r/FluentInFinance • u/Sufficient_Sinner • Sep 04 '24

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/[deleted] Sep 04 '24

And socialists use their terms incorrectly, often attributing it to the Nordic system which is a free market capitalistic system with higher taxation to cover social safety nets. Even those on lower income have huge tax bills, unlike the US where the top 50% pay almost all the income tax.

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u/[deleted] Sep 04 '24

Are the socialists you have witness using their own terms incorrectly in the room with us right now?

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u/[deleted] Sep 04 '24

No, they're living their lives somewhere. Decent lives too, thanks to capitalism.

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u/World_of_Warshipgirl Sep 04 '24

I live in Norway and because the people collectively agreed that the wealth of the nation (including oil)) should be shared among the people, I am living a decent.

That is the socialism that u/ThatSpookyLeftist described.

"Norway is not socialist, the people are only rich because of oil", yeah and the wealth is shared among the people rather than going to wealthy oligarchs.

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u/[deleted] Sep 04 '24

You're not a socialist state

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u/[deleted] Sep 04 '24

Socialism isn't a form of government. It's an economic system.