Many Americans think it is, but socialism is something completely different. In socialism industry and commerce are nationalized and the state controls the production of consumer goods; redistribution, on the other hand, is an AFTER-MARKET remedy for inequality – it is perfectly capitalist, which is why all capitalist nations, including us have had it for decades.
Supply-side economics, tax cutting and curtailing social service spending has been the agenda for 28 years. The result is more ineuqality, more insecurity, stagnant wages, and underfunded schools and a deteriorating infrastructure.
Over the past three decades insecurity has been on the rise and inequality has skyrocketed to record levels. While the average family works harder and longer with more earners, tens of millions are uninsured and at risk of economic calamity, the rich have made of with an ever increasing share of income. Brought to you courtesy of Bush, Reagan and the supply-side gospel.
The welfare state, a broad concept encompassing public education, social security, Medicare, Medicaid, etc…, is needed because the market cannot ensure the universal provision of a good or service and cannot function efficiently unless 4 assumptions, called the “standard assumptions,” hold.
Joe, we’re already taxed for our success, and always have been. There’s nothing new or socialist about Obama’s tax plan, he just wants to make slight changes to the bracket system we already have.
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Why redistribution is NOT socialism
Posted by: Kim Beckers | Comments (0)Many Americans think it is, but socialism is something completely different. In socialism industry and commerce are nationalized and the state controls the production of consumer goods; redistribution, on the other hand, is an AFTER-MARKET remedy for inequality – it is perfectly capitalist, which is why all capitalist nations, including us have had it for decades.