What Senator Bernie Sanders laid out in his socialism speech is what I’ve argued that democratic socialism is. Not Marxism and economic state-ownership, but a large social insurance system better known as a welfare state to go along with the private enterprise economy. So people can get help when they fall down and for people who struggle they can get help getting by. As well as help to meet their basic economic needs. Like health care, education, health insurance, childcare, to use as examples.
Keep in mind, nothing that government does in a free society is free. Especially socialism and that all of these new government social programs like college, childcare, to use as examples, would all come with a cost. A big cost in taxes especially in new payroll taxes, but perhaps a cost in higher income taxes across the board. The idea that the bottom ten-percent income tax rate could stay that way in American social democracy, not likely. There’s only so much the wealthy are willing to pay to pay for other people’s lives. What Senator Sanders is arguing for is to bring Sweden and the Nordic social democratic economic model to America.
The difference between democratic socialism and Marxism, is that in a social democracy, the economy is in private hands. Meaning business’s and industries and people own their own property and even business’s. But again with a welfare state to insure that no one has to go without in the private enterprise system. In a Marxist system, the state meaning the central government, owns everything. The means of production in society, as well as all other property. With no guaranteed individual rights other than being taken care of by the state. But as every Marxist state that this world has ever seen, the people generally aren’t taken care, because of badly the state manages the economy. What Senator Sanders wants to create is a large welfare and regulatory state, to go with a welfare state. On top of the private enterprise system.