Arguments that try to label today's American economy as capitalist really is a joke today. It's no longer based on capitalism, and hasn't been for quite a while.
The failures in today's U.S. economy come from Socialist principles, not Capitalist principles. So how far back in American history would we have to go to find when capitalism was its economic basis? Farther back than any here were born.
In 1913 the Federal Reserve Act gave internationalist bankers a foot in the door inside the U.S. economy, by creating the Federal Reserve system, a PRIVATE bank that is NOT part of the U.S. Government (go check that out if you don't believe me). The Federal Reserve PAYS taxes! Since its inception, it began slowly moving the U.S. monetary system off the gold standard, with complete removal in the early 1970's under the Nixon administration. The gold standard backing of the U.S. dollar kept the power and value of currency more in the people's hands, instead of in the bankers and politician's hands.
In the 1930's, as part of the Socialist principles that President Franklin D. Roosevelt allowed with the New Deal legislation, the U.S. federal system became a tool for Socialism with several federal departments created to help get the U.S. economy back on its feet, but in reality it created a systems of socialist controls over many areas in the lives of American citizens. In 1933 politicians passed progressive taxation upon the people, an idea that Karl Marx postulated in his Communist Manifesto using Socialist principles.
Progressive taxation served the goals of the internationalist bankers behind the Federal Reserve system. Since its inception in 1913, the Federal Reserve system slowly removed the U.S. dollar from gold backing it. They did it fractionally, little by little, until in the early 1970's they completely removed all gold backing the U.S. dollar. Those dollars before that were called Silver Certificates, and were redeemable for real silver coin, until the 1970's. Then the U.S. dollar became a Federal Reserve Note, not backed by any gold or silver. The idea of it being a NOTE is important, because it means a financial type Note, a 'Promise To Pay' type Note per banking (promisary note).
A Federal Reserve Note is literally a 'Promise To Pay Note' by getting its backing funds from where? A U.S. Treasury Note. And what is a U.S. Treasury Note? Another 'Promise To Pay Note'. So finally, where does the U.S. Treasury Note get its backing? FROM THE AMERICAN TAXPAYERS. That's the reason for the Progressive Taxation system in the U.S. that only began in 1933. In order to ENFORCE that progressive taxation system upon American citizens, they then created the Internal Revenue Service (IRS), a branch of U.S. government that can sieze all your bank assets and property even BEFORE it has proven you've done anything wrong!!!
In the process of this, these internationalist bankers joined with their political halves, have taken a whole lot of that taxpayer money to feed their own aims, and even allow TAX EXEMPT FOUNDATIONS to use funds that would normally be taxed to prop up more of their Socialist agenda for America! (see Renee Wormser's book Foundation: Their Power And Influence, a work that came out of the 1950's Reese Committee investigation on tax-exempt foundations). That kind of working is what Socialism is about, not Capitalism. We're already 60 years PAST that Reese Committee investigation that found tax-exempt foundations like the Ford Foundation, Carnegie Foundation, and many others, propping up Socialist ideals in virtually every walk of American life, some of those foundations were even found supporting Communists by the 1950's Reese Committee investigation.
And now, many of YOU have bought into their lie against Capitalism, and have become Socialists, which is exactly what they have taught you to become!