The Problem with Bernie Sanders’ Platform: The Living Wage

In the next series of articles, I will attempt to breakdown and provide an alternative view of the issues in Bernie Sanders’ platform, seen below in the tweet.

Some are good and some are pure “socialism”, which isn’t all bad if you think about private insurance.  Insurance is the pooling of risk in order to provide protection from financial loss.  Insureds pay a premium based on their individual risk factors and the insurance company is able to offer risk protection in the form of compensation in the event of a covered loss. Insurance is like a private version of socialism.  It is optional while still offering the benefits of pooled resources.

Socialism is defined on Wikipedia as “a political ideology and movement which has proposed a set of social and economic measures, policies and systems characterized by social ownership and democratic control of the means of production.  Social ownership may refer to public ownership, cooperative ownership, citizen ownership of equity, or any combination of these.”  What is often left out of the socialist platform propaganda is the fact that a small set of elites, bourgeoisie, will control the centralized policy and benefit from their position, all the while denouncing capitalism because of the monopolies of power it creates.

It is also the way in which this socialist platform is funded and administered that bothers me: mandatory taxation at the barrel of a gun and centralized spending and control.  It is like a form of government insurance that is required as opposed to private insurance which is offered as an optional fee based service.  And if you think democratic control is enforced, you’ve got another thing coming.

Raise the Minimum Wager to $15/hr. This suggests city, state, and federal governments would require companies to pay all hourly wage earners $15/hr.  This is often referred to as the Living Wage movement.  I certainly understand the need for people to earn more.  Inflation in the cost of living is outrageous since the 1913 Federal Reserve Act, the 1913 Federal Income Tax, and the establishment of the Internal Revenue Service to collect that income tax.  Incidentally, the Federal Reserve Act established a privately held central bank that would lend the US federal government money by purchasing bonds from the US Treasury.  Between the Federal Reserve system and its charter members and primary dealers, 97% of the US money supply is controlled.  And what a coincidence that the purchasing power of the US dollar has declined 98% since 1913.  That means the value of the dollar has declined by 98%.  That is the hidden tax of inflation, controlled by banks.   This decline in purchasing power has put pressure on wage earners to work more, all the while their dollars earn less.  There are so many additional factors that affect the cost of living and purchase power, but I cannot go into all of these here.  In summary, I think a minimum wage is needed for now because all other factors that would support fair market rates have been dismantled.  This is not a long term solution.  It is addressing the symptom of the problem and not the source.

If I had my druthers, I would push for taking away control of the money supply from the private bankers in its current debt-based money form.  I would promote public banking at the local and state levels to facilitate decentralized markets to reduce the amount of public debt for private gains.  That is socialism.  I would end the Federal Reserve, the IRS, and the Federal Income tax.  There is such a thing as public commons, public interest, and just like water and air, it should not be taxed or handed over to government protected monopolies to enhance their private profits.  That is fascism.

As for Bernie’s $15/hr minimum wage, it is not going to destroy the country or destroy capitalism any further so I say, let it be.

In coming articles, I will address additional platform positions and issues.

Please provide your feedback and perspective in the comments below.

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