CNN can report accurately on their own- other leftists — when an election is at stake. Such is the case of left-winger Fareed Zakaria who called out Bernie Sanders for his distorted vision of the U.S. will be like Denmark if we follow his agenda. This took place during Zakaria’s monologue on Sunday.
Zakaria made mention of the fact that Bernie says billionaires shouldn’t exist and then explains that Sweden and Norway have more billionaires per capita than the United States.
Inheritance taxes in Sweden and Norway are zero, and Denmark’s is 15%, while ours are 40%.
Zakaria says Bernie is stuck in the ‘60s and ‘70s when those countries were trying to establish a socialist market economy.
They wised up, but not so with Bernie and his bros.
Sweden doubled their spending and their economy tanked.
Between 1970 and 1995, Sweden did not create a single net new job in the private sector.
In 1991, a free market Prime Minister reversed the damage. This continued throughout Europe.
They now have a lot of welfare and high taxes to pay for it, but they do have a free market. The taxes in their system fall disproportionately on the poor and middle class.
If we tried to do that in the USA, the middle class would be taxed over 55%. These European nations also pay a 25% VAT sales tax, much higher than our sales taxes.
Also, Zakaria noted that the top 10% in income in the USA pay 45% of all income taxes. In the Nordic countries, the top 10% pay 26% – 27%.
The American left seems unaware of it.
Our tax code is significantly more progressive than Europe’s. If we brought the Nordic system to the USA, we would have a free market but the poor and middle class would pay a lot more in taxes. As Zakaria says, it would be “very radical indeed.”
Our view is that Bernie isn’t stupid and he knows exactly what he’s doing. He’s lying to bring about communism without firing a weapon.
Watch:
Subscribe to the Daily Newsletter
