Socialism Factbook

Socialism has never worked, wherever it has been tried.

The consequences have been broadly as harmful as the implementation has been faithful, with the very worst from Marxist and Stalinist communist regimes.

It has led to unspeakable human tragedy, with millions of lives lost under brutal dictatorships. It has bankrupted countries and paid scant regard for taxpayers.

One only has to look to Venezuela to see what hardline socialism is truly about, and how unattached it is from social democracy.

It is also plain to see when you compare a socialist country with its neighbours. Look at the wealth, prosperity and freedom of South Korea. Bright lights, positivity and a world-leading economy that embraces technology stands in stark contrast to North Korea.

But it’s not just other places that have felt the negative effects of socialism. British taxpayers who were around in the 1970s will remember all too well the damage caused to our own economy.

Those who don’t learn from history are doomed to repeat it, though, so today’s taxpayers should be mindful that the tax burden is the highest it has been for 50 years.

Taxpayers should never be used as the cash cows for failed social experiments.

Economic freedom is vital in promoting both personal and national prosperity. Many former
Soviet countries have successfully broken free of the shackles of communism. Lithuania and Estonia embrace low taxes and technology, and deliver first class public services as a result. We should learn from them.

We must make this case. And we must help usher in an era of respect for taxpayers.

Full list of sources

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