When it comes to America, the only thing which nowadays people are calling is whether socialism is good for it or not. The USA is famous for opportunities and growth because of its capitalist nature. In a recent annual general meeting of Berkshire Hathaway, legendary investor Warren Buffett asked whether he supports capitalism or no. While answering this, he said, “I’m a card-carrying capitalist.” Now that pretty much explains why Warren likes capitalism because it ultimately gives opportunities to people to start a business and earn money by creating thousands of jobs.
Warren said that we shouldn’t change the current market system because of some things and put some laws which will ultimately stop the growth of his country. The free market system has always been good for America, and that’s the reason why it’s now largest economy in the world. But now because of current situation some socialists politicians are trying to admire concept of socialism. Some congressmen are even planning to implement a wealth tax of more than 80% on wealthy people and corporation which according to them are not adding benefits to the society.
Republicans who are famous for promoting capitalism are one of Warren Buffett’s favorite, and he even said country is going not going to be in the hands of socialists, and it will not accept that concept in future also. Even if Warren Buffet has supported Hillary Clinton in 2016’s election, he still thinks socialism is not going be taken in country. Many Democrats are trying to run for presidency based on problems like income inequality and health care problems, but Buffett, on the other hand, is a keen believer of capitalism. Warren Buffett who is world’ third richest man is no wonder why he supports capitalism over socialism.