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Capitalism vs. Socialism: Facts vs. Opinion
Opinion: Capitalism is a corrupt system, where the rich get richer and the poor get poorer.
Fact: Capitalism has created more wealth for more people, than ever in the history of the world.
Fact: The poor in America are still richer than about 70% of the rest of the world.
My opinion: Capitalism in itself is not a corrupt system; people are easily corrupted and the system need not be replaced.
Opinion: Democratic Socialism is a better economic system for the US than capitalism.
Fact: Socialism is defined as “[a system] in which the means of production are owned and controlled by the [government],” and “[a system] in which there is no private property.”
Fact: This is what happened in the USSR, Cuba, and Venezuela, and it resulted in extreme poverty for all, except those in power.
Fact: The Nazis were the National Socialist German Workers’ Party.
Opinion: Many “Democratic Socialism” supporters really want the Nordic Model, not true socialism.
Fact: The Nordic countries do not practice socialism.
Fact: The Nordic countries practice capitalism with generous social programs.
Fact: I repeat, the Nordic countries do not practice socialism.
Fact: The Nordic countries had wealth (thanks to the free market) before implementing high taxes to pay for their social programs, such as healthcare and education.
Fact: It was not the government benefits that created wealth, but wealth that allowed the luxury of such generous government programs.
Fact: Income taxes in Nordic countries are as high as 61%. In the US, it’s 37% for top earners.
Fact: The Nordic countries all have a lower corporate tax rate than the US, which means they have a more free market economy than the US.
Fact: The Nordic countries are different than America.
Fact: The combined population of all the Nordic countries is less than the population of Texas, and size matters.
Fact: Almost every single Nordic country ranks far below the United States in terms of single-parent households. And families matter.
Fact: Nordic countries do not have the military capabilities to defend themselves without foreign assistance.
Fact: They rely heavily on the help of other nations, particularly the US.
Fact: Bears eat beets.
Fact: Most Nordic countries have no minimum wage law.
Fact: Nordic countries offer school choice, something typically supported by Republicans and opposed by Democrats.
Fact: Russia. Beats. Every. Nordic. Country.
Opinion: Welfare systems decrease incentives for citizens to work.
Fact: Since 1964, America has spent $22 trillion on anti-poverty programs, yet the percentage of citizens living at or below the poverty line has remained virtually the same; around 12%.
Fact: In the US, a person who receives a full package of welfare benefits can receive more than they would earn from a minimum wage job.
Fact: Sweden (viewed as a model welfare state by Democratic Socialists) had 16% unemployment among its young citizens, ages 15-24 in 2018. (The U.S. only had 8%.)
Fact: Sweden has also seen an increase in “early retirement” among young citizens, meaning they are opting to live off taxpayers rather than contribute as taxpayers themselves.
Opinion: Capitalism promotes greed.
Fact: Americans donated over $410 billion to charities in 2017 alone.
Fact: Americans donate more money to charities than any other country, almost twice as much as the next highest nation.
Fact: Capitalism only thrives when businesses offer a service or good that benefits their fellow man.
Opinion: Politicians touting socialism don’t use facts; they use opinions, emotion, promises of free stuff, and prey on people’s suffering.
Fact: I don’t need the government to take care of me.
My opinion: I sincerely believe you don’t either.
If your concern is for the poor, below are five excellent organizations that will gladly accept your money, time or talents in helping the needy. I’m sure they could use 60% of your income as well.
- Salvation Army
- Feeding America
- Catholic Charities
- Latter-Day Saint Charities
- Boys and Girls Clubs of America
Please share with the Millennial nearest you.
Published in Politics
Sure. Poverty in America is measured by the Census. It uses a component of family size, income (not including government provided benefits, but including cash welfare benefits) against a threshold that is set at three times the cost of a minimum food diet in 1963 and adjusted for family size. (see this link. and this one, and this one too.)
As the math works out it always hovers around 12%. This is because of the relationship to the costs of food is based on a 5 year historical look back and the income is set at present day.
Poverty in the US doesn’t mean privation. It is just the lowest sextile of the income distribution.
Don’t know if you are aware of this or not, but “cash welfare benefits” are provided by the government.
As opposed to non cash benefits, like housing assistance and food stamps.
Non cash benefits, like housing assistance and food stamps are also provided by the government, or rather the taxpayers.
You are missing the point Kay. She asked how poverty was calculated. I told her how.
The Census only uses cash government assistance in the calculation, not non-cash assistance or housing subsidies.
I wasn’t making a factual error that only cash welfare comes from the government.