Socialism is on the rise.
Not only are a growing number of young people sympathetic to the idea, but many politicians are actively pushing policies to advance it.
But the question many Americans are asking is, what is socialism and how will it impact me?
At the base level, socialism simply means strict government control over the economy. Think government-run health care, government mandated wage requirements, and more restrictions and regulations on private businesses.
Oh yeah–one more thing. All this government control also means a lot more taxes to pay for it.
Although socialism and its programs are pursued in the name of promoting equality, the outcome is devastating for everyone it touches. Socialism’s sky-high taxes, poor health care, choice restrictions, supply shortages, lackluster innovation and more government rules will shackle individual freedom.
Socialism dismantles the very mechanisms of our current free market system that promotes progress and economic advancement: competition and individual freedom.
Unfortunately, we’re seeing this movie starring socialism play out in front of our eyes.
Venezuela was once one of the most prosperous countries in South America. But years of socialism has left it a shadow of its former self. People are starving, infrastructure is crumbling, the currency is collapsing and the rule of law is dissolving.
In short, socialism takes. It takes entrepreneurial opportunities. Takes better standards of living. Takes upward mobility. Takes innovation. And takes economic stability.
On the flipside, free enterprise and capitalism does just the opposite: it creates. Creates jobs. Creates wealth. Creates higher wages. Creates economic growth. And creates the opportunity to achieve the American Dream.
The decision is yours America. Do you want an economic system that takes or one that creates? The choice couldn’t be more clear.