Category

Socialism

Category

I went to the bank yesterday to get a document notarized, and struck up a great conversation with the lovely associate manager, Roxana. Noticing an Eastern-European accent, I asked her about her background, and she said her family came to the United States from Romania in the 80’s, fleeing the Ceausescu regime. I mentioned that I don’t think many Americans know much about Romania, nor how truly evil Nikolae Ceausescu was. I asked her what…

Socialism is where the government owns or substantially controls the means of production and distribution of goods. (Cambridge Dictionary, Merriam-Webster) Nations like France, Germany, Sweden, Norway, Denmark, Canada… are capitalist nations. Please correct your friends when you hear them say they are socialist nations, because no, they are not. The vast majority of the largest producers in those nations are multinational corporations owned by private shareholders, and the profit motive is very much at work.…

The Washington Post’s Jeff Stein estimates that raising the marginal tax rate to between 60 and 70 percent on incomes above $10 million might raise as much as $720 billion dollars over a decade, or $72 billion per year. There are some 16,000 households that meet that criteria — fewer than 0.05% of all US households. Collectively, their taxable income was about $405 billion in 2016, on which they paid $121 billion in taxes. Current…