"He described the system as theft via the redistribution of wealth, where money earned by one person is taken and given to others who did not earn it; “that's theft”." The hypocrisy of the devout capitalist believer is astounding. Does this self-styled "libertarian" Wayne Allyn to actually claim that anyone in the "financial industry", on Wall Street or any international banking cartel members actually EARN the wealth they take? There is an endless redistribution of wealth that takes place in the capitalism system and it is all UPWARD, into the pockets of those who do no actual WORK whatsoever. They "earn" nothing. They steal everything. Their only "skills" are deceit, fraud, manipulation and thievery. These are not even people. They are leeches on the body of the human race. They control the world's economy with falsely commodified, privately controlled fiat money issued at interest. They take unearned wealth through a system of usury, which creates endless debt for the working people of the world. They use this unearned wealth to "buy" all the vital resources of Earth in order to deprive the working class of life's necessities. Their motto; Buy or Die. These creatures are parasites upon the human species. They are the greatest "free-loaders" to ever exist. They contribute nothing whatsoever to human society and in fact cause oppression, poverty, suffering and death for millions every day. What these creatures should really earn is the utter contempt of every thinking, caring, working person on Earth.

It is labor that creates wealth. The capitalists hoard the wealth created by labor. How do they do it? Simply by using the capitalist political system they have created and control. As simple as that. The 2008 Libertarian Vice Presidential Nominee Wayne Allyn Root who employs 100 workers accumulates wealth by appropriating (stealing) the sweat of his workers who outnumber him 100 to 1. Capitalism is good for one person, but socialism is good for 100. Which system would the people in their right minds chose?

Wikipedia lists 15 different kinds of socialism. So which of these are the best for the welfare of the whole. Most Americans would think of socialism as the very "Red" type of Stalinism to Maoism, but what of social democracy of the Scandiavian countries?

"America" - a loosely defined composite portrayal - portrayed by an also loosely-defined composite "Media" with many forms&identities [Educational Media & Media passed by word of mouth]. My comment is prefaced with this statement as my own comment derives from my "Media" Experience and opinions & subsequent action or inaction formed by this and portrayed at times within "America".My version of "America" appears to have silently& unknowingly "Shot itself in the Foot". No Terrorist Group or Groups or Country Hell-Bent on destroying "America" - could have pulled off the massive offshoring of America's Bread and Butter- its manufacturing jobs.Further, "Boomer Citizen Joe" is incapacitated while company pension funds are diverted elsewhere. This "Boomer Citizen Joe" worked at a possibly despised job for 30 years - profiting GM Stockholders etc. & assumed a payoff for 30 years = Company Retirement Pension Security. America's Corporations through bankruptcies, mergers and a range of perfectly legal reorganizations and re-naming sacked those pension funds for the most part and off-loaded them onto The US Pension Guarantee Trust - now in financial crisis itself... not to mention another related type of "theft" - 30 yrs of FICA deductions confiscated & diverted elsewhere by their USAGov. The Social Security "Story" is a scam - a Ponzi Scheme. Go to USAdotGov 2009 US Financial Statements as it is a click or 2 away & supports the statement. This Joe America bought a Bill of Goods sold& delivered via their "Niche Media" - possibly the tip of an iceberg. Maybe. In the context of "Capitalism vs. Socialism", "Joe America" is clearly unable to define/grasp the essence of the 2 concepts & has chosen Capitalism hook line and very Heavy Sinker. By denouncing a concept they have been taught to believe is "Anti-Joe America" [Socialism], "Average Joe America" has once again shot himself in the foot. Wrap-Up: It's a free country & foot-shooting isn't a crime. I think.

It's no use getting hung up on whether something is Capitalist enough or Socialist enough. The "true believers" in both camps treat their "isms" like religions and make things uncomfortable for the rest of us, who just want to find something workable that will allow us to help people AND make money. If I ever find such a process, I will refuse to call it by either name.

capitalism american style take from the taxpayer give it to the rich

Oh please Richard. Why do we always have to take things to extremes? Have you heard of the law of "unintended consequences"? Something good will inevitably turn to something bad. The financial industry is what made that car, airplane, computer, TV, appliance, farming equipment, etc possible. They are the ones that provide the money to help people turn their ideas into products. They are risking THEIR money (assuming they are not living off corporate welfare). That said, no corporation deserves to be bailed out by government...not even the automobile industry. The private sector can take care of its own problems if given a chance. The government should only be acting like a referee making sure the field is even for all the players.) Sure that industry is corrupt but whose fault is that? If you really want to label an industry corrupt, then think "politics". They are the root of the corruption and it is what has corrupted Capitalism. Look, even cockroaches have their place in nature. Nature will ultimately decide whether something is no longer of any use. Look at what happened to the dinosaurs. :)

The reason why dinosaurus did not adjust and evolve is due its strenght and the advantage the species had over many others. Not being in danger by their immediate rivals, there was little need to adjust. Yet, the changes in the environment were too subtle for them to react to, as they bet their overhelming strenght against the ever more dificult surroundings. And to be fair, some did adopt. The flying ones mutated into birds, and I am sure some other species owe their existence to some offshoot of dinasour lines. Same is true of human systems. The very debate of "captalism" vs. "socialism" is idiotic and makes one laugh. The very people who are being robbed, are cheering the robbers. Nay, they insist that they did not rob enough! As if really only the brave risk of capitalists creates all the progress in the world. The progress, since the days of Sumeria, has always been linked to DEMAND. And demand is fueled by a growing circle of people rising above the needs for basics, and have the purchasing power to demand more: more food, more shelter, more transportation, more luxuries. How and which forms this process takes, is irrelevant. The distortion of last 30 years crony capitalism, produced ONE type of capital that is valued, the one belonging to the IN group. Other people's money is not worth anything. So, our power brokers, really gave away OUR taxpayers money, property and other natural resources FOR FREE or for very little compensation to the IN crowd. "Contracts" are money given away and instead of me, the CAPTIAL OWNER, getting a deal with the provider on good, capitalist terms, and getting the share of profit commersurate with my INVESTMENT, I get nothing. There goes my "entitlement", my OWN CAPITAL, and I need to beg for it? But the dinasour is clueless.

I do not really understand how anybody can blame "socialist" Obama for the bailouts if it was started by neo-con Bush Jr. If Bush is not enough capitalist, than nobody is.

Wayne Root scores big points declaring his opposition to government subsidies and bailouts for large banks and industry. He scorns such practices as “crony capitalism,” as distinguished from “pure capitalism.” One wonders whether he would argue with equal propriety that it was “crony socialism” (not pure socialism) that led to the eventual collapse of the Soviet economy. But regardless of where or with whom he finds fault for conditions promoting “crony capitalism”, Mr. Root cannot explain why capitalism (the system itself in its purest form) has failed to rectify, reverse, or check “crony capitalism” as he defines it. A system that cannot check its own excesses is a failure. It is the system itself that is under indictment, not the individual power players, because it is the system that has opened our laws and our institutions to corruption. It is the system that supports and encourages corporate theft under the rubric that “private greed promotes public benefits.” No matter what effort Mr. Root takes to circumscribe capitalism’s failures by definition, the fact of capitalism’s failures remains unchallenged. It perpetuates poverty, racism, sexism, and military expansionism. It crushes egalitarian social reforms in countries all across the globe. The jury has already reached a verdict: from a systemic analysis, “crony capitalism” is just “plain capitalism,” or at least a predictable outgrowth of it. The point is, definitions can’t solve problems. As Michael Prysner stated, we all have to take a side. I stand with Michael in his belief that our social problems cannot be solved within the very system that is creating them. Not every human problem is caused by capitalism, but many of the most important ones are. We need a new system that works for the common good.

No matter the " ism " of the moment - they all fail when the government allows corruption to run like wildfire ! If the government keeps changing the rules in favor of corporations and itself - we are talking Fascism . Pretending to help the Average American is an art that all Presidents must use to convince voters they deserve re-election .

'i marched in the Parade to Honor the Bravery
now they bailed US out to reintroduce Slavery
next time i salute on the Fourth of July
I'll have to step back and ask myself "Why?"

in our Trickle Down world they'll just throw US a bone
but guess what they won't leave US alone
'til we're spent and turned under, back into Dust
now ask yourself Truly "Is it In God We Trust?"

So in a socialist economy who do you think are going to make the day to day decisions?

Hint: it's not you. All these people who think that socialism is the answer are not thinking the problem completely through. Like the anchor said, there are MANY types of socialism.

I'm not so much scared of socialism, I'm just scared of all the poor people out there who do not understand socialism. Some of those people think socialism is free bread and honey while the rich gets robbed.

And by the way, those people that did the robbing were the same people that did the robbing in the 1910s, 1920s, 30s, 40s, 60s, 70s, 80s, 90s, 2000s, and they are doing the robbing now with the TARP bailout and run the Federal Reserve system.

These socialist want to "rob" the man down the street who managed to save up a pantry of bread, have a nice car, and have a nice house with some cash left over, while it's the crony capitalists that are robbing everyone in the country blind... the Fortune 500.

The benevolent despots are but a criminal gang, maintaining control through constant fear and hate propaganda.
All Americans are socialists at heart!!!
and as an American who has been to Russia, China, Egypt, Canada, Japan, Brazil, Paraguay, Germany, Italy, Costa Rica, Mexico, …
They are all socialists at heart!!!
(The problem is very poor thinking ability.  We have all been trained at an early age what to think, but not how to think)
Stop one moment and look at the micro (heart) of the matter.  When I was growing up, my parents fed all of us children.  (A capitalist would pick the ones most likely to succeed (winners) and the ones least likely (losers) and would back only the winners!  (100 years ago, yes, it was common for farmers to have a large family (labor pool).)  Today, I know no parents who don't want success and happiness for each member of the family.  Expanding that, families want neighbors who are friends (with families).  We don't break-in and steal from our neighbors (because we care about them), rather we want neighbors to care for us (not steal from us).  If I work hard and build something, I don't want it stolen or broken.As someone cursed with high IQ, I see that I can build robots that will do the jobs of laborers.  I was very excited by the maker-bot concept.  Put plastic into the machine, download a 3-D model, and the part is produced.  One of the first uses was a bathtub stopper. (Not glamorous, but a bath is nice.) The Italians are working on one using sand and glue. (Think printing out a house to live in.) You design something, post it to the web, and minutes later, it is being built in  20 different countries by people who find it useful.

We are bi-pedal. Is it unusual that we have 2 sides to everything?If we were tri-petal we would have 3 sides to everything!
How can a good decision be made if you only see one side?   I ask because we (as people) are coming from the scarcity side and are only now becoming aware of the abundance side. Who wants money if you have all you want?  I only want money when I need something.  Down with money!!!
Technology is the future and we are the creators of that technology.  The goal is brain development.  (What do I mean?) Right now (in US) we are educating teachers in the process of brain development.  This means that studies should complement the natural brain development. (You can't make 3 month old babies run.)  Unfortunately, the field is still developing and I would like to see it expanded to full adult brain development.  Our current level of development is dismal.  Every leader in our country currently suffers from incomplete brain development.  Good social interactions help develop the brain.  I want to see every person in the world to travel and experience another country.And don't get me started about evolution.  The Darwin Exhibit was the 1st exhibit not to have a sponsor, since less than half of Americans don't believe in reality (evolution).  With military rank-ism being the pot we boil in, this will lead us to being ANTS.