A new Gallup survey has prompted another round of debate over capitalism versus socialism. The headline number is striking: 43 percent of Americans now view socialism positively, the highest share recorded.

Yet socialism still trails capitalism, which 55 percent view positively, and free enterprise, at 77 percent. Small business leads the field by a wide margin, earning a positive rating from 95 percent of Americans. Big business is the outlier at 35 percent.

Chamber of Commerce President Suzanne Clark was on Squawk Box earlier this week as part of their Free Enterprise Tour.

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Apollo’s “Daily Spark” had a nice blurb last week featuring the “Everywhere Millionaire.” Here’s what they said:

The income that lifted America’s top 1% did not come mainly from tech or Wall Street, according to The Everywhere Millionaire. More than half of the rise in the top 1% income share since 1985, 5.8 of 10.5 percentage points, flowed through pass-through businesses, see chart below.

The authors, Owen Zidar and Eric Zwick, counted roughly 3 million wealthy private business owners, with average net worth near $25 million, running law firms, car dealerships, medical practices, commercial contractors and regional restaurant chains, the kind …

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Congress is looking at targeted, bipartisan reforms to make the tax code work better for taxpayers. That focus creates an opportunity to address the outdated rules governing S corporations.

S corporations are America’s most popular business structure, with more than 6 million businesses employing tens of millions of Americans. Yet one of the basic rules governing them has been frozen for more than two decades. An S corporation may have no more than 100 shareholders, a limit that increasingly gets in the way as successful businesses seek to expand their employee-ownership.

The good news is that lawmakers already have two ways to …

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Senators Elizabeth Warren and Bernie Moreno recently proposed lifting the Social Security wage cap to address the program’s pending insolvency. It’s the lazy solution (i.e., throw more money at a problem, declare victory, move on) and also the wrong approach.

Tax expert (and friend of the podcast) George Callas has an excellent writeup on this, along with his thoughts on what Congress should actually be considering.

Nixing the cap would impose a massive marginal tax increase (12.4 percent) on wages above the current $184,500 threshold. That increase would come on top of existing federal, state, and Medicare taxes, and apply …

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