Socialism – Sarah Palin and Answer for Joe the Plumber

I've just seen Sarah Palin on CNN and she also mentioned a question that Joe the plumber had.

Sarah, I believe in capitalism too, socialism is not communism and they are not the same.

Joe the plumber, similar to Sarah's answer, different economic policies or tax strategies do not make your country a socialist or communist one but they can, for example, result in economic prosperity or bankruptcy. Another example is that under the Bill Clinton administration the US was still regarded as a free and capitalist country and not a socialist or communist country. The Bill Clinton administration ended with a balanced deficit and when the Bush administration cut taxes to the wealthy and corporations in 2001, it resulted in deficits the size of 500 billion dollars a year, which make you poorer and the United States poorer, for a total of over 3 trillion dollars. This is what caused the US dollar to fall and lead to the economic crisis.

The other thing is the saying "the rich get richer". When the rich get richer they use their influence and power to get richer and more powerful. For example, they may use people and the media to say that cutting all their taxes is good for the economy. This is not true, if they have all the money, how you are going to pay for your education, buy a car and a home. And it certainly does not mean they will build a factory in the US instead of China where "Joe the plumbers" are less expensive. But what does happen is that they become so powerful that they become the defacto kings and nobles. This is very similar to dictatorship but more obscure then a recognized king.
I don't like communism, kings, or dictators and I think we are on the same side on this one.
All the Best Joe.
There are other dictionaries and definitions but this is what I got from merriam-webster.com
Capitalism:
an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
Socialism:
1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2 a: a system of society or group living in which there is no private property b: a system or condition of society in which the means of production are owned and controlled by the state
3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done