Socialism in america only exists for corporations. “Hey bankers! Screwed up again? Here’s more money to play with.”
I appreciate the sentiment, but the public sector supporting the private is not “socialism.” Socialism describes an economic formation where public ownership is primary in an economy, ie where large firms are publicly owned and controlled. Segments of an economy cannot be Socialist or Capitalist just like an arm cannot be a human, it can only exist in the context of the whole.
Socialism, in reality, refers to a broader economy where public ownership is primary, while Capitalism refers to a broader economy where private ownership is primary. All Socialist societies have had public and private Capital, and all Capitalist societies have had public and private Capital, it matters most which one has the power.
I recommend reading my post here on common problems people run into when determining Modes of Production.
Original commenter: jokes in class solidarity
Response: « I appreciate the attempt, but what you said was wrong on sooooo many levels, in this essay, I will… »
There is legitimately a problem with miscommunication on the Left, getting on the same page helps information flow more effectively.
The USA actually spends several billions, if not trillions on Medicare (meant for the old) and Medicaid (meant for the poor, and single mothers, and young children) combined.
In 2023, the federal government spent about $848.2 billion on Medicare, accounting for 14% of total federal spending.
source - and that’s just Medicare.
I agree with you that it’s weird that corporations get a bailout, instead of selling the company to competitors, but no need to act like the USA doesn’t spend a TON of money on its citizens, keeping their head above water :)
