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from The Heritage Foundation
RIGHT BIAS, MIXED American conservative think tank based in Washington, D.C.
RIGHT BIAS, MIXED American conservative think tank based in Washington, D.C.
Comparing Free Enterprise and Socialism
The U.S. economic system today is neither free enterprise nor socialism. It is a hybrid of free enterprise and socialism with a strong element of crony capitalism. Socialism has a century-long record of failure and has been tried many dozens of times. It is arithmetically impossible to pay for the progressive agenda by taxing. In addition to being ethically superior to socialism, free enterprise has a record of increasing incomes and reducing poverty.
Elizabeth Warren’s "Wealth Tax" Has Three Strikes Against It – Here’s Why
The Constitution does not specifically empower Congress to adopt a wealth or asset tax. Such a tax creates economically destructive distortions by artificially diverting capital from investment to consumption. This planned redistribution of wealth may result in a more equally divided pie, but rich and poor alike would end up with smaller pieces in the longer term.
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from The Spokesman-Review
Newspaper in Spokane, Washington
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