Is socialism a giant ponzi scheme?

Could it be that socialism is a fraud, a giant ponzi scheme that benefits those at the top?

Glen Reynolds seems to think so:

It is a common misconception that socialism is about helping poor people.?Actually, what socialism does is create poor people, and keep them poor. And that?s not by accident.

It is by design and deliberate. Keep people poor so they are grateful for the state “helping them” while those at the top help themselves.

Under capitalism, rich people become powerful.?But under socialism, powerful people become rich. When you look at a socialist country like Venezuela, you find that the rulers are fabulously wealthy even as the ordinary citizenry deals with empty supermarket shelves and?electricity rationing.

The daughter of Venezuela?s socialist ruler, Hugo Chavez, is the?richest individual in Venezuela,?worth billions of dollars, according to the Miami-based Diario Las Am?rica.?In Cuba, Fidel Castro reportedly has lived ? pretty much literally ? like a king, even as his subjects dwelt in poverty.?In the old Union of Soviet Socialist Republics, as Hedrick Smith reported in his?The Russians,?the Communist Party big shots had lavish country houses and apartments in town stocked with hand-polished fresh fruit, even as the common people stood in line for hours at state-run stores in the hopes of getting staples.

Venezuela is the current, modern case study of the failure of socialism.

George Orwell explained the phenomenon in his?Animal Farm?many decades ago. But people keep falling for it: Like Ponzi schemes, socialism is an?evergreen form of fraud,?egged on by suckers eager to believe the lies hucksters tell them.

Which brings me to Bernie Sanders. The Washington Post recently ran a piece?originally entitled “Bernie Sanders??plans?have surprisingly small benefits for America?s poorest people.” Among other things, it noted that ?in general, though, Sanders??health?care plan would benefit affluent households more than it would poorer ones.?

Likewise, a paper from the left-leaning Brookings Institution notes that the biggest beneficiaries of Bernie?s free-college proposal would be?rich kids:?”Families from the top half of the income distribution would receive 24% more in dollar value from eliminating tuition than students from the lower half of the income distribution.?

While the left likes to talk about 1984, Animal farm has come true more often that 1984 ever will. Labour seems to be promoting similar policies subsidising the wealthy children ahead of others. University graduates go on to become the wealthiest citizens in the country, and yet Labour wants to subsidise their study.

Socialism never delivers. Someone eventually has to pay the bill.


– USA Today