Tutor Nick P Quotes  (2) Margaret Thatcher – The Problem With Socialism Is …

hi this is tutor Nick P and this is quotes –
two today we’re going to take a quote from Margaret Thatcher you know remember the
old prime minister of the UK years ago one of our famous quotes is this one the problem with
socialism is that you eventually run out of other people’s money
yeah so what’s going on this quote basically means that the
further you go along the road of socialism you will have to raise more
and more taxes to the point that you will kill the economy yeah I actually even kind of chose this
one because pretty soon I’m going to have to teach up an article about Venezuela
Venezuela is a perfect example of socialism like gone wild or socialism
you know on steroids we might say – it’s to the extreme where the whole country
is kind of collapsing at the moment because of extreme socialism they had so
many social programs they had price controls the economy really can’t grow
it seems like every three to six months they’re devaluing their currency so
that’s what could happen if socialism went all the way to the extreme it even
reminds me because sometimes I’ve read about you know Karl Marx Karl Marx uh
the guy that created communism or we claimed created communism he says that
the purpose of socialism is to kill capitalism and to lead to communism so
that’s the whole reason for it so yeah so this this is the idea that that’s why
I draw this little illustration this little basic not too good diagram we
often we often say it this way this is actually more like what I would call
socialism lite this is when socialism can still kind of work when there’s only
a few people in the cart so if you made this like the percentage of the
population like think about eleven people here’s a two here nine here so if
you know the people who are receiving all these benefits or entitlements from
the government is small if it’s only in the 10 to 20 percent it might work for a while but the
problem is that eventually it keeps growing and it keeps growing some of the
people who are pulling sometimes get tired they get tired of pulling they get
tired of more and more taxes and say ah forget it they want to go join the cart
so eventually this moves over this another person moves over another person
moves over and before you know it you may have nine or ten people in the cart
and maybe just one or two people pulling the cart the cart won’t work anymore you
have killed the economy it comes to a stop so that’s the idea
so yeah eventually you run out of other people’s money so you could tax you know
whoever they they may find another way like if you talk about taxing more of the
rich people well the rich people may stop the business or they may move to
another country they may go somewhere they learn how to hide their taxes so
you make it so hard that maybe they just say I forgot to retire don’t need
anything so business eventually stops and the average person maybe if you keep
taking his money you know he spends less the economy goes down that’s the idea so
that’s what her quote actually means the problem with socialism is that you
eventually run out of other people’s money so if you keep taking more and
more and more if it goes to extreme that’s what happens okay well I hope
that clarifies it thank you for your time

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