John capitalism versus socialism, thats our show tonight. Bernie sanders killed it in New Hampshire, overwhelmingly democratic voters chose a man who calls himself a democratic socialist. Voters want that . I guess they dont know what socialism means. Bernie says it mines all kinds of good things like fairness, equality, kindness. His supporters say democratic socialism is what countries like denmark have. People there have comfortable lives. Im starting to talk myself into this. But thinking this way is dumb. I liked what regina posted on my facebook page. She says people dont understand it means for the good of the group over the individual. Still lots of americans say that would be good. Lets take care of the group, not just selfish rich individuals. Thats what democracy for america, millionmember Progressive Group for howard dean believes. They endorsed Bernie Sanders. Neil soroka speaks for the group. You must be happy. When someone is aggressive think speak up to the fact that we all do better when we all do better to win in such a big way is good for democrats and good for the country. John socialism generally means the government owns the means of production. Do you want that . I think there are antiquated views of what socialism is. I dont think people are calling for state ownership of the gas station down the street. But we are saying the Current System isnt working. When over 40 million americans are still living in poverty that a millionaire and billionaire class is trying the essentially own all political discourse in this country, thats problematic and thats what we have to Work Together to dismantle. John lets take them one at a time. Own political discourse. You are referring to citizens united. Rich people spends a lot of the money on political campaigns . Its the way wealthy and powerful interests control congress. The real challenge this country is how do we make sure corporations arent the ones writing the laws. Real people that elect representatives get a say in their government. John i didnt see the corporations winning when they backed romney or hillary in the last election or jeb bush this election. All this money and spending on ads doesnt seem to buy the country. There will be times they win and they lose. But at end of the day, when you are helping write the laws, when you are helping determine what goes on in washington john the unions and Big Government, thats not influential, they arent writing the laws and manipulating the rules to suit them . Here is the big difference. Unions are a collection of working people coming together to themselves enact change. John so are corporations. But there is a distinct profit motive that unions dont have. If we want to have reform of compensation across corporations and unions, lets do it. Lets make sure nobody is make an unfair, undue profit off everyone elses work. John you want to fix the big wealth disparity and there is one. Socialism professes to do that. But how did that work in the soviet union store cuba and venezuela. How come it never works and it leaves everybody poor . There are a lot of nordic countries that have the democratic socialist world view that works today and its working quite well for working people. John when you say nordic countries, what do you seen in. Sweden, norway . It would be a great place to be a middle class working person. John in europe youth unemployment is 20 . Double than it is in america. What have they invented in norway or denmark. What innovation has come out of europe . This is a stagnant place. It was rich. Socialism has made them complacent and poor. I dont think we have to have this false choice between innovation and a country that works for working people. We had a system where we can insure that government and business works for working people, its going to look different than it looks in the rest of the world. But creating this false choice isnt helpful when we know the system we have right now isnt working for most people except those at the very top. John lets go to social media, i asked my social media followers for their thoughts on socialism. Martin dean posted capitalism accomplishes all the goals socialism tries to achieve and does it without theft or use force. Own google plus. Jason added capitalism is about choice, socialism is about force. Ths te. Gornme is rced u mahateheseig coanie buyou nt ve tuy tir stuf e wod lo to ve aingl payer healthcare system. If something goes wrong and i dont get access to the care i survive, i can go after the politicians enacting that policy. I can vote them out of office. I dont have that sort of choice when it comes to taking down a Health Insurance industry that active think clouds with one another. John what are you talking about. You have one vote in vermont. In vermont your vote wont down in the president ial election. We know they will vote demo if you dont like your company you can go to another company. You can vote with your dollars. You can vote with our dollars if they will take your money when you want to buy Health Insurance. That was the big problem we had prior to obamacare. So many people talk about eliminating obamacare steam forget the real challenge people had was Health Insurance wouldnt cover them. They were cherry picking the Healthy People versus the sick people. John thats what insurance is, they try to make and profit and the really sick people may need to be taken care of by the government. We are out of time, but thank you for arguing your point. Lots of americans, especially young people agree with him. There is real excitement at Bernie Sanders rallies. People channel feel the berks rn. We are going to explain what democratic socialism is. What democratic socialism is saying is its immoral and wrong that at top 1 10 of 1 own almost 90 . John i think a lot of americans feel 1 of americans control so much wealth. Thats why democrats say government ought to step in and redistribute. If thats socialism, whats wrong with that. Lets ask an economist. Whats wrong with that . It doesnt work. We have historical evidence it has never worked. Lit never work its a system that is not fitting for human being as we truly are. John you group under socialism under yugoslavia until you were 14 years old. I learned a lot by the from my far it who was a public auditor in croatia. He sat rot from within. He was checking the books of all of these government controlled businesses. He tried to get us out of yugoslavia in the 1970s and did not succeed until 1984. But i had a chance even though i was young, to observe how socialism does not work in person. John you are talking about communism. Todays democratic socialists say we couldnt want that. We just want denmark. There is rhetorical flourishing going on here. Denmark is not what bernie and his followers say it is. The Prime Minister of denmark objected to denmark being referred to as democratic asocialist country just back in november. He was quite upset about it. He point out denmark as a strong market economy. If you look at what denmark has been doing, thats true. John they have less regulation, fewer labor rules, its easier to hire and fire. All correct. They are ranked extremely close to the United States in terpt of the index of economic freedom. John you say Income Redistribution never works. They say, you know, in denmark and europe, the people are closer together. Its a nicer site, bert for everybody. They really are not speaking the truth. The fact is that in denmark we have still a great deal of income inequality. 10 of the people control 80 of the wealth. Even in denmark. There i no way to avoid it. What they do do is even gang in a great deal of Income Redistribution. If bernie want the u. S. To be more like denmark. What should happen is taxes would go up on most americans, most middle class people, most of them poor people, and go up considerably. But here its just one john we are out of time. Thank you. How soon will america go broke . Baits not just sanders and the democrats who promise impossible spending. Republicans want to spend more, too. We need to increase our military spending. We are not spending enough right now. When you think about success, what does it look like . Is it becoming a better professor by being a more adventurous student . Is it one day giving your daughter the opportunity she deserves . Is it finally witnessing all the artistic wonders of the Natural World . Whatever your definition of success is, helping you pursue it, is ours. Tiaa. Hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they selling like hotcakes . With comcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. Yawn america isnt truly socialist yet. Under socialism government owns everything. Our government doesnt. It on owns about half. Yes. Government so big it controls half the economy. And the government controlled part keeps getting bigger. We are on the road to bankruptcy. So what do the democratic candidate say about that . I would like to see planned parenthood get more funding. We should expand funding. John they all want to spend more on everything. This would be bad and socialist enough if government had the money, but it doesnt, to fund it prop is. We reached 19 trillion of debt this month. You ready to pay your share . Despite this crisis, this elect season we have heard nothing from the candidate about the debt. Doesnt anybody care about the debt and america going broke . I care and so does this woman. Im the Deputy Director and the rowe institute. She is a geeky budget analyst and she spend her days obsessing about our debt and sometimes testifying about it. Nobody cares. I think people do care but they dont understand the root source of the problem. 19 trillion in debt means its larger than the size of our entire economy. That drags down growth. We should care about economic opportunity. John Interest Rates are low,er said this would and disaster when the debt was much less. Its like you are on the titanic. You see the iceberg on the radar screen. Its time to make course directs now and not go toward it. Social security, medicare, medicaid, those changes hard to make. But Congress Need to get us on the path to balancing in the long run. He can motor because . Because of higher spending. 85 of the growth and spending is from Social Security, medicare, medicaid and interest on the debt. John im old, i refuse to die, i keep wanting to collect the some of my government promised me. We are a big group than that will bankrupt me. Its the population 55 and older that tend to vote pore disproportionately. John we have a chart by paul krug who calls it the mostly solved deficit problem. The step up plus spending and the tarp bailouts. Spending is going up. Thats the real problem. The only reason we have seen an improvement in the deficit. Most of it is because of tax increases. John it hasnt blown up partly because Interest Rates are low. What happens if Interest Rates went back up to a normal historical 5 . Well be spending more in interest on the debt than well be spending on the military or other federal National Priorities and thats troubling. Every dollar that goes to interest on the debt is a dollar thats not available for the federal priorities. Even the republicans want to spend more. I will tell you we are not spending enough right now. The republicans want to increase military spending. The democrats want to increase spending on everything. Universal healthcare coverage for every man woman and child. Public colleges and universities, tuition free. John they get this thunderous applause. People are excited by more spending. They are not excited by what you are talking about. Thats how you got massive unfunded liabilities. Seniors and baby boomers, we need to make change now and the next president will have to lead on this issue. If we dont cut spending, we just try to make up for all these unfunded liabilities are tax increases, we would have to raise taxes on everyone by double their taxes. There isnt enough money to get from the rich. So you are raising taxes on low income workers. Thats way its going to take if we dont cut spending. John next, young people being brainwashed into supporting socialism. He introduced himself as the most raging liberal you will ever meet. John what can a student say when someone brings up socialism. He says jesus was a socialism and capitalism caused the Great Depression. My next guest will tell you what to say. Earth hour is about empowering people making a difference to change Climate Change with passion and excitement earth hour is about inspiring Climate Action celebrating a Global Movement and impact join us at earthhour. Org 19th march at 8 30pm wow. College already yeah we gotta go yeah sfx car starts, car door closes for all those times you stood by me for all the truth that you made me see and remember. For all the truth that you made me see seatbelt. Drive safe. Call when i get there. For all the joy you brought to my life i. I love you. For every dream you made come true for all the love i found in you for all the love i found in you i love you too daddy. Youre the one who saw me through through it all and thanks. For, everything. You were my strength when i was weak you were my hopes when i couldnt speak because you loved me most College Campuses are liberal. John often i think oreilly is a cranky ol old codger complaing with young people. But he has a point. 99 of college pro pessors who donated to politicians gave to democrats. Jesse watters asked College Students about leftist professors. He introduced himself as the most ranging liberal you will see. He said if you dont like it, he said you can get out. Have you ever changed an answer to you will get a good grade . Oh, yes. John are you going to stand and say excuse me, professor, you are pushing socialist myths. So first what is the foundation for Economic Education . The foundation is the oldest premarket think tank in the United States, and our focus is on high school and College Students giving them the facts and figures and arguments they need to stand up for individual liberty and small government and private property and personal character. John lept start with some of the big ones. The Great Depression was caused bid capitalism. Just the opposite is the case. The Federal Reserve began to raise Interest Rates in 1929 and choked off money growth and the economy slumped. It was the price we paid for the previous bubble. Then you had one crazy policy of government after another. We had sky high tariffs. He doubled the income tax and fdr came along later and made it worse. You cannot close the door to i am 40s without closing the door to ex you cannot close the door to imports without closing the doors to exports. Foreign governments retaliated and raised their tariffs against american goods. So they knead a recession a depression. John america had recessions before and we quickly recovered. This time hoover and roosevelt took steps to fix the depression. It got much worse and got much worse. Two years later we had the revenue act passed which doubled the income tax. It raised the top rate by more than a doubling. When Franklin Roosevelt came into office the new deal interventions came in. By the end of his first term Franklin Roosevelt doubled spending. In the midst of it all you had roosevelt constantly attacking people of end prize calling them economic royalists. John on colleges everybody believes fdr saved us. Its so false. The depression was still with us on the eve of world war ii. We didnt get a recovery until after world war ii. John the next myth. Profit is evil. Profit is the measure of success accepts. Its the fertilizer that quickens the imagination of men and women in a free marketplace. A depression is an economy without profit. A couple more myths. Jesus was socialist. Jesus himself was after he broached and this is recorded in the book of luke by a man who wanted him to redistwri tbiewt wealth. He says master, speak with my brother that he divide the inheritance with me. He replied, month who made me a judge and divider over you. Jesus came to uphold the law. The 10 commandsments are pivotal. The the Ten Commandments say thou shallt not steal. It doesnt go on to say unless you can find a politician to do it for you or unless you can spends it better than the guy who earned it. John thank you, larry reid. My next guest says you have guys, you are out of touch. You dont realize socialism is not a dirty word anymore. But capitalism is. Thats next. This is how socialism starts. Government cause a problem, then government steps in to solve the problem. John exactly. When Carly Fiorina said that i cheered finally. A politician saying that Big Government promising to fix things causes problems. And they propose solutions to problems they created in the first place. But apparently im not normal. Carly fiorina didnt generate much excitement on the campaign trail. And 43 of likely democratic voters in the Iowa Caucuses said they would use the word socialist to describe themselves. Shoot me. While this surprises me, frank s only because im clueless about the way