Experience has demonstrated many times over that the worst economic forms of governance are either pure capitalism or pure socialism. A broad spectrum of society is best served by a balanced blend of the two. This is where Republicans run off the rail by pushing capitalism to the point of diminishing returns, except for a faction of the one percent of the greediest at the very top of the social ladder.
America’s national wealth was highest and the middle class bloomed largest when taxes on the rich were much higher than today. Sure there is a point at which high taxes can suffocate an economy, but there is also a point at which low taxes can stall out an economy. Shortsighted capitalists can’t seemed to seem to grasp this simple reality and political demagogues can’t seem to resist playing the lower taxes card.