If you were to take a poll asking random Americans what their thoughts on socialism were, you would likely hear more negative opinions than positive. Due to socialism having similar ideologies to communism, they are often associated directly with one another, and typically not in the friendliest of manners. Mainstream media has demonized communism and socialism in recent history because of conflicts with nations who belong to those parties, is this justified? After all, socialism is simply the idea of collectively owned corporations producing goods for the citizens based on their value of utility, and communism is, in theory, the idea of a society working together to create a working economy in which they will all be paid equally.
What a surprising number of Americans don't know is that the United States is not a truly capitalist nation; we have integrated socialism into our everyday lives. Any government-ran organization is a direct example of socialism. Think about the United States Post Office, the Department of Licensing, and Social Security. Our government benefits greatly from these markets because of one simple fact; they do not have much competition. If the federal or state governments controlled all of the major industries, it would help our economy flourish by eliminating wealth inequality. The days of the majority of our national wealth belonging to a minority of Americans would be a thing of the past. Instead, all of that money would circulate back into our economy, and ultimately into our pocket. Instead of having millions of dollars go to greedy corporation owners every year, our government could be collecting that revenue and investing it in far more practical ways. .
With this influx of currency, our economy could undergo significant changes. We could expect a raise in the monthly taxes that we pay in exchange for free healthcare, free college tuition, free assisted living for the elderly, among other benefits that we do not receive in a capitalist nation.