Monday, June 30, 2014

The Economy - Socialism

Socialism doesn't work in the long run. Why, because the private economy does not produce enough to fund it. You can take all the money the "rich" make, and it will not be enough to fund the cost. This is a fact in every country. In the U.S. the total income for the top 10% of taxpayers is about $3.8 trillion. Federal government spending is $3.6 trillion. So you could just take all the money the rich make and pay the bills (and have a bit left over for a rainy day fund). The problem is that you can only do that once because you have just bankrupted the to 10% of income earners and killed the U.S. economy! Plus, who is going to want to make any money if the government takes it all. Socialism will always collapse because it never has enough money to pay for it. What is the solution? A free market, law abiding, and a small and limited government economy!

What do you think?