Americans enamored with Sen. Bernie Sanders’ socialist economic plans – which essentially amount to taxing the rich (a lot – to the point where they’d leave the country), along with everyone who earns a wage, so that government could make lots of things like college, healthcare and day care for kids “free” – have not been paying much attention to the worsening economic state of Venezuela.
Once one of the richest, most successful countries in South America, life in Venezuela has gotten progressively worse under successive socialist dictators who have nationalized – taken over – once-private corporations and businesses, on the promise that all citizens would benefit from their wealth. Only, what has happened is that government seizure of entire industries has removed all incentives and opportunities for profit, turning them into failures instead of thriving centers of commerce. As such, the people have achieved parity alright – everyone (except the governing elite, of course) is suffering equally. FULL REPORT
