Quote:
Originally Posted by Ugly Bastard
Well whether or not the U.S. is socialist depends more on tax policy than government ownership. Like, the government could own a decent percentage of these banks, but as long as they're not hiking taxes through the roof to fund it (cough... I'm looking at you, Obama)... it's not like inherently leading us to being a socialist state.
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In the extreme Communist state, there would be no taxes as the gov't would own all the businesses... so yes gov't ownership of businesses is closer to socialism and communism than 100% private ownership of businesses.