What happens in the early stages of communism-socialism is that it gets sold to people who think they too should be entitled to drive a Rolls Royce, own a 300 ft yacht and live in a 20,000 sq ft home, then they are told the reason why they don’t have those things is because the RICH have them and if we only “make the rich pay their fair share” then they will have them, they are poor because the rich are rich. This is populist politics.
So they get elected on promise of raising taxes on those rich people and those rich corps. This results in the rich getting richer along with the corps…how so? High tax rates send the corps outside the US where they get better rates, this of course takes jobs. The rich go into tax avoidance mode and change how then invest and do business now they get richer and pay less taxes. Now it becomes a game in which the govt always loses. They run out of money, thus raise taxes more and run out of money more.
In simple terms the govt runs out of other peoples money since it has none as this oppresses economic activity things get worse and finally socialism collapses under its own weight.
Hitlery/Obama and the far left propose the same old same old economic plans as all the others that have failed did. The only difference is that the far left never learns from history and cannot accept the fact they could be wrong. They are ALWAYS the smartest people in the room.