Question by gws35: Why can Canda, Germany, and Sweden afford universal health care, and we can’t?
Take your pick from the following list of nations, and decide which ones have a successful form of socialism, in your opinion:
All of these countries, other than France, have a trade surplus. France had a trade surplus up to year 2000.
Successful socialist nations DO NOT depend on imports, like the USA does. Or if they do, they export even more to pay for them and maintain a positive trade surplus.
Socialism is a LUXURY reserved for nations that successfully sell their products to the rest of the world.
Which is oddly a very capitalist thing to do for such supposedly socialist nations.
Euro/Canadian “socialism” is a social agenda, not an economic policy.
This brand of “socialism” relies on a healthy CAPITALIST economy to pay for the social programs.
They need the income from exports to sustain the high taxation of their citizens.
And the citizens depend on the trade surplus to generate enough income for them live on after the high taxation.
The USA has way too many imports to adopt this style of socialism. To afford the luxury of such generous social programs, there must be a net flow of money into the nation to pay for it. Instead, we have a net flow of money out, to the tune of ONE TRILLION DOLLARS a year. The USA, UK, Australia, and New Zealand have had much less generous social programs, but they are deeply in debt because they all have a trade deficit.
Why do so many people advocate universal health care or even socialism, when we have such a staggering trade deficit?
apeman, yes that was kind of my point.
Their “lopsided” trade balance is a SURPLUS.
Our trade balance is a DEFICIT.
It’s the difference between positive and negative.
We couldn’t possibly afford it with a negative trade balance, so it’s pointless to debate it anyway, from a purely mathematical perspective. The numbers just don’t add up because our trade balance is negative, while theirs is positive.
Answer by RJC
62% income tax rate.
Know better? Leave your own answer in the comments!