In his June 23 column, Robert Levy says, “Some states, mostly run by Democrats, are going forward with a socialist agenda. The Republican states have elected a capitalist approach. Who will win?”
Levy continues, “New York state is the latest battleground between socialists and capitalists. There, the socialists appear to be winning.”
Let’s examine that. New York, this poster boy of a Socialist state, rated 14th in the U.S. in wealth with a median household income of $64,894 (figures are 2017). Take a capitalist state, like Indiana? Indiana ranks 34th in median household income at $54,181. Florida ranks even lower at 39th with a median household income of $52,594. Hmm.
Some states pay more in taxes than they get back from the government — there are 10 such “donor states” — while others get more in federal aid than they pay in taxes. New York is the top donor state, contributing more than $35.6 billion to the American welfare. Indiana gets $18.7 billion more from Uncle Sam than it pays. Florida ranks No. 2, receiving $45.8 billion more than it pays. No wonder retirees like to live there.
Our North Carolina is the No. 5 “taker state,” getting $34.5 billion more than we pay.
Where do millionaires live? New York City is No. 1, with over 8,000, followed by Los Angeles, Chicago and San Francisco.
Blending socialism and capitalism can take some of the rougher edges off capitalism.
Bruce Doe, Southern Pines