America's "Becoming more socialist" Mistake

America’s “Becoming more socialist” Mistake - 9/9/2025

A new Gallup poll finds that while the majority of U.S. adults generally have a more positive view of capitalism than socialism, Democrats do not. According to the survey (albeit with only an 1,110 person sampling), just 42% of Democrats view capitalism favorably, while 66% have a positive view of socialism. Positive views of socialism have grown among older and younger Democrats.

Based on the sampling, the overall rate of those with a positive view of capitalism is down from the 61% rate of fifteen years ago, and sitting at just 54% today. Even independents’ view of capitalism has shrunk. In addition, less than 20% of Democrats said capitalism “makes sure everyone’s basic needs, such as food, health care, and housing, are met.”

That said, I don’t see any law that bans these Democrats from donating to charity rather than stealing it via socialist taxation. Apparently, the “my body, my choice” crowd has no problem altering their ethics since “your money, your choice” is never spoken by them. Either one believes in self-reliability and autonomy, or one doesn’t. Socialism doesn’t.

Even fewer Democrats (17%) have a positive view of big business, while 60% of Republicans do. Yet most of those Democrats will continue to use Facebook, Amazon, and other companies whose founders make billions.

While I am certainly not a big fan of Big Tech, Big Pharma, or big anything else, I don’t want socialism replacing capitalism. Why? Let’s look at the EU, which is far more socialist than America.

The avergage EU household does not have an ice-maker, nor do they have a clothes dryer. Air-conditioning is considered a luxury in the EU, even in the hotter southern countries. When accounting for the cost-of-living, Americans earn as much money in the first nine months, than what Europeans earn for the entire year.

When it comes to company output, goods and services produced per hour by the EU equals 80% that of America. Thirty years ago, that number was 95%. Just ten years ago, the EU had 28 of the world”s Top 100 market valued companies – today they only have 18.

Thanks to green energy policies, EU industrial electricity prices are 2-5x that in America, making goods more costly to produce, and consumers to buy. Firings and layoffs are almost unheard of. Their largest market value employer, SAP, allegedly had to pay out three years of salary when laying off 10,000 workers. Paying for those no longer producing drives up prices even further.

Wanting to start a business? EU startups require 3x as much bank borrowing as US startups because Americans have much better access to venture capital and private equity.

After factoring in the taxes and welfare distributions that socialism brings, Europeans’ disposable income remains 14% lower than that of Americans. Only the poorest 10% of Americans are worse off than the average European in spending power.

Does capitalism have its flaws? Damn right it does. However, socialism has far more, which results in a lower financial well-being. Consider that while sucking down that iced-tea in your air-conditioned home or apartment. Oh, wait! Most Europeans have neither of those.

Sources used: Associated Press and Reason