Recent polls indicate that a significant number of Americans, particularly younger voters, are gravitating toward Socialism.

This trend poses a serious threat to the prosperity of the American people.

Capitalism, not Socialism, is what has transformed the U.S. from its inception into the world’s largest and most prosperous economy in just over 150 years.

At its core, Capitalism champions the principles individual freedom, individual responsibility, low taxes, and a limited government role.

These foundational ideas, along with private property rights and abundant natural resources, have been instrumental in driving American prosperity.

For the past century, the U.S. economy has maintained its status as the largest and most prosperous in the world.

Yet, there have been moments when skepticism about Capitalism has surfaced, especially when people point to the inequality in wealth and income distribution.

Critics highlight that while there are numerous billionaires, millions of Americans live below the poverty line.

They argue that such disparities illustrate a fundamental unfairness in the system. Some even advocate for overtaxing the highest earners to redistribute wealth to those in need.

Such a Socialistic move would be catastrophic, simply because it would discourage high achievers from increasing their contribution to the economy.

At the same time, it would encourage low achievers to depend on the government. That leads to slower economic growth.

Yet, this more equal distribution narrative has drawn many voters to Socialism, especially those struggling under the poverty line who believe Socialism promises a societal shift that would transfer wealth from those who have earned it to those who have not.

History shows us that this approach fails consistently.

The fundamental beauty of Capitalism is that it rewards each household based on the value of their contributions to the economy.

Billionaires emerge not by chance, but by making substantial contributions that benefit countless others.

Consider Jeff Bezos, who revolutionized the shopping experience for millions.

Thanks to his innovations, hundreds of millions of consumers no longer must travel to stores; they can simply order online and receive their purchases at their doorstep the very next day.

This convenience has vastly improved their lives.

Similarly, Bill Gates created an operating system that has empowered computers for hundreds of millions of people globally.

Elon Musk has also launched a myriad of products that have substantially enhanced lives.

Bezos, Gates, Musk, and others have made valuable contributions and reaped the rewards. This is the essence of Capitalism — encouraging individuals to innovate and contribute meaningfully to the economy, resulting in widespread prosperity for all.

However, those able-bodied Americans who voluntarily choose less productive paths often see meager rewards for their efforts. The way to address income inequality isn't to pull the wealthy down; it’s to uplift those at the bottom. Proponents of Socialism should recognize this vital truth.

To achieve economic mobility in our system, lower-income individuals must increase their value to the economy, usually through education or skill acquisition. Pursuing a degree or learning a trade can lead to greater contributions and, consequently, higher earnings.

Some may argue that numerous college graduates struggle to find suitable employment.

This mostly results from students choosing majors that lack market demand. Graduates with degrees in fields such as business typically find robust job opportunities and can add significant value, leading to higher salaries.

In contrast, those with degrees in less sought-after areas, like gender studies for instance, may face challenges securing well-paying jobs that make a valuable contribution.

President Trump's policies are poised to foster prosperity, ultimately raising the standard of living for all prepared Americans.

His administration has cut taxes, rolled back burdensome regulations, lowered interest rates, and stimulated economic growth.

Moreover, his energy policies have increased the supply of energy which has brought energy prices down.

The inflation rate is now falling so that by the end of next year the inflation rate will likely be down to 2% or less.

The growing economy coupled with the trillions of dollars in investment from foreign companies pouring into the U.S., will provide opportunities for Americans to contribute. That will lead to long term prosperity.

Eventually Americans will see the value of a free market, Capitalistic economy and that should reduce the apparent popularity of Socialism.

For the sake of our future, let's hope it works.

(A related column may be found here.)

Michael Busler is a public policy analyst and a professor of finance at Stockton University in Galloway, New Jersey, where he teaches undergraduate and graduate courses in finance and economics. He has written op-ed columns in major newspapers for more than 35 years.