1 thought on “Is socialism the answer?”

  1. Posted 10/12/2018 at 16:40 | Permalink

    In an argument, the left constantly point towards places such as Denmark, Sweden, Norway as examples of successful “Socialist” countries. However, according to the definition, these countries are not Socialist countries because the government does not own the means of production or redistribute wealth. Socialist as in the traditional meaning of the collective ownership of the means of production? No. Nordic countries are capitalist countries where comprehensive measures are taken to promote social justice and equality (both economic and societal). Many view Sweden as socialist. However, the country is in fact very pro capitalism, but does it with redistribution through taxes. According to John Henschen, personal income is taxed at a rate of 61.85 percent, plus a 7 percent social security tax rate for employees. On top of these taxes, Sweden also has a 25 percent consumption tax. To conclude, the Nordic countries are capitalist countries with a high corporate tax rate.

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