Episode #17
Fallacies About Socialism
Voted in: The only difference between socialism and communism is that socialism is voted in.
European product: Socialism is a product of European intellectual development.
Against freedom: It could be thought of not as socialism versus capitalism, but as socialism versus individual freedom.
Individual ingenuity: Ingenuity can only happen at the individual level. There's no collective ingenuity.
Operating system: Capitalism isn't a belief system but an operating system that says if you organize your life a certain way and do certain things, you’ll come out ahead from an economic standpoint.
Capitalist-based: The United States is the only country that was purely created as a capitalist-based country.
Financial literacy: Polls have shown that currently, 67% of Americans have what is, effectively, financial literacy.
Giving wealth: The end result of all socialistic policies and programs is to take the wealth that's created by the people who are good at creating wealth, and give it to the people who aren't good at creating wealth.