Socialism provides the core economic alternative to the capitalist system. Instead of corporate and bank profits being put on a pedestal, the rights of working and poor people are put first. Under socialism every person is guaranteed a right to a job, a right to free health care, free education, free child care and affordable housing. Instead of society’s vast wealth being controlled and used for the capitalists, it is used for the benefit of the people.
Capitalism is a system that gives banks and corporations all the benefits while hardworking families lose their jobs and homes—a system that treats education as a commodity and allows the banks to suck $1 trillion from young people in the form of student loans.
Taken one at a time, each of the statistics below could be a shocking snapshot of our society. But if you put all these snapshots together, you see a whole story unfolding, a process of long-term decline for U.S. workers because of the capitalist system:
- 62 percent of Americans “always or usually” live paycheck to paycheck, up from 43 percent in 2007.
- The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
- More than 46 million people received food stamps in 2014, a 74 percent increase from 2007, and the number will continue to grow.
- Approximately 21 percent of all children in the United States were living below the poverty line in 2010—the highest rate in 20 years.
- 2.2 million workingclass people are incarcerated in prisons and jails—more than any other country in the world.
- Nearly $1 trillion of taxpayers’ money is spent every year for overseas wars and U.S. military bases in the name of “defense”—another subsidy for Corporate America!