@Ben L
Socialism may be a dirty word, but capitalism isn’t all that great either. Wealth creates further wealth. So whilst there are 10s of millions who barely break even every month, the wealthiest are only getting wealthier.
And with corporate lobbying the way it currently is, it allows the richest to ensure laws are enacted to allow for them to preserve their wealth.
Wealth disparities have widened over time. In 1989, the bottom 90 percent of the U.S. population held 33 percent of all wealth. By 2016, the bottom 90 percent of the population held only 23 percent of wealth. The wealth share of the top 1 percent increased from about 30 percent to about 40 percent over the same period.
Which is why certain socialist policies may lend a healthy balance within an otherwise capitalist system.
It’s not a question of jealousy, it’s that 99.9% of individuals would benefit from a policy that perhaps may make it a little more difficult for a single person to buy a $400m yacht, but would mean another million children don’t have to go bed hungry at night.
These policies work in European countries, yet Americans are so keen to argue against them, when the country would certainly benefit from them.
Take the UK’s NHS as an example. Universal healthcare no matter how rich or poor you are. It may not be perfect but it affords each and every individual the security of knowing if their health were to take a turn for the worse, they were to break a leg or have a complicated north, they’ll be taken care of without the threat of falling into debt. Paid for through taxes which means the wealthy pay in disproportionately.
Bottom line is the current system is failing millions to the benefit of the few. This isn’t just my humble opinion. But also Ray Dalio a man worth $17 billion who only stands to lose by socialist reforms.