Democrats and the media are protesting that the socialist label doesn’t apply to them...what are they afraid of—the label or their own ideas?
...consider the Democratic agenda that is emerging from Congress and the party’s presidential contenders.
• Medicare for All. Sanders’ plan, endorsed by 16 Senators, would replace all private health insurance in the U.S. with a federally administered single-payer health-care program. Government would decide what care to deliver, which drugs to pay for, and how much to pay doctors and hospitals. Private insurance would be banned.
• Green New Deal. ...this would mean a complete remake of American electric power, transportation and manufacturing. ...as imagined by AOC, all of this would be planned by a Select Committee For a Green New Deal. Soviet five-year plans were more modest.
• guaranteed government job. ...no longer a fringe idea. Obama's Center for American Progres, supports a government job for everyone “to counter the effects of reduced bargaining power, technical change, globalization,”
• new system for corporate control. Warren wants a federal charter for businesses with >$1 B revenue that would make companies answer to more than shareholders. Employees would elect 40% of directors...radical redesign of corporate governance would give politicians and their interest groups new influence over private business decisions and assets.
• Vastly higher taxes. Sanders wants top death tax rate of 77%. AOC wants 70% tax rate on high incomes. Warren wants 2% “wealth tax” on assets >$50 million and 3% >$1 billion
Some readers might think this is all so extreme it could never happen. The leftward lurch of Democratic voters, especially the young, means the party could nominate the most left-wing presidential candidate in U.S. history. If other Democratic candidates oppose any or all of this, we’d like to hear them.
(Excerpt) Read more at wsj.com ...
