God is above all and rules over all (Matthew 6:33; Daniel 2:21; 4:17; 4:34-35). We should obey laws of the government and be good citizens (Romans 13:1-2), because God establish authority for our benefit (1 Peter 2:13-15). It is the government’s responsibility to be rulers over us, for example to collect taxes, keep the peace, etc. (Romans 13:1-8).
However, God did not teach us to be involved in politics, but to be involved as a light to the world (Matthew 5:16). Capitalism, if done correctly by moral people, is good where good people have the liberty to do good works and misbehaved people can do the least harm. This is rooted in Genesis 1:28, where we are given the order to subdue the earth and have dominion over it. However, we are not to be involved in greed, which seems to be a major factor in some circles of capitalism. Socialism is a negative/decline movement where it teaches that economics drive human history; however, the Bible opposes this as it is God who controls the rise and fall of nations (Daniel 4:17).
The gift of God is that we can rejoice in the wealth we have received as a result of laboring in work (Ecclesiastes 5:18-19). Socialism is refuted by the Bible again, as it says “The one unwilling to work may not eat” (2 Thessalonians 3:10). We serve God with our private resources (Matthew 25:14-30). We are to obey God instead of man when human laws conflict with the Bible (Acts 5:29). People are ultimately accountable to God, but not the government (Hebrews 4:13), and each person has an obligation to do what is right in God’s eyes (Acts 4:29; 1 Corinthians 10:13).
Living a life honoring the Lord God is freedom, especially without government interference (1 Timothy 2:1-2). Government is established to rid humans of sins (Romans 13:1-4), and societies do not function correctly without God’s Laws (Proverbs 14:34; 29:2). Christians should pray for their leaders (1 Timothy 2:1-4). If we are to vote for a leader, it must be someone who is led by God in their work (1 Samuel 12:13-25); otherwise, we should not vote. Violating marriage, family, life, or faith matters (especially pertaining to Biblical standards) are grounds for dismissing a candidate from our vote (Proverb 14:34). We as people should pay our taxes, whether low or high (Matthew 22:15-21; Romans 13:6-7). Leaders in churches and government organizations should be godly, moral, and ethical (1 Timothy 3:1-13; Titus 1:6-9).