The Trump White House this week released a 70-page, official report from Council of Economic Advisors (CEA), warning against the rise of socialism nationwide, and around the world.
Entitled “The Opportunity Costs of Socialism,” the CEA’s 45-person staff wrote the report as a team, under the authority of the executive agency’s chairman Kevin Hassett. They conclude that the proposed policies being espoused by progressive Democrats in Congress — such as Medicare for All and re-regulation of big businesses — could lead the country’s economy to a place similar to those occupied by the former Soviet Union, Cuba, China, and Venezuela.
Furthermore, the report stated that Nordic countries like Sweden and Denmark have lower per capita income, business taxes, and consumption as well as higher taxes on the middle class and lower class. Before becoming the CEA’s conservative chairman, Hassett formerly worked with John McCain, Mitt Romney, and the American Enterprise Institute.
President Trump has previously criticized socialist policies at the United Nations General Assembly in New York City, attacking and criticizing the leftist ideology, as well as Venezuela’s leadership under Nicolas Maduro during its current political crisis.
On October 10, Trump submitted an op-ed piece to USA Today that saw him take a stance a single-payer universal healthcare system, as well as other policies being proposed by progressive politicians, by calling them “socialist”.
As the White House publishes controversial and highly politicized criticisms of socialism, support for universal health care as well as tuition-free and debt free public higher education are on the rise nationwide. Views supporting socialism are rising amongst young people between the ages of 18 to 35 years old. Leftist organizations such as the Democratic Socialists of America have seen massive membership increases between 2016 and 2018 with more than 50,000 members after Bernie Sanders’ presidential run as well the primary victory of Alexandria Ocasio Cortez.
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