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Communism in theory is actually a great idea; everyone is equal and everyone shares the same stuff.
Actually, it's not a great idea even in theory. Some of us might find this idea attractive, but some of us don't. If you want to implement such idea, you must use force and therefore you inevitably need a violent revolution.
The problem lies in the core idea of equality. Communism is not about equal rules for everybody - in fact, it needs some authority to distribute the wealth among all citizens and the members of such authority has different rights than others.
Communism is about the equality of results, which is, at least for mankind, a nonsense. Some of us do wish to work 16 hours per day, some of do want to take risks and to create something significant. But not for the purpose of sharing between all of us, but for our self-interest, for our family etc. If you forbid the reason, the interest, you kill the incentive.
Well it eliminates the crippling poverty
Not true. As it demotivate people from being competitive and innovative, it ends up in general misery for everybody. You can't generate a good standard for everyone endlessly - communism works well for the beneficiary side of nation only in the first days, when the accumulated wealth is "fairly" distributed. But what about the next day - who will take risk, who will work hard for a revolutionary idea, who will manage others if his/hers reward will be the same as for those who contribute nothing or very little?
I agree that some mechanism to promote competition is essential.
It's called capitalism.
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