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In actual fact, however, in the years before the Civil War, there was no capitalism without slavery. The two were, in many ways, one and the same. At the end of the 18th century, slavery in the United States was a declining institution.... Wage labor was increasingly replacing slave labor in both the urban and the rural areas of the upper South. And then came cotton.... By the end of the 1830s, the Seminole, the Creek, the Chickasaw, the Choctaw and the Cherokee had all been "removed" to lands west of the Mississippi. Their expropriated land provided the foundation of the leading sector of the global economy in the first half of the 19th century.... Between 1820 and 1860 more than a million enslaved people were transported from the upper to the lower South, the vast majority by the venture-capitalist slave traders the slaves called "soul drivers." ...It is not simply that the labor of enslaved people underwrote 19th-century capitalism. Enslaved people were the capital: four million people worth at least $3 billion in 1860, which was more than all the capital invested in railroads and factories in the United States combined. Seen in this light, the conventional distinction between slavery and capitalism fades into meaninglessness.

'Capitalism must be corrected: The social doctrine of the Church stands above existing economic systems, since it confines itself to the level of principles. An economic system is good only to the extent that it applies the principles of justice taught by the Church. As Pope John Paul II wrote in 1987, in his encyclical letter Sollicitudo Rei Socialis: "The tension between East and West is an opposition... between two concepts of the development of individuals and peoples, both concepts being imperfect and in need of radical correction... This is one of the reasons why the Church's social doctrine adopts a critical attitude towards both liberal capitalism and Marxist collectivism." '

>"Between 1979 and 2005 the inflation-adjusted, after-tax income of Americans in the middle of the income distribution rose 21 percent. The equivalent number for the richest 0.1 percent rose 400 percent. For the most part, these huge gains reflected a dramatic rise in the super-elite's share of pretax income. But there were also large tax cuts favoring the wealthy. In particular, taxes on capital gains..... >"Few of the 0.1% are in professions in which there is a clear relationship between someone's income and his economic contribution.... [So we] But they should ignore all the propaganda about "job creators" and demand that the super-elite pay substantially more in taxes."

"In a major encyclical addressing the economic questions raised by the upheaval in Eastern Europe in 1989, Pope John Paul II warned capitalist nations yesterday against letting the collapse of Communism blind them to the need to repair injustices in their own economic system. "The encyclical, "Centesimus Annus" ("The Hundredth Year"), includes the fullest, and in many ways the most positive, treatment of the market economy in any papal document. But praise is typically followed with qualifications and ringing reminders about economic failures in both developing and developed countries."

[Since 1929], there was never a period when as much as 9 percent of American gross domestic product went to companies in the form of after-tax profits. Now the figure is over 10 percent. [And] there never was a quarter when wage and salary income amounted to less than 45 percent of the economy. Now the figure is below 44 percent.... Effective tax rates, both corporate and personal, are well below where they were during most of the post-World War II era.