Democratic Party hopeful, Bernie Sanders, recently outlined what it means for him to be a “democratic socialist.” The problem is that the same label might be applied to most of the other candidates running in both the Democratic and Republican parties running to be the nominee for presidency of the United States.
One November 19, 2015, Bernie Sanders delivered a speech in which he outlined what he means when he calls himself a “democratic socialist.” He assured his listeners that he did not advocate government ownership of the means of production.
He said that he supported “private companies that thrive and invest and grow in America instead of shipping and jobs overseas.” And that “innovation, entrepreneurship, and success should be rewarded. But greed for the sake of greed is not something that public policy should support.”
He insisted that he “merely” wanted the wealthy billionaires, the “one-percenters,” to pay their “fair share,” with the belief that if they were taxed sufficiently high then it would be able to finance all the other good things that he would like to see every American have.
FDR and His Economic “Bill of Rights”
So besides a clear desire for a form of regulatory socialism that would see to it that private businesses did not “ship” jobs and profits overseas, and a fiscal socialism that would use the tax code to redistribute wealth from that supposed “one-percent,” what does Bernie Sanders mean by “democratic socialism”?
His playbook, it turns out, is Franklin D. Roosevelt’s New Deal of the 1930s and FDR’s 1944 call for an “economic Bill of Rights.” In the 1930s, Franklin Roosevelt pushed through Social Security legislation, introduced the first federal minimum wage law and tax-funded unemployment insurance, and implemented federal job programs.
…click on the above link to read the rest of the article…