The winner-take-all system

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Electoral College and the winner-take-all system at the state level that gives all of a state’s Electoral College vote to whichever presidential candidates wins the most voters in a state. This system can lead to results like 2000 and 2016 when the candidate who received the most popular votes (Al Gore and Hillary Clinton, respectively) lost the presidency to the candidate who received more Electoral College votes (George W Bush and Donald Trump, respectively).

Is this system a good way or a bad way to select a president? Why? Should the Electoral College remain the same, or be reformed? Explain your opinion.