How Socialism Ruined My Country

How Socialism Ruined My Country

Is Bernie Sanders right? Are people living under socialism better off? Brazil is a good case study. Felipe Moura Brasil, a journalist and Veja magazine columnist, explains how his country has fared under socialism. Donate today to PragerU: http://l.prageru.com/2eB2p0h Watch the Portuguese version: https://youtu.be/SbYlUhLHrTU Get PragerU bonus content for free! http://ift.tt/2odSvu3 Have you taken the pledge for school choice? Click here! http://ift.tt/2jvgXjw Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips. iPhone: http://l.prageru.com/2dlsnbG Android: http://l.prageru.com/2dlsS5e Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! http://ift.tt/29ugQ4e Do you shop on Amazon? Click http://ift.tt/1aWn6xc and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful. VISIT PragerU! https://www.prageru.com FOLLOW us! Facebook: http://ift.tt/R8ZQWT Twitter: https://twitter.com/prageru Instagram: http://ift.tt/1PGD6Ia PragerU is on Snapchat! JOIN PragerFORCE! For Students: http://l.prageru.com/2aozfkP Sponsor a Student: http://l.prageru.com/2aoz2ht JOIN our Educators Network! http://l.prageru.com/2aoz2y9 Script: Many American millennials seem to be drawn to socialism. They came out in big numbers for Bernie Sanders in the 2016 presidential primaries. They rail against capitalism on their college campuses. They wear Che Guevara t-shirts to signal their socialist virtue. I know a lot about socialism. I live in Rio de Janeiro, and I work throughout Brazil as a journalist for a popular magazine. In the early 2000s, Brazil’s economy was growing rapidly. The government had enacted economic and monetary reforms and divested holdings in some state-run companies, giving the private sector more room to breathe. Inflation—a chronic problem in Brazil—was dramatically reduced. Foreign investors poured into the country, eager to catch a portion of our expanding economy. The future seemed promising. But today, our economy is in shambles, unemployment and debt are massive, and powerful politicians are being investigated for involvement in the largest scandals of fraud and corruption in the country's history. What happened? In 2002, a socialist politician named Lula da Silva ran for the presidency. He was a socialist, but painted himself as a modern, cool kind of socialist. He would be the politician who would heal national divisions and unite everyone. He even had a nickname: “Lulinha paz e amor,” which means "Little Lula peace and love" in Portuguese. But the old message about the need for income redistribution to decrease inequality was still there. The media, academic elite and celebrities assured Brazilians that by transferring the money from the rich to the poor, the poor could finally be richer. But the only ones who really got rich were Lula and his corporate and political friends. It only got worse under his successor, Dilma Rousseff. The socialists increased government spending, deficits, and debt. They called it a “stimulus.” They increased the minimum wage and the benefits of social programs. They called it “social justice.” They increased the salaries and retirement benefits of the civil service. They called it “investing in the future.” They handed out thousands of jobs in the government and state-owned companies as favors to their political allies. And they called it “good governance.” It worked for a while. Socialism always works at the beginning. But government spending just kept going up, and then Lula’s socialist paradise fell apart and the economy fell with it. The outcome: from 2008 to 2015, government spending grew nearly four times as fast as tax revenue. The economy shrank 3.8 percent in 2015, the worst result in 25 years. That same year, a World Bank survey found Brazil’s economy to be one of the world’s worst. Out of 189 countries, we were the 16th hardest place to open a business, the 60th most difficult nation in which to register property, and the 12th most complex place to pay taxes. Economically and morally, the almost 15 years of socialist policies have greatly harmed Brazil. We also remain among the world's leaders in murder and robbery, and we rank near the bottom of industrialized nations in terms of education and health care. For the complete script, visit http://ift.tt/2odMq0C
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