shares of stock. The corporation then hires people to make the product. The product is sold, which produces income to pay the workers. At the end of the fiscal year, the corporation hopes to have made a profit of which part of it is used to give dividends to the stockholders and some may be put back into the company for expansion and pay raises. Also, stock shares may increase in value providing more money for stockholders.

The Democrats have voiced their displeasure at the recent tax cuts, stating “that’s nothing more than giving big profits to corporations.” Corporations are people. So, Democrats don’t want people to make more money.

Capitalism is what has made our country great. Socialism destroys capitalism.

John Beal

Dewey