Capitalism v Socialism or Neither

Bill O’Reilly, October 7, 2012, on This Week With George Stephanopoulos said this election is about capitalism vs. socialism. I got many definitions off the web here are a few. Capitalism - An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state; An economic system built upon the profit motive; a system dependent upon private individuals or companies investing money in order to make profits-the profits are secured by exploiting workers who provide their labor; An economic system in which capital (the goods or wealth used to produce other goods for profit) is privately owned and profit is reinvested so as to accumulate capital; An economic/financial system where a relatively small number of individuals own the vast bulk of capital assets and where the majority of the population is employed at a wage and owns little or no capital; and Economic organization based upon the free market (having the freedom to set prices for goods and services) and inherent individual rights. I believe our political system is being taken over by private individuals and companies because of lobbying and massive campaign contributions (first definition). Additionally, I believe because of profits people are being exploited by low wages and higher prices. 

Socialism - A political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole - in Marxist theory - a transitional social state between capitalism and communism; Any economic and political philosophies that support social equality, collective decision-making, distribution of income based on contribution and public ownership of productive capital and natural resources; a political theory advocating state ownership of industry; an economic system based on state ownership of capital; Philosophy and form of government based on the notion that the governmental authority ought to be used to promote fair and equal socioeconomic outcomes in terms of education, wealth and other important ways; A political doctrine that upholds the principle of collectivity rather than individualism as the foundation for economic and social life; The view that the government should own and control major industries; The idea that the working classes (the majority) should form a system of government which aims at securing all citizens the right to the equal satisfaction of vital needs; and A social organization in which the government directly controls the means of production by setting up rules but does not physically take over each business.

I believe Romney is a capitalist as he said – we believe in the “the pursuit of happiness as we choose…we also believe in the right of the individual to pursue their dreams – not for the government to substitute itself for the rights of free individuals.” Our doctrines require that we not be a capitalistic or socialist society – our forefathers wanted a more perfect union and we are to be somewhere in between. In my opinion Romney does NOT understand or support our Constitution.