Failure Of Socialism In America

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“The problem with socialism, is that you eventually run out of people’s money”, U.K. Prime Minister Margaret Thatcher proclaims (3). Socialism, which hails the idea of parity between all, is a dangerous idea that has recently began to crop up more and more in the United States. This concept allows for the production of goods and necessities to be shared by the community as a whole. Socialism spreads the wealth of citizens in hopes to attain equality. Because it does not reward hard work, have the same results as capitalism, and has negative impacts due to minimum wage, this threatening system will be the downfall of our country.
One reason Socialism is harmful to America is because the redistribution of wealth does not reward hard work. Kel …show more content…
Walter McLaughlin proves this with statistics concerning two countries (Denmark and Sweden) who have taken on the idea of socialism. He portrays the differences of income, unemployment, and poverty between America and these socialist nations. Under capitalism, the average income is considerably higher by an average of $15,000, and the unemployment and poverty rate is substantially lower (PAGE NUMBER). Ironically, socialist claim to be ending poverty through their distribution of money. But anyone can see these leaders are doing the exact opposite by increasing unemployment and poverty. Along with this, the Global Competitiveness Report of 2014-2015 exposed many undeniable truths in their last rankings (PAGE NUMBER/AUTHOR). This report highlights the countries and their rankings based off economical successes. It assesses the driving cause behind prosperity and productivity between 144 countries. In the results, the United States was ranked third just behind Switzerland and Singapore. The socialist countries appraised above did not even make the top ten. To complement the overbearing focal points of capitalism, America also outperformed these nations in education, training, and innovation. These facts cannot be ignored when America is deciding what direction to turn to. Socialism is only a downhill slope when it comes to the …show more content…
These impacts are explained through frustration of business owners claiming, "The minimum wage raises labor costs to the point where companies cannot afford to hire all the workers they previously did, since they have a limited amount of fund available with which to hire workers" (Kelly 3). This process of raising minimum wages so high that companies cannot hire workers is why socialism will not work. This was highlighted earlier when unemployment was discussed. If companies cannot hire, jobs are not available, which in turn increases unemployment; and by extension poverty. This chain reaction is all because the government desires equality between everyone. Once again, we ironically witness that they are achieving the exact opposite of what they promise to do. Instead of equality and more money for the poor, there are no jobs available. Additionally, if the minimum wage is raised, so is the price of the products and services being sold by various companies. This all together defeats the purpose of equilibrium due to citizens being required to pay for these things at skyrocketed prices. Furthermore, the idea of raising minimum wage is contradictory of itself. According to the State Minimum Wage Increase Graph of 2017, nearly half of the states have increased their minimum wage already. This can be explained through the idea of "natural
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