Robin Hood is back in town

Let capitalism be the hero

Sadly, even some of the best political gaffes are lost on those who don’t understand the difference between capitalism and socialism, so I keep trying to explain the economy to my children in light of the presidential candidates’ platforms. To help me, I turned to my son’s 11th-grade Social Studies textbook, whose sum total definition of socialism is “the idea that the government should own and operate industry for the community as a whole.”

With that paltry explanation, I can see why my children don’t get it. Frankly, they could better understand socialism by simply reading Wikipedia: “All socialists share the belief that capitalism unfairly concentrates power and wealth into a small section of society who control capital, and creates an unequal society. All socialists advocate the creation of an egalitarian society, in which wealth and power are distributed more evenly.”

This sounds very much like Obama who is now trying to camouflage his socialist ideas (“the equal distribution of wealth”) as “opportunity.”  So folks, Robin Hood is back in town. Yes, Obama is trying to rob the rich and give to the poor. His plan “advocates the creation of an egalitarian society” by taxing the rich more and eliminating or reducing taxes on the other 95% of America. In other words, as Joe Biden put it, “It’s time [for the rich] to be patriotic.”

To simplify the implications of Obama’s socialistic plan, let’s talk about a common, childhood moneymaking scheme: selling lemonade. Suppose all the kids in the neighborhood put up lemonade stands around town to earn money for the movies. At the end of the day, the government (Obama) says, “Great job, kids. Now give me all your money, and I will give back to you what you need to go to the movies.” Many are excited because they didn’t make enough to pay their own way; others are unhappy because they worked hard to take friends along but now aren’t allowed to; still, others complain because, even though they made enough money to also buy popcorn and candy, all they get is a movie ticket.

So, the next time kids sell lemonade, what do you suppose will happen? Who will try to earn more than the next kid? In fact, what will be the incentive to work at all if, at the end of the day, everyone gets the same thing? The incentive to work hard is one of the key differences between Obama’s plan (socialism) and the system we’ve supported since our nation’s inception (capitalism).

For decades, millions have immigrated to America precisely to get away from socialism. Many came at great sacrifice because they believed deep down that, given a fair shot at working hard and implementing their own ideas, they could have a better life here. So now, just because times are tough, are we going to lose our capitalistic nerve? Are we going to give up on a system that honors sacrifice, fosters entrepreneurship, applauds hard work, celebrates creativity, and ultimately creates wealth, or are we going to cave into socialism because we’ve lost our drive for and belief in the American dream?

At times like these, it’s tempting to look for a leader to ride in on a white horse and rescue us from trouble. Instead, why don’t we allow capitalism itself to be our hero? Socialism, with its deep financial needs to support itself, will always come seeking the taxpayers’ pocketbook. Remember: whatever we feed will grow. So, if we feed irresponsibility, laziness, or greed, then they will persist and even thrive. On the other hand, if we feed incentives to work hard and earn our own way, then capitalism will flourish and the American dream will live on.

Author's note: This is my first politically charged blog post and hopefully my last. Whether you agree with my position or not, you may find it interesting to note I wrote this essay during the presidential campaign four years ago. With only minor editorial changes, it's unfortunately still relevant.