Democratic socialism means that we must reform a political system in America today which is not only grossly unfair but, in many respects, corrupt.
It is a system, for example, which during the 1990s allowed Wall Street to spend $5 billion in lobbying and campaign contributions to get deregulated. Then, ten years later, after the greed, recklessness, and illegal behavior of Wall Street led to their collapse, it is a system which provided trillions in government aid to bail them out. Wall Street used their wealth and power to get Congress to do their bidding for deregulation and then, when their greed caused their collapse, they used their wealth and power to get Congress to bail them out. Quite a system!
And, then, to add insult to injury, we were told that not only were the banks too big to fail, the bankers were too big to jail. Kids who get caught possessing marijuana get police records. Wall Street CEOs who help destroy the economy get raises in their salaries. This is what Martin Luther King, Jr. meant by socialism for the rich and rugged individualism for everyone else.
In my view, it's time we had democratic socialism for working families, not just Wall Street, billionaires and large corporations. It means that we should not be providing welfare for corporations, huge tax breaks for the very rich, or trade policies which boost corporate profits as workers lose their jobs. It means that we create a government that works for works for all of us, not just powerful special interests. It means that economic rights must be an essential part of what America stands for.
It means that health care should be a right of all people, not a privilege. This is not a radical idea. It exists in every other major country on earth. Not just Denmark, Sweden or Finland. It exists in Canada, France, Germany and Taiwan. That is why I believe in a Medicare-for-all single payer health care system. Yes. The Affordable Care Act, which I helped write and voted for, is a step forward for this country. But we must build on it and go further.
Medicare for all would not only guarantee health care for all people, not only save middle class families and our entire nation significant sums of money, it would radically improve the lives of all Americans and bring about significant improvements in our economy.
People who get sick will not have to worry about paying a deductible or making a co-payment. They could go to the doctor when they should, and not end up in the emergency room. Business owners will not have to spend enormous amounts of time worrying about how they are going to provide health care for their employees. Workers will not have to be trapped in jobs they do not like simply because their employers are offering them decent health insurance plans. Instead, they will be able to pursue the jobs and work they love, which could be an enormous boon for the economy. And by the way, moving to a Medicare for all program will end the disgrace of Americans paying, by far, the highest prices in the world for prescription drugs.
Democratic socialism means that, in the year 2015, a college degree is equivalent to what a high school degree was 50 years ago -- and that public education must allow every person in this country, who has the ability, the qualifications and the desire, the right to go to a public colleges or university tuition free. This is also not a radical idea. It exists today in many countries around the world. In fact, it used to exist in the United States.
Democratic socialism means that our government does everything it can to create a full employment economy. It makes far more sense to put millions of people back to work rebuilding our crumbling infrastructure, than to have a real unemployment rate of almost 10%. It is far smarter to invest in jobs and educational opportunities for unemployed young people, than to lock them up and spend $80 billion a year through mass incarceration.
Democratic socialism means that if someone works forty hours a week, that person should not be living in poverty: that we must raise the minimum wage to a living wage -- $15 an hour over the next few years. It means that we join the rest of the world and pass the very strong Paid Family and Medical Leave legislation now in Congress. How can it possibly be that the United States, today, is virtually the only nation on earth, large or small, which does not guarantee that a working class woman can stay home for a reasonable period of time with her new-born baby? How absurd is that?
Democratic socialism means that we have government policy which does not allow the greed and profiteering of the fossil fuel industry to destroy our environment and our planet, and that we have a moral responsibility to combat climate change and leave this planet healthy and inhabitable for our kids and grandchildren.
Democratic socialism means, that in a democratic, civilized society the wealthiest people and the largest corporations must pay their fair share of taxes. Yes. Innovation, entrepreneurship and business success should be rewarded. But greed for the sake of greed is not something that public policy should support. It is not acceptable that in a rigged economy in the last two years the wealthiest 15 Americans saw their wealth increase by $170 billion, more wealth than is owned by the bottom 130 million Americans. Let us not forget what Pope Francis has so elegantly stated; "We have created new idols. The worship of the golden calf of old has found a new and heartless image in the cult of money and the dictatorship of an economy which is faceless and lacking any truly humane goal."
It is not acceptable that major corporations stash their profits in the Cayman Islands and other offshore tax havens to avoid paying $100 billion in taxes each and every year. It is not acceptable that hedge fund managers pay a lower effective tax rate than nurses or truck drivers. It is not acceptable that billionaire families are able to leave virtually all of their wealth to their families without paying a reasonable estate tax. It is not acceptable that Wall Street speculators are able to gamble trillions of dollars in the derivatives market without paying a nickel in taxes on those transactions.
Democratic socialism, to me, does not just mean that we must create a nation of economic and social justice. It also means that we must create a vibrant democracy based on the principle of one person one vote. It is extremely sad that the United States, one of the oldest democracies on earth, has one of the lowest voter turnouts of any major country, and that millions of young and working class people have given up on our political system entirely. Every American should be embarrassed that in our last national election 63% of the American people, and 80% of young people, did not vote. Clearly, despite the efforts of many Republican governors to suppress the vote, we must make it easier for people to participate in the political process, not harder. It is not too much to demand that everyone 18 years of age is registered to vote -- end of discussion.
Further, it is unacceptable that we have a corrupt campaign finance system which allows millionaires, billionaires and large corporations to contribute as much as they want to Super Pacs to elect candidates who will represent their special interests. We must overturn Citizens United and move to public funding of elections.
So the next time you hear me attacked as a socialist, remember this:
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