Would Socialism Work in America?
Many in America would like for us to believe that all of our problems could be solved if the rich would just share their wealth with everyone else. The following article from the popular "Ask Marilyn" column in the Parade magazine shows why this will never work.
—K. Bowman, Clarendon Hills, Ill.
The global money supply is about $60 trillion. (Economists call this figure the M3 value; it includes much more than currency.) Say that we take it all—which means that you and Bill Gates would have nothing in the bank—and then distribute it equally among every individual in the world, about 6.8 billion people. Each man, woman, and child would receive about $9000. So, if your household now has less than $9000 per person, you would gain. If you have more, you would lose.
"Ask Marilyn" August 23, 2009 | Parade.com
I do not know many American who would be happy with making only $9000 this year. I also do not know of anyone who could afford to hire others when their net worth was reduced to $9000. Socialism/Communism does not rid the world of poverty, it creates it. If everyone was worth $9000 we would all be living in poverty. We could only do this once and then our entire economy would be destroyed. Liberals have done a good job of demonizing the wealthy, but it is the wealthy that create jobs. It is the wealthiest 2% of our population that pay for more than 50% of the taxes.
Sunday's Column - August 23, 2009
If all the money in the world were redistributed so that everyone had the same amount, what would it be?—K. Bowman, Clarendon Hills, Ill.
The global money supply is about $60 trillion. (Economists call this figure the M3 value; it includes much more than currency.) Say that we take it all—which means that you and Bill Gates would have nothing in the bank—and then distribute it equally among every individual in the world, about 6.8 billion people. Each man, woman, and child would receive about $9000. So, if your household now has less than $9000 per person, you would gain. If you have more, you would lose.
"Ask Marilyn" August 23, 2009 | Parade.com
I do not know many American who would be happy with making only $9000 this year. I also do not know of anyone who could afford to hire others when their net worth was reduced to $9000. Socialism/Communism does not rid the world of poverty, it creates it. If everyone was worth $9000 we would all be living in poverty. We could only do this once and then our entire economy would be destroyed. Liberals have done a good job of demonizing the wealthy, but it is the wealthy that create jobs. It is the wealthiest 2% of our population that pay for more than 50% of the taxes.
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