this post was submitted on 23 Apr 2025
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Your country isn't the only capitalist country on the planet.
The EU doesn't have medical bankruptcy or student debt. Income gini of 0,29 instead of 0,42 of USA.
We're the birthplace of capitalism baby
Social democracy is a half-way point between capitalism and socialism, but the problem is that you are still ultimately leaving the elite in charge, which will lead to the inevitable erosion of social welfare programs, as we have plainly seen in the US (which I am most familiar with), along with some other countries like the UK, where the Tories (which I understand is their ultra pro-capitalist party like the Republicans in the US) are actively trying to dismantle the NHS (which I am much less familiar with).
The elite will always have influence because they have a situation in which corruption is possible. What we need is a system of government where corruption is impossible. I think we can accomplish this with every corporation being a worker-owned coop and having a hard wealth tax of 100% after $50 million (or whatever the number should actually be; I'm not an economist).
Worker co-ops cause for a high risk portfolio. I'm putting my income in Stoxx 600 ETF. That way I'm being paid in company property while I don't depend on the well being of one specific company.
Raising new capital is easier when you can sell a part of the company for it.
the 0,26 gini here in Belgium isn't done by taxing capital but by taxing labour. We attract capital by having 0% capital gains tax on stocks/commodities/real estate/...
We attract talent because the capital here provides them with high paying jobs. We then tax the talent who is quite divided and conquered.
Far easier than trying to get the global leaders to tax capital equally.
Median net wealth in Belgium is 256k USD per adult. We're a land of people that love to save up money.