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Home Depot founder says socialism destroyed capitalism: ‘Nobody works. Nobody gives a damn’

President Joe Biden delivers remarks on the Inflation Reduction Act in the State Dining Room at the White House on Thursday, July 28, 2022, in Washington, D.C. (Yuri Gripas/Abaca Press/TNS)
January 06, 2023

In a recent interview with The Financial Times, Bernie Marcus, 93, said “I’m worried about Capitalism. Capitalism is the basis of Home Depot [and] millions of people have earned this success and had success.”

Marcus continued his thoughts on what he views as the rise of socialism in America by stating, “Nobody works, nobody gives a damn. Just give it to me. Send me money. I don’t want to work- I’m too lazy, I’m too fat, I’m too stupid.” Marcus also asserted that President Joe Biden “is the worst president in the history of this country.”

Biden’s policies have proven divisive in political and business circles, garnering accusations of socialist leanings. Biden recently denied these sentiments while speaking at Jones Elementary in Joliet, Illinois in November of 2022.

According to The Hill, when Biden was confronted with protesters holding signs labeling him a socialist, he said, “Give me a break. What idiots.” Biden was speaking in address of what he viewed as threats to American healthcare under proposed Republican policy, citing Sen. Rick Scott’s (R-FL) suggestion to sunset government programs every five years, which would require a vote to extend Medicare and Social Security.

Despite Biden’s focus on Healthcare, those who oppose his policies cite skyrocketing inflation and energy crises as their primary concerns. Rep. Mike Rogers (R-Al) posted a column on March 11, 2021, singling out Biden’s canceling of the Keystone pipeline, cessation of drilling on federal lands and the removal of sanctions on Russia’s Nord Stream II pipeline as causative factors to the gas price spike Americans grappled with in the past year.

Inflation has hounded Americans for much of 2022, rising to levels not recorded since the 1980’s. Of price increases, housing has been the starkest rise on the CPI, with a 7.1 percent annual increase, while food prices have increased 10.6 percent.

Biden’s initiatives, including stimulus checks, combined with supply chain issues and pandemic difficulties have been blamed by many for these increases. However, November of 2022 marked the first decrease- from 9.1 percent in June to 7.1 percent, lending hope inflation will continue to decrease.

Retired, Marcus now heads The Marcus Foundation, which pledged to donate at least half his fortune to good causes through The Giving Pledge, set up in 2010 by Warren Buffet, Bill Gates and his then-wife, Melinda Gates. His donations include autism, stem cells, cancer research and military veteran’s causes.

In response to his statements, a Home Depot spokesperson told Business Insider, “Our co-founder Bernie Marcus left The Home Depot more than 20 years ago, and his views do not represent the company.”