Poster of the Day: Socialism
HT: Warren Smith
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Saturday, July 14, 2012
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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27 Comments:
Nice cartoon but I think its blunt message would be even more accurate substituting "Etatism" for "Socialism".
Here is the Socialist USA 2012-2013 Economics Platform. Many of these ideas look familiar. Hmmm
Buddy-
I stopped reading their platform after "decentralized and democratically determined economic plan." I don't think they know what "decentralized" means.
Slight variation to make message more clear (not my art)
http://www.facebook.com/photo.php?fbid=342569512486314
"We call for a full employment policy. We support the provision of a livable guaranteed annual income."
Would it be less expensive to just cut a check to every one based on the federal poverty limit and then do away with social security and other transfer payments?
Here is $10,000. Find some roommates or get a real job if you want to live better ...
http://www.nowandfutures.com/grins/g3/socialism_explained.jpg
Mandatory for all but those in charge of enforcing socialism.
Geez, the socialists had their own little enclave straddling the Urals, almost 300 million in number, but maybe EVERYBODY has to be part of the program in order for it to work.
"Mandatory for all but those in charge of enforcing socialism."
some animals are more equal than others.
-orwell
This is a comment made today by Obama:
"If you’ve got a business -- you didn’t build that. Somebody else made that happen"
http://1.usa.gov/NPOIbx
This comment has been removed by the author.
The way the word "socialism" is used in this country seems classic propaganda pin pointing. Whether it's traffic lights, fire departments, air traffic control, auto insurance, water treatment or a carrier group in the Red Sea, there isn't a single American that isn't an enthusiastic and practicing socialist. Pin pointing demands a binary-trap that reduces the complex to the absurdly simple. Good for propaganda; not so much for actually understanding things. IMO.
Sorry folks but the US looks more and more as if it is going towards National Socialism, not the International Socialism that the poster is implying. That said, the slogan and the idea behind implementation is the same.
Like the mandated ethanol program?
Look for socialized mandated ethanol to become very expensive--the corn crop is weak this year. Unintended consequences galore!
http://www.consumerenergyreport.com/2012/07/13/poor-corn-crop-will-have-major-impact-on-ethanol-market/#comment-122180
Socialism causes much more damage in the U.S. than in Europe, because there's more earned wealth in the U.S. compared to inherited wealth in Europe.
French socialism:
"The new socialist government said it plans to increase taxes on second homes...hitting both foreigners with homes in France and ex-pats living elsewhere.
Under the proposals, tax on rental income would rise from 20 per cent to 35.5 per cent and capital gains tax (CGT) on property sales would rise from 19 per cent to 34.5 per cent. The extra 15.5 per cent in each case is being labelled a "social charge".
******
Hollande's (new president of France) proposal would slap a 75 percent tax rate on anyone making more than 1 million euros a year, a huge jump from the current top rate of 41 percent...a new 45 percent tax rate for those earning more than 150,000 euros ($195,000) a year....It would also reinstate some wealth taxes Sarkozy got rid of.
Meanwhile, the "progressives" continue to pass legislation that imposes their moral values, and the costs of those values, on the rest of us.
Huge annual federal deficits are bad enough. However, there are also huge state and city deficits (e.g. San Francisco California).
Total govt expenditures to gdp, incl state & local, and GAAP
Hollande's (new president of France) proposal would slap a 75 percent tax rate on anyone making more than 1 million euros a year, a huge jump from the current top rate of 41 percent...a new 45 percent tax rate for those earning more than 150,000 euros ($195,000) a year....It would also reinstate some wealth taxes Sarkozy got rid of.
I guess that we will see an exodus of high earners from France. It is just as well because the failed experiment needs to end sooner rather than later.
Will the E.U. recession get much worse?:
French economy stumbles as business morale dips
Jul 9, 2012
France's central bank said it expects the euro zone's second largest economy to have shrunk in the second quarter...leaving the near 2 trillion euro ($2.5 trillion) economy - which posted zero growth in the first three months of the year - on the brink of recession.
Warren Buffett: US Economic Growth Slowing, Europe Slipping 'Pretty Fast'
12 Jul 2012
Warren Buffett has changed his view on the U.S. economy.
Buffett says the general economy's growth has "tempered down" so that it is now "more or less flat."
Buffett also says things are beginning to "slip pretty fast" in Europe.
He's confident "they'll get it worked out" by ten years from now.
"Here is $10,000. Find some roommates or get a real job if you want to live better"...
We already do itchy according to the Cato Institute: Federal welfare spending alone totals more than $14,848 for every poor man, woman, and child in this country...
@juandos,
We give them the money, but we don't do the 2nd part which is to say you have enough money for food, clothing, and shelter ... deal with the rest on your own.
"...there are also huge state and city deficits (e.g. San Francisco California)"...
Did you by chance check out this LA Times story?
Bankruptcy choices highlight fiscal pain of cities nationwide
Collapsing property values and entrenched unemployment have pushed cities and counties to the economic brink. Tax receipts in some locales have shrunk more than 20% over the last three years, and soaring pension costs exceed funding levels by as much as $3 trillion nationwide.
As the California cities of Stockton, Mammoth Lakes and, most recently, San Bernardino show, the temptation to flee to Bankruptcy Court is growing. Last year, four municipalities nationwide also applied for so-called Chapter 9 protection, including Jefferson County, Ala., which eclipsed Orange County as the largest such filing in U.S. history. Meanwhile, the Bay Area city of Vallejo emerged from its own reorganization.
"but we don't do the 2nd part which is to say you have enough money for food, clothing, and shelter"...
Well itchy that part was never written into law...
From Josh Kimbrell: In 1965 President Lyndon B. Johnson engaged in progressive social engineering on a scale never before known in American history. Johnson’s landmark entitlement program, the Great Society Act, legalized organized theft on a grand scale, as it implemented the nearly insolvent Medicare and Medicaid programs that still beleaguer our troubled nation. President Johnson’s massive wealth redistribution scheme was vote buying in its worst form, and it worked in solidifying liberal voting blocks in minority communities. Though Johnson’s plan worked in solidifying support of women and African-Americans through his socialist social engineering, history has demonstrated that his policies have nearly destroyed entire American communities...
Got keep buying those votes...
Is there a clause in the Constitution mandating the use of 'entitlement' for legislation?
"Hollande's (new president of France) proposal would slap a 75 percent tax rate on anyone making more than 1 million euros a year, a huge jump from the current top rate of 41 percent...a new 45 percent tax rate for those earning more than 150,000 euros ($195,000) a year....It would also reinstate some wealth taxes Sarkozy got rid of. "
keep in mind:
france does not tax global income. all you need to do is move your money offshore and you pay 0 tax.
the very wealthy in the eu pay far less tax than those in the us. you just plunk your money in switzerland, andorra, or the caymans and the french government never sees it again.
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