Since "socialism" is NOT a part of Joseph Biden's philosophy, it was disheartening to hear this leveled against him.
Although I'm not an economist by training, for a long time (and I sincerely apologize for not taking this up earlier) I have thought we have created this wide disparity in wealth among us by taking off the regulations on our well developed capitalistic system. A wide belief in the trickle-down economy simply does not help to bring about the values for which our country was established--allowing citizens a chance to "rise up," away from monarchies and privilege.
I would suggest, for starters, that "unregulated capitalism" can be as brutal as "state capitalism"--more commonly called Communism--what Russia had after they took up Marxism when they were still a feudalistic society. And while currently reading H.W.
Brand's AMERICAN COLOSSUS: The Triumph of Capitalism, 1865-1900, we have already suffered one very big round of wealth in the hands of a few in our first "Gilded Age" which Mark Twain may have first named as such.
Indeed, we do have a lot of money--just take note of all that was poured into the election cycle. But when one considers how a lot of Americans have to live, we really must begin to face the disparity.
For starters, how about simply putting back some of the regulations on Capitalism--like taxing those who have the money? Not only can we make the wide differences in wealth begin to go away, helping us to solve a lot of our overall economic problems, but then we might not even have to wade into the murky waters of talk about socialism.