Socialism defined: A socio-economic system where the political class maintains power by robbing Peter to pay for Paul’s vote. In its embryonic form socialists use the mechanism of taxation to transfer national wealth from producers (taxpayers and corporations) to favored constituent groups. Mature forms of socialism gradually move toward collectivism as control of national wealth is transferred from the private sector to government (Hat tip: Maxine Waters). Socialism in its tertiary phase requires the confiscation of all private property by which time the system is more properly known as communism.
The dangers of socialism to a free, capitalist republic include the following. 1) Loss of national identity as constituent groups are encouraged to put tribal grievences ahead of national concensus. 2) Erosion of national wealth as more people are moved from production (goods and services) towards distribution (government). 3) Loss of personal and economic liberty as the state becomes increasingly regulated. 4) The emergence of a new priveleged elite made up of party apparatchiks. 5) Lower standards of living when workers discover that additional effort is forfeit to the state in the form of taxes.
Been there, done that. Seen it before, no thanks.
