[Congressional Record Volume 165, Number 198 (Wednesday, December 11, 2019)]
[House]
[Pages H10022-H10023]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  SOCIALISM IS A PHILOSOPHY OF FAILURE

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
North Carolina (Mr. Budd) for 5 minutes.
  Mr. BUDD. Mr. Speaker, Winston Churchill once said: ``Socialism is 
the philosophy of failure, the creed of ignorance, and the gospel of 
envy. Its inherent virtue is the equal sharing of misery.''
  Despite the truth of these words, unfortunately, more and more young 
Americans hold positive views of socialism and negative views of 
capitalism. A recent Gallup Poll found that 51 percent of young 
Americans view socialism favorably, while only 45 percent view 
capitalism positively. That marks a 12-point decline in the popularity 
of capitalism just this decade.

[[Page H10023]]

  So the question is, Why are increasing numbers of our young people 
supporting socialism?
  The answer is, because they have been told that it is somehow 
``moral'' and ``compassionate'' and ``fair'' by leading socialist 
voices in media and government, mostly concentrated in and around 
Washington, D.C.
  On the surface, one might think that taking from the prosperous for 
the betterment of the poor is a decent and fair policy. But just under 
the surface lies a fundamental ignorance of one of the most 
foundational principles of human behavior, and that is, incentives.
  Socialism doesn't reward people for hard work, creativity, and 
entrepreneurial spirit. In reality, the overwhelming taxation necessary 
to support socialist policies penalizes people who work hard by forcing 
them to send their earnings, perhaps thousands of miles away, to 
Washington, D.C.
  The incentive that is created is one of mediocrity; that it would be 
just easier to settle for economic scraps instead of shooting for the 
Moon and pursuing the American Dream.
  And what about the supposed beneficiaries of socialism, the middle 
and the lower-class workers? Under that system, not only do massive 
amounts of other people's money flow here to Washington, but so does 
the decisionmaking capacity, over large swaths of people's lives, from 
your healthcare decisions to how you power your home, or your car, or 
what school your child can attend.
  Liberal Democrats often mock Republican economic policies as trickle-
down economics. But the socialist view essentially constitutes trickle-
down bureaucracy. The theory is that if we give more money and power to 
Federal bureaucrats in Washington, that the benefits will somehow 
trickle down to those who need it the most.
  Furthermore, it is fundamentally immoral for decisions over your life 
to be fundamentally outsourced to a far distant Capital hundreds or 
thousands of miles away with the dim promise of support after the 
Washington swamp has had its say.
  The best way to combat the rise of socialism is to educate Americans 
on the devastation that it has caused in other countries around the 
world.
  In Greece, socialist policies have crippled investment, innovation, 
entrepreneurship, and led to a shortage of food, money, and medicine.
  In Venezuela, the socialist policies of Hugo Chavez and Nicolas 
Maduro have led to mass shortages of critical medicine, widespread 
starvation, skyrocketing crime, and a terrible refugee crisis.
  In contrast, countries that have adopted the capitalist principles of 
economic freedom have fared much better. After trying Socialist 
policies in the 20th century, Israel, India, and the United Kingdom 
realized that their economies were hopelessly stagnated, and as a 
result, all three countries stopped allowing the government to dictate 
economic decisions and made the switch to free-market policies as a way 
to jump-start their economies.
  After embracing economic freedom, India now has the largest middle 
class in the free world. Israel is rated as the third most innovative 
economy in the world, and the United Kingdom's economy grew faster than 
nearly every other economy in Europe.
  As a strong supporter of economic freedom, I stand firm in my 
commitment to combat the rise of socialism. This dangerous ideology has 
failed in nearly every country where it has been tried, and we must do 
everything in our power to educate the next generation of Americans 
about the true nature of socialism.
  Socialism is not what made America great. Socialism is not who we 
are. America will never become a Socialist Nation.

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