Friday, May 27, 2016

Socialism's Failure Unfolding In Many Countries

News
Citizens across the globe struggle to understand the soundness of 'free' money and services as the great socialistic experiment enters its final years. The game ends once the private sector realizes hard work doesn't pay which, in turn, means governments inevitably run out of other people's money (OPM) spend as capital flees. Venezuela, a country rich in oil, is learning these principles the hard way - through shortages, starvation, and other nasty consequences that's turning "human beings into savages" and destroying cooperation across society.

It now appears Switzerland, a country established from a tax revolt and once haven for capital, is ready to make a similar mistake. Does giving every adult $2,500 a month improve society or bring it down as it disincentives hard work and drains public coffers? History supports the latter outcome.

Headline: Will Switzerland give every adult $2,500 a month?

Switzerland is considering giving every adult citizen a guaranteed income of $2,500 a month. No questions asked. The country is holding a national referendum on the introduction of a basic income on June 5. Its supporters want the government to guarantee each person a monthly after-tax income of at least 2,500 Swiss francs ($2,520). Those in work and earning less than that would have their pay topped up. Those out of work would be handed the full amount.


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