3 comments

  1. What you said is true, however, there are elements in our country pushing to slowly start taking over businesses and other social programs. I.e. flock cameras to watch our every move. Packing the SC, allowing non citizens to vote, get drivers licences when they can not read or write english. Defunding police.

    Your definition of socialism is too narrowly focused.

    Make a positive difference in someone’s life today. Bill Mitchell

    Like

    1. My definition is the accurate definition. The closets thing we have of Socialism is the Trump administration buying stakes in private company and forcing some to share profits. In other words exercising more control over the businesses and what they produce, sometimes under the guise of national security. That’s what we should worry about.

      Like

  2. A self-employed individual earning $100,000 in New York City pays a marginal income tax rate of 47.176% (22% federal, 6% state, 3.876% city, 15.3% FICA & FICA-Med combined). Assuming the worker spends all net income (the 52+% left after taxation), there is a 8.875% sales tax rate – New York State sales tax: 4.0%, New York City local sales tax: 4.5%, METRO surcharge: 0.375% – so, the worker gets to spend about 47% of their wages, after all taxes are applied!

    Here, the government may not own the means of production, the technical definition of socialism, but when marginal tax rates approach/exceed 50%, the governments certainly have an “ownership interest” in your income.

    I’m reminded of:

    Shakespeare: “A rose by any other name would smell just as sweet”, or perhaps

    James Whitcomb Riley: “When I see a bird that walks like a duck and swims like a duck and quacks like a duck, I call that bird a duck”.

    Like

Leave a Reply