Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
Bernie Sanders supporters are quick to make clear that their guy doesn’t want to turn America into Cuba or Venezuela or the old Soviet Union. By “democratic socialism,” the US senator from Vermont means Scandinavia, more or less. And what’s wrong with that? The Nordic nations are pretty nice. Even President Trump has conceded that Norway produces a quality immigrant.
But does Sanders really want to import Scandinavian “socialism?” He brags that his universal health-care plan eliminates patient cost-sharing. But Scandinavia has it. Sanders wants to raise a lot of revenue through heavy taxes on business and investment. Scandinavia doesn’t. Sanders has a big problem with billionaires. Scandinavia doesn’t. Indeed, as I have written, “The egalitarian Nordic nations have as many billionaires, relatively, as the US and more concentrated wealth, at least as measured by the share of wealth controlled by the top 10 percent.”
I could go on and on, mentioning how the Nordics score highly in the conservative Heritage Foundation’s Economic Freedom Index, especially when it comes to government regulation. They’re also free traders, unlike Sanders, who opposed the North American Free Trade Agreement in the 1990s and its successor agreement today. As a JPMorgan analysis cautioned: “Copy the Nordic model if you like, but understand that it entails a lot of capitalism and pro-business policies, a lot of taxation on middle class spending and wages, minimal reliance on corporate taxation and plenty of co-pays and deductibles in its healthcare system.”