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Socialism is an economic system characterized by public ownership and centralized planning of all major industries (manufacturing, services, and energy), banks and insurance companies, agribusiness, transportation, the media, and medical facilities. Under capitalism, these giant enterprises dominate the economy but are privately owned and operated for the purpose of generating wealth for their owners by extracting it from working people who are paid only a small fraction of what their labor produces. Socialism turns this around so that the class that produces the wealth can collectively decide how it will be used for the benefit of all.

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It is what we are going to get after the election, if we vote Obama back in!