Palin: Cronyism Tarnishing Americans' View of Capitalism

Palin: Cronyism Tarnishing Americans' View of Capitalism

On Monday, Sarah Palin said the rampant crony capitalism in Washington has unfortunately tarnished the term “capitalism.” 

Palin was responding to a recent Gallup poll that found Americans viewed “free enterprise” more favorably than “capitalism,” while Democrats favor the federal government over “capitalism” by 20 percentage points. 

On FOX News’ “Hannity,” Palin said all of Washington’s pay-for-play scandals, which have become endemic to the Obama administration, may cause Americans to mistake “crony capitalism with genuine free market capitalism.”

Palin said “capitalism has taken a hit” because of crony capitalism, creating a negative perception of the free market in general. Palin said, of course, “that is a mistake.”

In the Gallup poll Palin referenced, 94% of Republicans and 88% of Democrats supported “free enterprise.” When asked if they supported “capitalism,” only 72% of Republicans and 55% of Democrats said they were in favor of it. 

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