Among the developed nations, the United States has one of the lowest tax rates. The U.S. also has the greatest concentration of wealth among industrialized nations and the lowest mobility making it difficult for low income people to move to middle and high income status.
As it turns out, a strong social sector is essential for the financial well being of families and for a thriving economy. Take Denmark the highest taxed country, for example. While its minimum wage is three times that of the U.S., its unemployment is only 4.1%. It provides universal health care, early childhood education for all children, and a modern public rail network. At the same time, its citizens have high mobility, and it's private industry is thriving.
All developed countries combine both a social sector and private enterprise. Aspects of both socialism and capitalism are part of their economies. The question is not whether one or the other is good or bad. Rather the question is how to organize and regulate both of these aspects of the economy to provide financial security and opportunity to all families and citizens. When a country gets both the social and market based aspects of its economy right, its families and its economy thrive. When it gets it wrong, its citizens and its economy suffer.
Read the column in the Aitkin Independent Age "Tea Party suffers from mass myopia" by David Strand, Chair of the Aitkin County DFL.
As it turns out, a strong social sector is essential for the financial well being of families and for a thriving economy. Take Denmark the highest taxed country, for example. While its minimum wage is three times that of the U.S., its unemployment is only 4.1%. It provides universal health care, early childhood education for all children, and a modern public rail network. At the same time, its citizens have high mobility, and it's private industry is thriving.
All developed countries combine both a social sector and private enterprise. Aspects of both socialism and capitalism are part of their economies. The question is not whether one or the other is good or bad. Rather the question is how to organize and regulate both of these aspects of the economy to provide financial security and opportunity to all families and citizens. When a country gets both the social and market based aspects of its economy right, its families and its economy thrive. When it gets it wrong, its citizens and its economy suffer.
Read the column in the Aitkin Independent Age "Tea Party suffers from mass myopia" by David Strand, Chair of the Aitkin County DFL.
