Socialism is, in theory, from each according to their ability, to each according to his need. Problem is, if people aren't motivated to work hard and innovate (i.e. by getting rich), they don't bother. That's why the Soviet Union crumbled from within.
On the other hand, we experimented with unregulated capitalism a century or so ago. People starved, kids were forced to work and die in factories to support their families, and people like Rockefeller and JP Morgan made obscene amounts of money.
So, yes, we need capitalism. People need to be able to benefit from their work. And welfare needs to be kept at modest levels. But when people are being denied basic necessities while the rich get tax cuts, that's a bridge too far.
On the other hand, we experimented with unregulated capitalism a century or so ago. People starved, kids were forced to work and die in factories to support their families, and people like Rockefeller and JP Morgan made obscene amounts of money.
So, yes, we need capitalism. People need to be able to benefit from their work. And welfare needs to be kept at modest levels. But when people are being denied basic necessities while the rich get tax cuts, that's a bridge too far.

