For those with short memories, the reason private ownership is better than public is so that our country doesn’t go the way of the USSR, Cuba, Venezuela and EVERY other country that experimented with socialism (including Sweden and Spain). Each of them only (re)discovered it made everyone equally poor then gave it up.
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If one takes away all the trappings in the U.S. that have been purchased via credit/debt, would we look any different from these other countries?