This is a great artical from 2004 that I found buried in Common Dreams, it was written by Thom Hartmann. Enjoy:

In early 1944, the New York Times asked Vice President Henry Wallace to, as Wallace noted, "write a piece answering the following questions: What is a fascist? How many fascists have we? How dangerous are they?"

Vice President Wallace's answer to those questions was published in The New York Times on April 9, 1944, at the height of the war against the Axis powers of Germany and Japan.

"The really dangerous American fascists," Wallace wrote, "are not those who are hooked up directly or indirectly with the Axis. The FBI has its finger on those. The dangerous American fascist is the man who wants to do in the United States in an American way what Hitler did in Germany in a Prussian way. The American fascist would prefer not to use violence. His method is to poison the channels of public information. With a fascist the problem is never how best to present the truth to the public but how best to use the news to deceive the public into giving the fascist and his group more money or more power."

In this, Wallace was using the classic definition of the word "fascist" - the definition Mussolini had in mind when he claimed to have invented the word. (It was actually Italian philosopher Giovanni Gentile who wrote the entry in the Encyclopedia Italiana that said: "Fascism should more appropriately be called corporatism because it is a merger of state and corporate power." Mussolini, however, affixed his name to the entry, and claimed credit for it.)

As the 1983 American Heritage Dictionary noted, fascism is: "A system of government that exercises a dictatorship of the extreme right, typically through the merging of state and business leadership, together with belligerent nationalism."

Mussolini was quite straightforward about all this. In a 1923 pamphlet titled "The Doctrine of Fascism" he wrote, "If classical liberalism spells individualism, Fascism spells government." But not a government of, by, and for We The People - instead, it would be a government of, by, and for the most powerful corporate interests in the nation.

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Vice President Wallace bluntly laid out in his 1944 Times article his concern about the same happening here in America:

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"If we define an American fascist as one who in case of conflict puts money and power ahead of human beings, then there are undoubtedly several million fascists in the United States. There are probably several hundred thousand if we narrow the definition to include only those who in their search for money and power are ruthless and deceitful. ... They are patriotic in time of war because it is to their interest to be so, but in time of peace they follow power and the dollar wherever they may lead."

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Finally, Wallace said, "The myth of fascist efficiency has deluded many people. ... Democracy, to crush fascism internally, must...develop the ability to keep people fully employed and at the same time balance the budget. It must put human beings first and dollars second. It must appeal to reason and decency and not to violence and deceit. We must not tolerate oppressive government or industrial oligarchy in the form of monopolies and cartels."