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Why is capitalism losing favor? Real world experience.

Why is capitalism losing favor? Real world experience.
U.S. Speaker of the House Rep. Nancy Pelosi (D-CA) holds up seven-year-old Kassidy Durham of Durham, North Carolina, during a news conference prior to a vote on the Raise the Wage Act July 18, 2019 at the U.S. Capitol in Washington, DC. The legislation would raise the federal minimum wage from $7.25 to $15 by 2025. (Alex Wong/Getty Images)

Letter writer Steven Davidson wrote that while he hates President Donald Trump, the Democrats running against him are worse because of their “socialism.” After further warning that Democrats are being pulled left by welcoming immigrants “with open arms,” he adds, “We must educate newcomers on the advantages of capitalism over socialism” (“I hate Trump, but I’d hate a socialist Democrat even more,” July 15).

Newcomers aren’t the only people who need to be educated. A 2019 Gallop poll revealed that nearly half of Americans — and a majority of Democrats — view socialism favorably. And among people aged 18 to 29, their positive view of capitalism has dropped 12 percent over the last two years. No wonder. As the Wall Street Journal reported in May, the 72 million Americans born between 1981 and 1996 are “approaching middle age reportedly in worse financial shape than every living generation ahead of them. ... They have less wealth, less property, lower marriage rates and fewer children, according to new data that compare generations at similar ages.”

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A better idea would be to educate newcomers (and Americans in general) on the disadvantages of capitalism. But it’s an education they’re already getting in their day-to-day lives.

Joe Surkiewicz, Craftsbury Common, Vt.

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