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Friday, 13 December 2019 08:22

Socialism amounts to a ‘failed experiment’

Written by  Staff Writer
To the editor,
Many Americans are embracing socialism. Taxing the rich will only raise a small portion of the $35 trillion needed to pay for Medicare for All, Social Security expansion, free college, paid family leave, student debt forgiveness, etc.
Independent analysts say middle-class Americans making $75,000 to $100,000 a year would pay $13,000 in additional taxes each year to pay for all the “free” stuff Democrats are promising.

The “free” stuff Democrat presidential candidates are promising overwhelms benefits in France. Yet in France, the true cost of a large welfare state has rioting French workers laboring more than six months a year to pay their tax bill — twice as long as Americans.

Socialism is a failed experiment that has laid waste to economies around the world.

The Venezuelan government printed more money in an attempt to compensate for massive spending increases. Prices doubled every few weeks. Just like Venezuela did, Rep. Alexandria Ocasio-Cortez, D-N.Y., wants to require the Federal Reserve to print more money for her spending proposals.

Medicare for All will outlaw private health coverage, including employer-sponsored coverage, for about 181 million Americans. It also will abolish Medicare, Medicaid, the Children’s Health Insurance Program, Tricare, and Federal Employees Health Benefits Program. It will lead to slower care, fewer doctors, more than a 40 percent reduction in doctor payment rates and massive new taxation.

Doubling all federal individual and corporate income taxes would be insufficient to finance Democrats’ unrealistic plans. They are pandering to voters trying to buy votes.

Larry Holterman


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