You Like Socialism Because You Don’t Own Stocks

Bessent’s comment isn’t economics. It’s a ruling-class habit: deflect the squeeze, blame the people, protect the system.

Polling shows 39% of Americans view socialism favorably, while favorable views of capitalism have been sliding. When U.S. Treasury Secretary Scott Bessent was asked about that shift, his answer was blunt: people are warming to socialism because they do not own stocks.

He then used the moment to plug “Trump Accounts,” a proposal associated with Donald Trump and framed as a pro-ownership policy. The pitch is simple: give children a starter amount invested in a low-cost S&P 500 index fund, allow families to contribute more over time, then claim this will rebuild faith in the system.