Myth #1: Socialists want to take away your property
This myth confuses private property with personal property. When socialists talk about the abolition of private property, they are referring to the socialization of the means of production—the resources and equipment that create wealth. Working people do not own this type of property—which is why we have to work to survive.
Right now, the wealth of the 1,000 billionaires is equal to that of the 3.5 billion poorest people on the planet. In order to provide everyone with more, that wealth must be commonly owned, and not the property of those few capitalists.
Socialists have no interest in taking away one’s home, car or individual items intended for personal use. In reality, as the foreclosure crisis has shown, under capitalism the banks own most of this property as well—and will take it away as they please.
