I believe in a progressive income tax, which means the richer you are, the more you pay in taxes. But the current taxation system in the US results in the rich paying far more in taxes than what is actually proportional.
I believe in capitalism, but not total economic anarchy. The farming industry suffers from the Tragedy of the Commons (something socialism really struggles with), which is why the US government actually pays farmers in the US not to produce. However, this comes at a cost: food costs more.
But if you absolutely despise overproduction, you should also hate socialism. With the lack of economic calculation, whomever is in charge of a factory must overproduce to appear productive. Look no further than the USSR, which while not technically socialism, suffered from the same issues as a totally socialist society. They literally couldn't even decide how much goods should cost without looking at the capitalist countries' prices.
Capitalism hasn't worked? Are you denying the incredible technological and medical achievements? The massive increase in wealth? Real income has been rising, contrary to popular belief. And please dont list things that capitalism has done wrong that can easily be blamed on government, such as imperialism. For example, mperialism was government- it relied on taxation, which is siphoned off private industry and not an example of capitalism.
Do you believe trade increases wealth?